How concurrent filing allows EB-5 investors to enjoy Green Card benefits before getting one
3 min read
The US allows individuals from various nations to invest money into their economy to achieve US green card benefits. For the people who have wanted capital, it is the most accessible and frictionless way to attain a US green card. This investment process leads individuals to get an “EB-5” — immigrant visa, allowing them to get a green card (permanent residence) when they enter the US.
The American Green Card is optimistic. Immigrants from around the globe have desperately waited in visa lines to become residents of the United States of America. The US is appealing for multiple factors, including diversity, access to opportunities, educational and infrastructure superiority, and being the world’s largest consumer market.
While the American Dream attracts a huge number of immigrants who permanently relocate to the country, only a few can get a green card rapidly.
On 15th March 2022, President Biden signed the long-awaited EB-5 reform measures into regulation. As a feature of an omnibus spending package. EB-5 Reform and Integrity Act of 2022 allow petitioners to file their I-526 and I-485 petition for adjustment of status simultaneously. Previously, investors needed to wait for I-526 approval before applying to change their position. The ability to file the two petitions simultaneously allows confident investors to enjoy significant Green Card benefits before actual Green Card approval.
EB-5 investors to enjoy Green Card benefits
The eligibility criteria for this have been very vague. Anybody in the US on a non-resident visa (normally H-1B, E-2, or F-1) with a current priority date can file concurrently.
Because the Regional Center Program won’t be executed until 15th May 2022. Investors from all nations can immediately make an immediate EB-5 investment and file simultaneously. Form I-485 is utilized to change the immigration status of eligible foreign nationals who are as of now temporarily resident in the United States. Foreign nationals staying in the US on non-resident status might file form I-526. And they should also apply for adjustment of status.
Concurrent filing is beneficial because it allows petitioners to eliminate the restrictions with H-1B, E-2, and F-1 visas. When an investor files for adjustment of status. They can apply for an Employment Authorization Document (EAD), otherwise called a work permit. Form I-766 allows an investor to legally apply for any job available. Unlike an H-1B visa, which is directed towards a particular employer. The concurrent filing also provides for the application for Advance Parole. Which allows an investor to re-enter the United States after leaving without an immigrant or non-immigrant visa.
EB-5 Investors
Simultaneous filing will enable investors to freely live, work, and study in the US while their I-526 petition is being processed. While having the option to file for concurrent AOS is an excellent option for an EB-5 candidate. There are essential factors to consider when you and your immigration lawyer examine your particular case and needs.
[White House looking into recommendations to reduce Green Card adjudication and processing time]
While having the opportunity to file for simultaneous AOS is an excellent option for an EB-5 candidate. There are essential factors to consider when you and your immigration lawyer analyze your particular case and needs. Before making a decision, it is very crucial to understand the process and its positive and negative effects. Most H-1B visa holders are Indian nationals in the US and thus benefit greatly from EB-5 concurrent filing. However, numerous EB-5 experts believe India will soon regress and lose its “current” status in the EB-5 regional center category.
