The benefits of the Green Card offered by the EB-5 Program for students with F-1 Visa
International students in the U.S. with an F-1 Visa constantly face the challenge of extending their stay, but each year it becomes more complex. The Permanent Residency offered by the EB-5 Program allows them to meet this and other benefits.
For foreign students in the United States with an F-1 Visa, the possibility of staying permanently in the country becomes a crucial goal. However, each year it becomes more complex due to the increase in work visa applications that allow them to stay longer and pursue their professions.
In fact, for fiscal year 2024, USCIS received 780,884 requests, representing an increase of more than 61% compared to the previous period. Of those requests, only 10% were approved by USCIS.
In this regard, the EB-5 Investor Visa offers an effective route for those who wish to establish themselves as permanent residents in the U.S. through a significant investment that contributes to the country’s economy.
Immigration experts, such as senior attorney Steffanie Lewis of The International Business Law Firm PC (IBLF), highlight that the EB-5 Program is an efficient option for students whose goal is to obtain Permanent Residency, especially with the approval of the Reform and Integrity Act (RIA).
Before the Act’s approval in 2022, F-1 students’ options to work and stay in the country after their studies were limited, restricted to a 12-month Optional Practical Training (OPT) period, or 24 months for STEM students.
Impact of the EB-5 Reform and Integrity Act
The approval of the RIA in 2022 marked a significant change, allowing students to file concurrent applications, including the I-526 petition for the EB-5 visa, the I-485 form for status adjustment, the I-131 for travel authorization, and the I-765 for employment authorization.
According to Marko Issever, CEO of America EB5 Visa, LLC, this law has changed the game, allowing students to work and travel while awaiting the approval of their permanent residency application.
Flexibility and advantages of concurrent filing
Rohit Kapuria, partner and vice chair of the global immigration and foreign investment practice at Saul Ewing Arnstein & Lehr, LLP, highlights the importance of obtaining temporary work and travel authorizations. This flexibility allows students to secure jobs immediately after graduating, which is crucial in a competitive job market.
Issever also emphasizes that by filing EB-5 applications and work and travel permits simultaneously, F-1 students do not need employer sponsorship and can work anywhere in the U.S., even self-employed. Additionally, adjudications for rural projects are processed faster, especially benefiting students from countries with longer wait times like China and India.
Comparison with other employment-based visas
The EB-5 program has become a preferred option over other employment-based visas, such as EB-1, EB-2, and EB-3, which require specific educational qualifications. Kapuria mentions that the demand for EB-5 has particularly increased among students from China and India due to these comparative advantages.
The EB-5 visa has become a standout option over other employment-based visas for several reasons. Below, we explore the key differences between the EB-5 visa and other common employment visa categories, such as EB-1, EB-2, and EB-3.
EB-1, EB-2, and EB-3 Visas: Requirements and Limitations
EB-1, EB-2, and EB-3 visas are popular among foreign professionals seeking to work in the United States, but each of these categories has specific and often restrictive requirements:
EB-1 Visa: Intended for individuals with extraordinary abilities in sciences, arts, education, business, or athletics, outstanding professors and researchers, and certain multinational executives and managers. Applicants must demonstrate substantial achievements and recognition in their field, which can be a rigorous and competitive process.
EB-2 Visa: Reserved for professionals with advanced degrees or individuals with exceptional abilities in sciences, arts, or business. Applicants must meet strict educational and work requirements and often need a job offer and labor certification (PERM), which involves a prolonged and bureaucratic process.
EB-3 Visa: Available for skilled workers, professionals, and other workers. Although the requirements for this category are less strict than those for EB-1 and EB-2, applicants still need a job offer and labor certification (PERM), which can be a significant challenge.
Advantages of the EB-5 Visa
In contrast, the EB-5 visa offers several advantages that make it an attractive option for F-1 students:
No educational or work experience requirements: Unlike EB-1, EB-2, and EB-3 visas, the EB-5 visa does not require applicants to have specific educational levels or previous work experience. The main condition is to make a minimum investment in a qualified project that creates at least 10 full-time jobs for U.S. workers.
Concurrent filing and flexibility: With the approval of the RIA, F-1 students can simultaneously file their EB-5 visa, status adjustment, work authorization, and travel authorization applications. This allows them to work and travel while awaiting the approval of their permanent residency, a significant advantage over other employment visa categories that typically have longer wait times and less flexibility.
No employer sponsorship needed: The EB-5 visa eliminates the need for a job offer or employer sponsorship, a major benefit for students who may face difficulties finding an employer willing to sponsor their visa.
Opportunities for entrepreneurs: EB-5 visa holders can work for themselves and establish their own businesses in the United States, an option not available with many other employment-based visas. This opens up a range of opportunities for those with an entrepreneurial spirit.
Special considerations for students from China and India
For students from China and India, the EB-5 visa has become particularly attractive due to delays and quotas in other visa categories.
EB-1, EB-2, and EB-3 visas often have long wait times due to high demand in these countries, making the EB-5 option, with its faster adjudication process for rural projects, a preferred alternative.
Kapuria explains that most students applying for the EB-5 visa are university students about to graduate. This process is often financed with financial support from their families.
The documentation to prove the legal source of funding is usually provided by the parents, who frequently opt for the Regional Center route to facilitate the process.
Future opportunities for F-1 Students
The EB-5 Visa not only opens the doors to permanent residency but also provides students with the opportunity to develop professionally in the United States.
With the ability to work without employer sponsorship, students can explore various job opportunities and embark on their own projects. This freedom to choose and change jobs without additional restrictions allows them to better adapt to the dynamic U.S. job market.
The EB-5 Visa offers a promising path for F-1 students who wish to establish themselves permanently in the United States.
With the possibility of working and traveling while their residency application is being processed, this program provides a competitive edge in the job market. However, it is crucial to approach the process cautiously and with the support of experienced professionals to maximize opportunities and minimize risks.
