The H-1B visa has been popular among foreign workers in the last decade due to it being an employment-based visa that is granted to a skilled professional. While this may be a fast track to living in the U.S. for some people, it is temporary and comes with a lot of limitations. For those who move to the United States with their family, the H-1B's temporary nature may not be as desirable compared to a more permanent solution. It's for this reason that many foreign professionals are turning to the EB-5 visa program and as the immigration landscape evolves, there may be no better time to consider making the switch.
H-1B vs EB-5
The H-1B visa allows the holder to be admitted into the United States for a period of up to three years with an extension that cannot go beyond a total of six years. In contrast, the EB-5 visa is an investor visa with a direct path to permanent residency. EB-5 applicants may obtain their two-year conditional green card soon after their I-526 application is approved. After a two-year period, they can apply to get the conditions removed to obtain permanent resident status. The EB-5 is one of the fastest and easiest ways to obtain permanent resident status.
No Sponsorship Required
One of the major hurdles for foreign professionals has always been finding an employer who is willing to sponsor their H-1B visa. The current administration has increased the difficulty for H-1B visa users with a $100,000 fee associated with new H-1B applicants. Due to sponsorship dependency, H-1B visa holders may not be able to advance their careers and increase their pay since they cannot move freely to a new job and company. The EB-5 visa has no employer sponsorship requirements. The EB-5 visa allows its holder to work for any employer they choose, switch employers when they choose, and start their own business.
Bypass the H-1B Lottery
Over 350,000 applicants apply for H-1B visas; however, there are only 85,000 H-1B visas available. As a result of this imbalance, 75% of the applicants who graduated from schools and found an employer to sponsor their H-1B visa are forced to leave the United States because of the lottery limitations.
No Aging Out of Children
Once a child of an H-1B visa holder turns 21, they are required to get their own visas to live, study, or work in the United States. If they fail to get that visa, they are forced to leave. Sometimes, the H-1B visa holder ends up leaving the United States after building a life in the states because their child is unable to get a visa to work. The EB-5 visa keeps families together.
Concurrent Filing
Concurrent filing is the ability to simultaneously submit Form I-526E and Form I-485 to USCIS at the same time instead of waiting for the I-526E to be approved first. Before concurrent filing, investors had to maintain their existing visa status or leave the country while waiting for their green card application to be processed. Concurrent filing allows investors to apply for an Employment Authorization Document (EAD) which grants them permission to work legally in the United States while their green card application is processing. Essentially, concurrent filing enables an EB-5 investor to start enjoying the benefits of their green card before receiving one.
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