EB-5 Program
Thanks to the EB-5 Reform and Integrity Act that was passed in March of 2022 there has never been a better time to switch from an H1-B visa to an EB-5 green card. The Act allows for concurrent filing, which allows an H1-B visa holder to file an I-485 adjustment of status at the same time they file their I-526E EB-5 investor petition.
This allows the investor, as long as there is a visa available for their nationality, to obtain the benefits of an EB-5 conditional green card as soon as the adjustment of status is approved by USCIS (typically 8-10 months).
There are several advantages to being on an EB-5 conditional green card as opposed to an H1-B visa.
They include:
No Work Restrictions
A person on a conditional green card is free to work wherever they want and are not dependent on a work sponsor. Additionally, they are also able to work in field that is not necessarily connected to their degree and there is no requirement to see if there is a qualified U.S. resident to fill the position. Green card holders can even start their own business if they choose.
Other Family Members Can Work
With an H1-B visa only the sponsored employee can work. However, with an EB-5 conditional green card all members of the family of a legal working age are eligible to work.
Better Pay
H1-B visa holders have little leverage to negotiate a pay raise as they are tied to their sponsor. However, a conditional green card holder is not tied to a specific job, so they have more leverage to negotiate a fair salary.
Fewer Travel Restrictions
H1-B visa holders may have to obtain additional travel documentation if they wish to travel outside of the U.S. By comparison, a green card holder can obtain a U.S. passport and is able to travel freely with little hassle.