Concurrent filing is an option available to EB-5 petitioners who currently reside in the U.S. under a non-immigrant visa status, such as the H-1B, L-1, F-1, E-2, or TN visas. This process involves the simultaneous submission of the I-526E, Immigrant Petition by Regional Center Investor, and the I-485, Application to Register Permanent Residence or Adjust Status.
Prior to the enactment of the EB-5 Reform and Integrity Act of 2021, investors were required to await the approval of their I-526 petition before initiating the adjustment of status application process.
The benefits
Concurrent filing offers significant advantages, including allowing investors to seek employment in the United States by applying for work authorization while their I-485 application is pending. Furthermore, they have the opportunity to request a travel document, enabling them to continue traveling as necessary. Consequently, investors and their families can enjoy most of the benefits associated with a green card while awaiting approval for their I-526E and I-485 petitions.
This concurrent filing process is especially advantageous for Indian and Chinese nationals residing in the United States, as they often face lengthy wait times for green card issuance. Additionally, recent graduates who seek alternatives to Optional Practical Training (OPT), STEM OPT, and the H-1B may find the EB-5 visa option appealing.
Moreover, spouses who may not be eligible for a work permit under other non-immigrant visa classifications can obtain a work permit through concurrent filing.
Who can apply?
As the EB-5 visa is a self-petitioning visa category, individuals are not constrained by specific employers, sponsors, or educational institutions in pursuing their professional goals. Investors currently present in the United States under a non-immigrant visa or who are based outside of the United States may apply for the EB-5 visas as long as they can commit at least $800,000 USD to a New Commercial Enterprise and can meet the job-creation requirements.
Read more about investment opportunities here.
Implications for the future
In addition to its immediate benefits, concurrent filing represents a significant step towards streamlining the EB-5 visa process and fostering a more welcoming environment for immigrant investors in the United States. By removing barriers to employment and travel, this option promotes economic integration and cultural exchange, enriching communities across the nation. Furthermore, its flexibility empowers individuals to pursue diverse career paths and seize opportunities for personal and professional growth. Initiatives like EB-5 concurrent filing reflect the improved treatment of immigrant investors who inject much-needed capital into many high-need projects.