EB-5 Concurrent Filing offers a quick solution to living, working, and studying in the United States without the restrictions imposed by the H-1B, E-2, and F-1 visas.
On March 15, 2022, President Biden signed the eagerly anticipated EB-5 reform measures into law as part of a comprehensive spending package. The EB-5 Reform and Integrity Act of 2022 (referred to as the "Reform Bill") also granted reauthorization to the EB-5 regional center program.
Effective on or around May 14, 2022—60 days following the enactment of the Reform Bill—significant changes to the regional center program will be implemented. All other changes are expected to take immediate effect. We strongly recommend that readers consult with their immigration attorneys.
One of the most noteworthy changes introduced by the Reform Bill is the introduction of "EB-5 Concurrent Filing." This provision enables individuals residing in the United States on non-immigrant visas to simultaneously submit Form I-526 and Form I-485, streamlining the process for seeking an adjustment of status. It is anticipated that individuals who filed their I-526 petitions prior to the enactment of the Reform Bill will also be able to apply for an adjustment of status before their Form I-526 petitions are adjudicated. Add a short description.
Concurrent filing in the context of the EB-5 program refers to the process of filing certain immigration petitions concurrently, which can potentially allow EB-5 investors and their immediate family members (spouse and unmarried children under 21) to live, work, and study in the United States sooner than if they followed a sequential filing process. Specifically, this involves filing both the Form I-526 (Immigrant Petition by Alien Investor) and the Form I-485 (Application to Register Permanent Residence or Adjust Status) at the same time. Add a short description.
This is the initial petition filed by the EB-5 investor to demonstrate their eligibility and intent to invest in a qualifying EB-5 project. Once the I-526 petition is approved by USCIS, the investor is granted conditional permanent resident status
The Form I-485 is typically used by individuals who are physically present in the United States and wish to adjust their status from a nonimmigrant (e.g., H-1B, F-1) or conditional permanent resident to a lawful permanent resident (green card holder).
By filing the I-485 concurrently with the I-526, investors can potentially shorten the time it takes to receive their conditional green cards.
Once the Form I-485 is filed, investors may also apply for Employment Authorization Documents (EADs), which allow them to legally work in the United States while their green card applications are pending. This can be especially beneficial for H-1B visa holders who want to continue working in the U.S.
Concurrent filers may also apply for Advance Parole (AP), which allows for international travel while the I-485 is pending. This is essential for individuals who need to travel outside the United States while their green card applications are being processed.
USCIS processing times and policies may change over time, so it's crucial for individuals to consult with experienced immigration attorneys to determine the most appropriate and timely filing strategy for their EB-5 journey.
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