The United States permits people from other nations to invest in their economy to obtain a US green card. It is the most convenient and seamless approach for people who have desired wealth to get a US green card. This investment procedure leads people to receive an "EB-5" immigrant visa, which allows them to receive a green card (permanent residency).
The American Green Card is an excellent document. Immigrants from all over the world have waited in long lines for visas to become citizens of the United States of America. The United States is desirable for diverse reasons, including variety, access to opportunities, academic, and infrastructure excellence, and the fact that it has the world's largest consumer market.
While the American Dream draws hundreds of thousands of immigrants who permanently come to the nation, only a small number receive a green card swiftly.
President Biden signed the long-awaited EB-5 reform measures into law as part of an omnibus budget deal on March 15, 2022. Petitioners may file their I-526 and I-485 petitions for change of status concurrently under the EB-5 Reform and Integrity Act of 2022. Previously, investors had to wait for I-526 clearance before requesting a position modification. Because both applications can be filed concurrently, optimistic investors can enjoy Green Card benefits before actual Green Card acceptance.
The eligibility conditions for this have been quite ambiguous. Anyone in the US on a non-resident visa (usually H-1B, E-2, or F-1) with a current priority date is eligible to submit simultaneously.
Form I-485 is used to modify the immigration status of qualified foreign nationals who are already in the United States temporarily. Foreign nationals with non-resident status in the United States may file Form I-526 and petition for adjustment of status.
Concurrent filing is advantageous since it enables petitioners to eliminate restrictions from H-1B, E-2, and F-1 visas. When an investor files for adjustment of status, they may apply for an Employment Authorization Document (EAD), generally known as a work permit. In contrast to an H-1B visa, which is oriented at a specific business, Form I-766 permits an investor to lawfully apply for any position available. The concurrent filing also allows for the use of Advance Parole, which allows an investor to re-enter the US after departing without an immigrant or non-immigrant visa.
While their I-526 petition is being reviewed, investors can freely live, work, and study in the United States due to concurrent filing.
While filing for concurrent AOS is an excellent choice for an EB-5 candidate, there are essential aspects to consider when you and your immigration attorney evaluate your unique case and needs.
It is critical to comprehend the procedure and its good and negative aspects before deciding. Most H-1B visa holders in the United States are Indian nationals, who profit tremendously from EB-5 concurrent filing. However, many EB-5 specialists anticipate India will eventually deteriorate and lose its "present" EB-5 regional status.
Note: This website's content is meant to be general; it does not constitute legal or financial advice. Only a licensed expert with a total understanding of all the information and circumstances of your specific situation can provide legal or financial advice. Before enrolling in the EB-5 program, you should contact a visa attorney with legal, immigration, and financial knowledge.