EB-5 Program: The Natural Next Step for H-1B Visa Holders
In recent weeks we have learned of a series of contract terms for workers in the technology industry such as Meta (Facebook), Amazon and Lyft, leaving tens of thousands of workers in uncertainty and with the need to find a job, especially because most are H-1B visa holders, which allow them to legally work within the United States.
Layoffs totaled more than 50,000 in the month of November alone, according to the Layoffs.fyi website. Tech companies, such as the ones mentioned above, typically employ the majority of workers on H-1B visas, and these temporary visa workers have 60 to 90 days to find new employment.
If affected individuals cannot find employment in time, they may have to leave the United States, so it is critical to consider other options, such as participation in the EB-5 Program.
What is the EB-5 Foreign Investor Program?
The EB-5 Immigrant Investor Program was created by the United States Congress in 1990 as part of the Immigration Act. Its primary goal is to stimulate economic growth and create jobs in the United States.
Over the years, this program has changed the way capital is invested, creating jobs, improving regional infrastructure, and stimulating local economies throughout the Americas and the world.
Who administers this program is the US Citizenship and Immigration Service (USCIS). And under this program, investors and their spouses and unmarried children under the age of 21 are eligible to apply for a Green Card.
Transfer of H-1B visa to the EB-5 Program
The new Reform and Integrity law published in March 2022 revamped the EB-5 investor program, allowing the I-526 petition to be filed and, at the same time, requesting an adjustment, a travel document, and also an authorization of worked.
In this sense, the law allows a worker who has the benefit of the H-1B visa and is physically in the USA, to request an adjustment of status through the EB-5 Program, obtaining a new work authorization without the need for the sponsorship from an employer.
This adjustment request will allow the beneficiary to stay within the country without legal problems, also receiving work authorization and travel authorization in a short time.
Investing in BAI Capital is investing in the United States
With a presence in the real estate sector in the states of Florida, Texas and New York, BAI Capital specializes in generating value from land acquisition to the development of mixed-use projects. Such as residences for the elderly, student residences, multifamily buildings for rentals and mixed use that include condos and retail.
Our mission is to safeguard the capital of the partners and the own capital under the minimum risk exposure. With a safe development and going through all the stages. Purchase of land, adjustment of urban zoning, commercial vision in architectural development and management of building permits. Then, we take charge of the capitalization, construction and exit with return of the capital and profits to the partners.
In this way, we guarantee fixed and stable returns for our client portfolio. In addition to having a confidential work protocol with encrypted web forms. Use of protected personal data and private meetings with our agents throughout Latin America.