WR Immigration Managing Partner Bernie Wolfsdorf and Partner Joey Barnett are joined by special guest Charlie Oppenheim, Former Chief of Visa Control and Reporting Division at U.S. Department of State, to provide analysis and observations on the EB–5 Reform and Integrity Act of 2022.
The International Entrepreneur Rule (“IER”) was created to spur innovation within America as the U.S. competes with other countries to attract entrepreneurs. The IER provides a temporary immigration benefit pursuant to the Secretary of Homeland Security’s discretionary parole authority at Section 212(d)(5) of the Immigration and Nationality Act (“INA”), 8 U.S.C. § 1182(d)(5) for international entrepreneurs who have invested in start-up companies in the United States and have attracted venture capital or other funding that may benefit the country by adding jobs to the U.S. economy. While the IER is a step in the right direction to enhance entrepreneurship, innovation, and job creation in the United States through the legal immigration system, additional changes are needed to make it a viable program for international entrepreneurs. Below is a list of the top five changes needed to the IER. All of the suggested changes are consistent with President Biden’s Executive Order 14012: “Restoring Faith in Our Legal Immigration Systems and Strengthening Integration and Inclusion Efforts for New Americans,” which requires the Secretary of the Department of Homeland Security (”DHS”) to “identify any agency actions that fail to promote access to the legal immigration system.” 1) Restrictive Definition of “Qualified Investment” at […]
