EB-5 Visa: How EB-5 concurrent filing will let investors live, work, and study in the US

EB-5 Visa Program has always been one of the reliable ways to get permanent residence in the United States. It allows investors and their family members to live, work and study anywhere in the U.S. For those with adequate capital EB-5 program can be the most convenient way to obtain permanent resident status in the United States.

Unlike other immigrant visa options, the EB-5 visa does not require a U.S. employer’s involvement as a sponsor, nor does it entail any specialized knowledge, skills, or experience. Furthermore, the EB-5 program is not restricted to citizens of specific treaty nations.

President Biden signed the long-awaited EB-5 Reform and Integrity Act of 2022 (RIA) into law as part of an omnibus spending package on March 15, 2022, which reauthorized the EB-5 regional centre programme. The ability to file Forms I-526 E and I-485 simultaneously (“EB-5 Concurrent Filing”) is one of the most critical transformations intro by RIA. EB-5 Concurrent Filing allows investors on non-immigrant visas in the United States to apply for adjustment of status while filing their I-526E petitions.

Form I-485 allows foreign nationals temporarily residing in the United States to change their legal status. In EB-5 Concurrent Filing, investors benefit from lawful permanent resident status benefits. Before this reform bill, EB-5 investors had to wait for their I-526 E petitions to be approved to adjust their status or they have to leave the country.

Concurrent EB-5 Filing gives investors more options. Investors in the EB-5 programme who change their status from H-1B or E-2 can freely apply for work authorization that is not bound to a sponsoring employer or investment company.

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In addition, following the adjustment of status, EB-5 investors in the United States on F-1 visas would be eligible to pause specific restrictive requirements imposed on foreign nationals studying in the United States.

Petitioners are eligible to apply for travel permits and work authorization under U.S. employment-based visa programmes that allow concurrent Filing.

Petitioners may live, work, and attend school anywhere in the United States once their work authorization and travel permits are approved. They can avail themselves of all the benefits of a green card without possessing one.

The eligibility for EB-5 concurrent filing is something that most investors are interested about. Form I-485 is used to change the immigration status of eligible foreign nationals who are already living in the United States temporarily on legal status. Form I-526 E may be filed only by foreign nationals in the United States on non-resident and should apply for the adjustment of the status at the same time. This provision typically applies to foreign nationals in the United States such as H-1B, L-1 and O-1.

EB-5 Concurrent Filing allows investors in the United States who are already in the country under another visa category to apply for adjustment status while filing Form I-526 E. This new filing option, included in the RIA, allows EB-5 investors to obtain lawful permanent resident status while their I-526 E petitions are adjudicated. For many foreign nationals, EB-5 Concurrent Filing provides a quicker way to reach their goals of living, working, and studying in the United States without the restrictions imposed by other visas.

ET Online

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