Can I apply for EB-2 after I receive the conditional green card from EB-5?
I am currently an H-1B holder and at the same time in the process of my EB-5 application, and just received the combo card in March. I expect to receive the conditional green card very soon. I think it is very likely that my I-829 would be denied due to the project itself, although I have not filed for I-829 yet. My employer agrees to sponsor me for the EB-2. Can I continue to do PERM and I-140 applications even after I receive the conditional green card from EB-5 in the near future?
Even though can only obtain one green card at a time, in this instance, you may proceed to apply for the green card through your employer. However, if the green card through your employer is approved, you will have to give up the conditional green card obtained through the EB-5.
Yes, a permanent resident can apply for a new green card. The process of surrendering the old card must be completed before you are issued a new green card. It is best to do the new green card abroad since its complicated filing an adjustment for a perment resident.
The PERM and I-140 are petitions of your your employers and have nothing to do with your conditional PR status. Once it is time to file an I-485 based on the approved I-140, you will need to consider giving up your EB-5 conditional permanent resdiency.
You can only have one green card status at a time, but you are right that EB-2 is preferable to EB-5 because it is not conditional. Keep in mind that a permanent resident, even a conditional one, is not eligible to adjust status in the United States. Therefore, it you wanted to accomplish a change from EB-5 green card to EB-2 green card, it would be best to file the I-140 petition for consular processing and return to the U.S. embassy or consulate in your home country once you have an immigrant visa interview. At the interview, you can abandon your conditional green card (on Form I-407) and receive your new immigrant visa based upon your EB-2 case. Please consult with an experienced immigration lawyer before starting any new immigration case.