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When does an E-2 visa holder applying for EB-5 submit the I-508?

I am planing to settle up a small business in the United States via the E-2 visa first and later apply for EB-5 as an individual investor by using my new business, which should be able to meet the EB-5 investment qualification minimum of $1 million. When should i submit the I-508 for giving up the E-2 visa? Is it at the time I apply for the EB-5 visa or sometime later after my EB-5 application is approved?

Answers

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    Julia Roussinova

    Immigration Attorney
    Answered on

    You should file at the time you apply to adjust status in the United States to a conditional permanent resident along with the I-485 after your I-526 is approved.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    It is always preferable to maintain your current visa status until you are able to adjust your status (I-485) based on the immigrant petition: in the case of EB-5, the I-526. Thus, you should be filing the I-508 form with the I-485 after your I-526 has been approved.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    After the I-526 petition is approved, you would need to file Form I-508 to surrender any privileges you receive as a treaty investor. So this is only done if you decide to apply to adjust your status after your EB-5 I-526 petition is approved. If you decide to complete the immigrant visa process abroad, then you do not complete it at all.

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    Charles Foster

    Immigration Attorney
    Answered on

    There is no specific time you must give up your E-2 Nonimmigrant Treaty Trader Visa, but you should not give it up at any time until you have already at the very least obtained your Conditional Lawful Permanent Residency based upon your EB-5 investor petition filed on Form I-526. In fact, there is no requirement that even then you would have to give up such E-2 visa and you might wish to leave it as-is as a fallback position in the unlikely event you were to lose your lawful permanent residency.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    At the time of filing the adjustment of status (after the EB-5 petition is approved) is when the I-508 can be filed.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    With the I-485.

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