We propose that the liability of foreignness applies to individuals and not only to firms. To identify such a liability, we study entrepreneurial firms created by natives and immigrants. Firms created by immigrants have a lower rate of survival than those founded by natives. Work experience in the host country and size of the immigrant’s national community improves the chances of survival of firms founded by immigrants, in particular for firms founded by immigrants from institutionally distant countries. In contrast, the impact of firm age on survival is not significantly different for firms created by natives and immigrants. This indicates that learning by individuals before the creation of firms is more important than learning that occurs at the firm level after firms have been created.