What are some reasons people apply to the EB-5 program?
My daughter is an Indian citizen. She will do her LLM at Berkeley/NYU and would also like to complete a Juris Doctor program. She wants to work in the United States. Does it make sense for her to apply for an EB-5 visa for better job prospects? What are some of the reasons people apply to the EB-5 program?
Even if your daughter obtains the attorney license, it is very hard for her to get a green card to stay in the United States. There is no necessary relationship between EB-5 and her Juris Doctor. EB-5 is a way for her to get a green card.
Assuming she qualifies, EB-5 may be a much better and quicker option for your daughter to obtain a green card in the United States rather than going through many steps and unknowns to obtain a green card through an employer.
An EB-5 investment is supposed to create the jobs for those who are eligible to work in the United States. It is not an avenue for an investor to seek future employment. However, once granted, an EB-5 visa results in permanent residency and the holder can work. The purposes for applying for EB-5 vary, but the main reason for the investors is to obtain permanent residency.
As an Indian citizen, it would be many years for her to get a green card through an employer sponsor, so EB-5 is a great option for Indian nationals.
John J Downey
Yes, it makes sense. Many students come here to pursue an education, but once they graduate they must leave the country. Sometimes they can apply for an H-1B visa to work for a three year period, but this turns out to be a lottery-type application. Her best bet is to apply for the EB-5. This is one of the main reasons many Asian investors donate the funds to their children.
The reason people apply for EB-5 is to get green cards. If your daughter legitimately marries a U.S. citizen, she will get a green card. If not, she has a 40 percent chance of getting an H-1B work visa if an employer sponsors her. To get a green card, the employer has to show there are no U.S. workers who can do her job, and the wait will be 8-10 years. This is why people do EB-5. If a good project is selected, one can get one's money back after 5-6 years, and a green card. What a deal. The U.K. requires two million pounds.
People select the EB-5 option for many different reasons. The U.S. educational system and economic/career opportunities here are both very strong reasons why people wish to immigrate. Most immigrants wait many years for family-based cases or employment-bases cases that are backlogged due to the U.S. quota system, which restricts the supply of immigrant visa numbers in the various categories. In the last few years, high net worth people have been able to invest in EB-5 programs and immigrate relatively quickly compared to these other categories. Now, only China-born applicants are subject to an EB-5 immigrant visa cut-off date, which means they must wait for several years to receive their immigrant visas. Persons born in any other country, however, still have a current supply of EB-5 immigrant visa numbers.
People apply for green cards through the EB-5 program because it is a relatively direct and, in some cases, quick process. It is also a green card process that does not require a job offer or marriage to a U.S. citizen. Any of these green card processes results in the same green card. There is no benefit in obtaining a green card through any one of these processes versus another, except for the amount of time and money spent.
That is a great question. A substantial majority of the EB-5 applicants use this program because of its near certainty and flexibility. Unlike many visa/green card programs, there are limitations on the visa limiting where the applicant can work or go to school, etc. The EB-5 program has no such limitations and, provided the jobs are created, receiving the visa is certain. It is a very tried-and-true and positive program consequently.
The EB-5 program is an investment based immigrant visa program. It is a way of directly or indirectly investing in certain entities. Through a combination of the investment and creating a certain number of jobs, one can secure lawful permanent resident status. If your daughter does decide to go through the EB-5 investment visa program, she will garner lawful permanent residence through that program - not through an employer, etc.
A lot of our clients file for their children who are either studying or are working on an H-1B visa. I believe this is a result of the over-subscription of H-1B visa and the uncertainty that comes with it. Further, even if a candidate makes the H-1B lottery, an Indian national will take over 10 years to get a green card under the current processing times for H-1B holders. Also, the candidate will be at the mercy of her employer. A green card also makes it easier to seek jobs, as the candidate will not be restricted to looking for a job with a law firm that will sponsor an H-1B visa.