EB-5 visas: Many immigrants whose visas are contingent on their continued employment in the United States may find that the time has come to investigate alternative visa options that provide more stability while requiring fewer minimum immigration qualifications in light of recent reports of significant layoffs at large tech companies.
Immigrants hold 25% of tech jobs in the United States, and Indian nationals held 75% of all H-1B work visas in Federal FY 2021. As a result of recent mass layoff announcements made by major social media sites. And other tech companies, displaced workers now have two months to find new employment in the United States. Before having to go back to their home country and apply for a new visa or an amended visa.
Over the past two decades, the H-1B visa has enabled innovative Indian workers to migrate to the United States. Establishing the United States as a global leader in the technology sector. Since then, several policy changes have been made to the H-1B. Including the implementation of a lottery system for obtaining a visa. Making it a less reliable route to immigration to the United States. The EB-5 option gives immigrants the chance to stay in the United States without having to rely on an employer sponsor. Whereas the ripple effect of widespread tech layoffs only adds to the uncertainty of the H-1B visa.
EB-5 is a creative government program that helps foreign nationals become permanent residents of the United States. When they invest $800,000 in a “Targeted Employment Area” that creates jobs in the United States.
How can you figure out whether the EB-5 visas may make sense for you, and understand how it differs from the H-1B visa?
In contrast to H-1B, EB-5 does not require sponsorship or education; The program was recently reformed to make it simpler for immigrants. Adjust their visa status through concurrent filing, and there are no language or business background requirements.
Under a provision of the EB-5 Reform and Integrity Act of 2022, qualified applicants are already in lawful status in the United States. Are required to apply (Form I-485) to adjust their status to that of a lawful permanent resident. Simultaneously with the filing of their EB-5 petitions (Form I-526E). Applicants are permitted to remain in the United States while their EB-5 petitions and adjustment applications are pending as a result of this filing. Even if they could not continue working under their H-1B visa. Displaced tech workers would be able to stay in the United States with an EB-5 visa.
Immigrants from all over the world have always been welcomed and supported in the United States. Immigrants and their families benefit from personal stability. And the retention of talented workers in the United States by supporting Indians in maintaining employment.