The EB-5 program has long been an attractive pathway for investors seeking U.S. permanent residency. With the passage of the EB-5 Reform and Integrity Act of 2022, significant policy enhancements have been introduced, including the ability for eligible EB-5 investors to file for Adjustment of Status (Form I-485) concurrently with their EB-5 petition (Form I-526E). This change has created a unique opportunity for foreign nationals already residing in the U.S. to gain work and travel authorization while awaiting their green card approval.
What is Concurrent Filing, and Why is it Important?
Concurrent filing allows EB-5 investors who are present in the U.S. under a valid nonimmigrant visa to simultaneously submit their I-526E and I-485 applications. This policy shift enables eligible applicants to remain in the U.S. legally and obtain critical interim benefits, including Employment Authorization Documents (EADs) and Advance Parole (AP) for international travel.
This is a game changer for many investors, as it reduces uncertainty and provides greater flexibility while navigating the EB-5 process. By filing concurrently, applicants no longer need to depart the U.S. to secure their green card, minimizing disruptions to their professional and personal lives.
The Advantages of Concurrent Filing
The ability to file for Adjustment of Status concurrently offers several key advantages:
- Work Authorization: Applicants can apply for an EAD, allowing them to work legally in the U.S. while awaiting their green card approval.
- Travel Flexibility: With Advance Parole, EB-5 investors can travel internationally without jeopardizing their pending application.
- Stability & Continuity: Investors and their families can continue residing in the U.S. without concern for visa expirations or status lapses.
- Priority Date Lock-In: Filing concurrently secures the investor’s place in the visa queue, which is particularly valuable in periods of high demand.
Who is Eligible for Concurrent Filing?
To take advantage of concurrent filing, an EB-5 investor must meet the following criteria:
- Be lawfully present in the U.S. on a valid nonimmigrant visa at the time of filing.
- Be eligible for a visa under the Visa Bulletin’s final action date or dates for filing.
- File both Form I-526E (or have a previously approved I-526) and Form I-485 together.
This option is especially appealing to those in the U.S. on visas such as H-1B, L-1, F-1, or E-2, as it provides a clear pathway to permanent residency without requiring departure and consular processing abroad.
Key Considerations and Challenges
While concurrent filing presents significant benefits, investors should be aware of the nuances involved:
- Processing Timelines: Although concurrent filing allows applicants to remain in the U.S. and obtain interim benefits, the overall EB-5 processing time remains lengthy. However, USCIS has been making efforts to improve efficiency and reduce delays.
- Maintaining Nonimmigrant Status: While pending I-485, it is generally advisable for investors to maintain their underlying nonimmigrant status until they receive their EAD and Advance Parole.
- Visa Availability Matters: The ability to file concurrently depends on visa availability as outlined in the monthly Visa Bulletin. Investors from countries with visa retrogression should plan accordingly.
- Investment Considerations: As always, selecting a reliable EB-5 project is crucial. Investors should work with reputable regional centers with a strong track record of approvals and capital repayment.
Why Now is the Right Time to Act
With the rising demand for EB-5 visas, it is now an opportune moment for eligible investors to take advantage of concurrent filing. The program’s set-aside categories for rural, high-unemployment, and infrastructure projects provide additional avenues for expedited processing and visa availability.
As we have seen over the past year, concurrent filing has become an increasingly popular strategy among EB-5 investors. As one industry expert put it, “If not now, when? The priority date is your place in line. Get your spot while you can.”
CanAm Enterprises remains committed to guiding investors through this process, offering high-quality investment opportunities that align with USCIS requirements and investor success. With over 35 years in the industry and a proven track record of capital repayment, CanAm continues to lead the way in EB-5 investment solutions.
For those considering the EB-5 program, concurrent filing provides an unmatched opportunity to secure U.S. residency while maintaining work and travel flexibility. The time to act is now.
Dive Deeper Into EB-5:
- Navigating the Impact of I-956F Approvals on I-526E Processing Times: Insights, Challenges, and Future Projections for EB-5 Investors
- EB-5 Pathway Navigation: A Conversation with CanAm’s Pete Calabrese and Miller Mayer’s Nicolai Hinrichsen
- H-1B Visa Challenges and the EB-5 Alternative
CanAm Enterprises, with over three decades of experience promoting immigration-linked investments in the US and Canada, has a demonstrated track record of success. With over 60 financed projects and $3 billion in raised EB-5 investments, CanAm has earned a reputation for credibility and trust. To date, CanAm has repaid more than $2.26 billion in EB-5 capital from over 4,530 families. CanAm manages several USCIS-designated regional centers that stretch across multiple states. For more information, please visit www.canamenterprises.com.
