Overview
The Biden administration has reactivated a long-delayed immigration program for early-stage international entrepreneurs. The International Entrepreneur Rule (IER) is intended to benefit the US economy by filling a gap in US immigration options for individuals who are positioned to develop high-growth potential start-up companies. Under the IER, qualified entrepreneurial foreign nationals will be eligible to enter the US for up to five years to work for and assist in the growth of the start-up entity.
This program is available to all nationalities, as it is not tied to country specific agreements. Also, unlike other investment-based US visa options, the start-up company must be funded by qualified US investors, awards, and/or grants, rather than the entrepreneur's personal funds. In light of these novel eligibility requirements, participants will include first-time as well as highly successful entrepreneurs. In all cases, IER participants need to incorporate US tax planning throughout the lifecycle of their ventures, to protect current and hoped-for wealth.
For more information on the IER, including considerations for tax planning for qualified individuals, click here to read the Client Alert.