My husband’s company is transferring him to the US for a 3-year project to set up a factory in the south. He’ll be on an L-1, and my family and I on an L-2. My daughters are both starting high school, so they will be graduating by the time the project is finished. Is the EB-5 a good option for us to remain in the US permanently so that they can continue their college studies?
Answers
David Raft
EB-5 Immigration attorneysAn EB-5 investor visa can be a path to permanent residence, but for your situation, it may not be the most practical or reliable option unless you already planned to make a qualifying investment in an entity that would allow for the concurrent filing for adjustment of status. The adjustment of status application would be what could allow your family to remain in the country beyond the initial 3-year period of your husband's assignment. Your husband’s L-1 visa is a dual-intent visa as would your L-2 visa status (and the same for your kids), which means he and your family can legally pursue permanent residence while he is working in the U.S. pursuant to his L-1 status.
At the same time, you would qualify to work based on your L-2S status. Children, however, are not authorized to work in an L-2 status but could go to school. Many L-1 employees transition to a green card through their employer, especially if they had held an executive or managerial role overseas and the U.S. entity is in business for more than 1 year and can qualify to sponsor your husband for an employment-based green card case available to multinational companies similar to the L-1, known as an EB-1C green card case. This EB-1C case may allow for your husband and the rest of your family to file for adjustment of status while within the 3-year term of his assignment, without the inherent risks of the EB-5 investment.
The EB-5 immigrant investor program generally requires an investment of at least $800,000 in a targeted employment area (TEA), or otherwise a $1,050,000 investment that will create 10 full-time jobs for U.S. workers. While EB-5 leads directly to a green card, there are important considerations in that it is expensive, processing can take years, investment risk is real, and while your daughters' ages may not be a concern right now, dependent on the investment type and potential green card or immigrant visa retrogression, your daughters may "age out” from qualifying for the green card.
DISCLAIMER: the information found on this website is intended to be general information; it is not legal or financial advice. Specific legal or financial advice can only be given by a licensed professional with full knowledge of all the facts and circumstances of your particular situation. You should seek consultation with legal, immigration, and financial experts prior to participating in the EB-5 program. Posting a question on this website does not create an attorney-client relationship. All questions you post will be available to the public: do not include confidential information in your question.