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Any foreign national looking to study, work, or live in the US can do so through one of many different visa options. Plus, there are specific needs and constraints associated with each. Because it is a temporary (non-immigrant), employment-based visa that is typically granted to qualified temporary workers when a U.S. firm petitions for it, the H-1B visa tends to be popular. While this could be a quick way for certain people to become permanent U.S. residents, it is only good for a limited time and has several restrictions.
Families relocating here could prefer a longer-term option. This is why a lot of international experts are weighing the pros and cons of the H-1B visa against the EB-5 visa. With the ever-changing immigration landscape, now could be the perfect moment to think about switching to an EB-5 visa. Here are a few benefits of changing your visa from h1-b to eb-5.
No Sponsorship Required:
It can be quite difficult for foreign experts to locate an employer who is prepared to sponsor their H-1B visa. Their ability to progress professionally and earn more money may be hindered if they are unable to freely transfer jobs or companies due to the H-1B visa’s reliance on sponsorship.
In contrast, the EB-5 visa does not call for a sponsoring employer, and it is not conditional on factors such as language ability, work experience in business management, or level of education. The EB-5 visa allows its holders a great deal of freedom, including the ability to work for any company they like, change jobs whenever they want, and even create or relocate their own business to the US.
Live, Work or Study in Any State:
Because of the limitations imposed on H-1B visa holders, it is vital to think about applying for an EB-5 visa instead. These people must comply with the preferences of their employer sponsors regarding where they work and reside. Conversely, EB-5 visa holders are not limited in their choices of where they can live, work, or attend college.
Investment family members are eligible for the EB-5 visa, which includes the investor, their spouse, and any minor children under the age of 21 who are not married. Investors, their spouses, and their children are eligible for EB-5 visas, which allow them to work and study without the need for sponsorship. The United States is an ideal place for them to enhance their professions and get as many degrees as they want.
Increase in H-1B Denials:
There has been a marked increase in the rate of H-1B visa denials by the United States Citizenship according to recent government data. The percentage of people who have their initial employment requests denied has increased from 6% in 2015 to 24% in the third quarter of 2019. Furthermore, from 2014–2020, the yearly quota of 65,000 H-1B visas was filled in just five days, compared to approximately two hundred days in 2012. Because of these things, getting an H-1B visa or getting it renewed is more difficult.
Opportunity to Invest in USA Businesses:
A substantial investment in a U.S. firm is a requirement of the EB-5 program, which has the potential to enrich the U.S. economy and generate employment opportunities for foreign nationals. If you’re an investor looking to help the US economy expand, this could be a great opportunity for you.
Path to Green Card and Citizenship:
If you want to live permanently in the United States, you can apply for a green card under the EB-5 visa program. Therefore, unlike H-1B visa holders, EB-5 visa holders are free to work as much as they choose.