HOW INTERNATIONAL STUDENTS CAN LEVERAGE EB-5 VISA FOR FAST-TRACKING CITIZENSHIP
A large number of international students studying in U.S. universities look forward to the opportunities to live and work in the country for the long haul and even get a green card eventually. The EB-5 Visa offers an easy route, making the American dream a reality faster than they can expect.
WHAT MAKES EB-5 A VIABLE OPTION
It does not come as a surprise that a significant part of the EB-5 investor community comprises study abroad aspirants from other parts of the world. International students with a non-immigrant F-1 student visa can apply for the programme even as they are still in the university. Since EB-5 is investment-based, students can easily explore it as an option to stay back. The process is quicker and simpler than the conventional route for securing a green card, making it a viable option for students.
EXPEDITED VISA PROCESSING
EB-5 is an excellent option because investors can expect approval for I-526 applications in as little as 36 months. A college freshman may get an immigrant investor visa even before completing graduation from a four-year university in the country. The processing may be lengthy for some applicants, but there are hopes for upcoming reform legislation that will enhance efficiency and expedite the I-526 application processing in the future.
HOW TO GET STARTED
The current immigration law states that an approved EB-5 investor with an available visa, and lawfully present in the country under a valid non-immigrant visa, may be eligible to adjust their non-immigrant status and avail their green card. The condition covers aspirants with an F-1 student visa. The details about adjustment of status are available on the USCIS website. Students can also discuss their options with a qualified immigration attorney to initiate the process according to their specific situation.
VISA REQUIREMENTS, APPLICATION PROCEDURE & PROCESS
USCIS administers the EB-5 visa programme that requires investors and their spouses and unmarried children under the age of 21 years to fulfill the following eligibility requirements to apply for a Green Card:
- Make the requisite investment in a commercial enterprise in the U.S.
- A minimum investment of $900,000 in a Targeted Employment Area (TEA)
- A minimum investment of $1.8 million outside a TEA
- Plan to create ten permanent full-time jobs for qualified U.S. employees
Once an applicant is eligible with a legal and approved investment in place, they can go ahead with the process of applying for an EB-5 Visa with these steps:
- The applicant has to submit Form I-526 to the USCIS.
- The USCIS reviews the application and forwards it to the National Visa Center (NVC). It informs applicants about the acceptance or denial of the application within 31 to 52 months. Most regional centres refund the investment in case of denial.
- If the application is accepted, the NVC contacts the applicant and asks for the submission of the relevant fees and the required documents.
- The applicant has to either:
- File Application for Immigrant Visa and Alien Registration (DS-260) with the U.S. Department of State to get an EB-5 visa abroad for getting admission to the U.S.; or
- File Application to Register Permanent Residence or Adjust Status (Form I-485) with USCIS to adjust their status to conditional permanent resident within the U.S. Once Form I-485 application is approved or the applicant gets admission into the U.S. with an EB-5 immigrant visa, the EB-5 investor and derivative family members get conditional permanent residence for a period of two years.
- In the final step, the applicant files Petition by Investor to Remove Conditions on Permanent Resident Status (Form I-829), within a period of 90 days immediately before the second anniversary of admission to the U.S. as a conditional permanent resident.
Once this petition is approved, USCIS removes the conditions from lawful permanent resident status for the investor and their dependents.
Even as international students graduate from a U.S. university, the road ahead is daunting as it is hard to find employment in a highly competitive job market here. Employers prefer graduates who are unconditionally authorized to work in the United States. The EB-5 visa gives students a head start as they have better job prospects with their adjusted status when they are ready to break into the market.
