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
Julia Roussinova
Find an EB-5 Visa Lawyer: Immigration AttorneyYou 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.
Jinhee Wilde
Find an EB-5 Visa Lawyer: Immigration AttorneyIt 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.
Bernard P Wolfsdorf
Find an EB-5 Visa Lawyer: Immigration AttorneyAfter 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.
Charles Foster
Find an EB-5 Visa Lawyer: Immigration AttorneyThere 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.
BoBi Ahn
Find an EB-5 Visa Lawyer: Immigration AttorneyAt 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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