Dorsey Update – New Immigration Rule to Welcome Start-Up Foreign Entrepreneurs

Following up on President Obama’s proposal to acknowledge the global marketplace of ideas and leverage current immigration law to encourage entrepreneurship and economic growth, the U.S. Citizenship and Immigration Service issued a ground-breaking proposed rule on immigrant entrepreneurs; the rule is expected to be formally published in the Federal Register next week.

The rule would allow start-up foreign founders who could show a significant public benefit to the U.S. from the development of their new companies a temporary "parole" immigration status (not a "visa" status) for up to five years so that the founder can grow that company and create jobs.

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