The congress a month ago extended the deadline for filing the investor visa petitions as per the current requirements until March 23, 2018. Post this short term extension, the congress would be required to either reform the program through appropriations in the bill or extend it until September 2018. The other way includes passing an immigration reform which looks difficult at this point of time.
The EB-5 Program is an immigrant investor program, whereby foreign nationals can invest a minimum amount of $500,000 into a job-creating new commercial enterprise in exchange for a green card.
Due to the high volatility and ever increasing uncertainty of the H-1B Visa Program many foreign nationals, are looking at investing in the EB-5 Program rather than going through the rigorous and challenging H-1B program.
The program has several advantages as compared with the high skilled H-1b visa program. The advantages include but are not limited too
EB-5 does not require the applicant to hold a Bachelor’s or higher degree.
EB-5 applicants do not have to work in specialty fields.
EB-5 applicant’s conditional permanent residency is not dependent upon employment. It is only dependent upon I-526 petition approval, whereas H-1B visa holders must continue working for their employer to maintain H-1B status.
If an H-1B applicant is terminated from their employment, they must leave the United States. USCIS may allow H-1B holders to change their status to another non-immigrant visa, but it includes complicated applications and issues.
EB-5 is considered to be much faster path to applying for the U.S. citizenship.
EB-5 investors can live, work, and go to school anywhere in the U.S. They do not have to live by their investment and they do not have to be involved in the day to day management of their investment if they do not wish to.
An investor’s spouse and unmarried children under the age of 21 also qualify for green cards under the EB-5 investor’s application.
Family members can gift an EB-5 applicant the funds required to invest in the EB-5 Program.
It is expected that the omnibus funding legislation that will pass on March 23, 2018 will include an extension of the current EB-5 Regional Center Investment Program through September 2018.
Emandi Law Firm has been successful in guiding and seeking approval on the EB-5 investor visa program petitions. Please contact attorney Rani Emandi today at (212) 686-7782 or email@example.com to seek benefit of the program before it stands expired on March 23, 2018.