The journey of transitioning from student to professional in the U.S. can be challenging for international graduates, especially when it comes to securing a visa. Pete Calabrese, CEO of CanAm Investor Services, and Tadeu Ferreira, a partner at LEAF Law, recently held an informative webinar discussing the various visa options available for international students post-graduation, with a focus on the EB-5 Immigrant Investor Program. Their insights provide a clear roadmap for graduates seeking to stay in the U.S., emphasizing the opportunities and processes involved in EB-5.
Overview of Visa Options for Graduates
The U.S. offers several non-immigrant visa options for international students, starting with the F-1 visa, which most students hold while pursuing their studies. The F-1 visa is usually granted for four years and requires students to maintain a full-time course load, typically 12 credits per semester. It is crucial for students to avoid interrupting their studies to maintain their visa status.
After graduation, students can transition to the Optional Practical Training (OPT) program, which allows them to work in the U.S. for up to 12 months in their field of study. Students in STEM (Science, Technology, Engineering, and Mathematics) fields can extend their OPT for an additional 24 months. However, it is important to apply for OPT up to 90 days before graduation to avoid any lapses in employment authorization.
Another popular visa option is the H-1B visa, which is an employment-based visa for individuals in specialty occupations. The H-1B visa requires sponsorship from an employer and is granted through a lottery system, making it highly competitive. With hundreds of thousands of applicants vying for limited spots, finding an employer willing to sponsor an H-1B visa can be challenging, especially as many companies, such as major banks, do not sponsor international employees.
The EB-5 Immigrant Investor Program: A Pathway to Green Cards
For students and professionals seeking more permanent solutions to their immigration status, the EB-5 Immigrant Investor Program presents a compelling alternative. Unlike the H-1B visa, the EB-5 program does not require a job offer or employer sponsorship. Instead, it is based on an investment in the U.S. economy, specifically in projects that create jobs.
Under the EB-5 program, investors must contribute $800,000 into a qualifying project, typically through regional centers like CanAm Enterprises. These regional centers manage projects that meet the job creation requirements of the EB-5 program, ensuring that investors not only secure their green cards but also contribute to the U.S. economy.
Benefits of EB-5
One of the significant advantages of the EB-5 program is that it provides a clear and direct pathway to a green card. By making a qualifying investment, students can apply for permanent residency without the uncertainty of the H-1B lottery. Once approved, the investor receives a conditional green card for two years. During this time, the investment must create at least 10 full-time U.S. jobs. After meeting this requirement, the conditions on the green card are removed, and the investor becomes a permanent resident.
Another benefit of the EB-5 program is the flexibility it offers. Investors are not tied to a specific employer, meaning they can work for any company without needing further sponsorship. This is a significant advantage for graduates who may otherwise struggle to find employers willing to sponsor their visas. Additionally, EB-5 investors, once they receive their conditional green card, are eligible for many of the same benefits as U.S. citizens, including in-state tuition rates at public universities, which can significantly reduce education costs.
The EB-5 program also allows investors to include their immediate family members, including spouses and children under 21, in the green card application. This family-friendly aspect makes it an attractive option for individuals looking to establish a long-term life in the U.S. Furthermore, after holding a green card for five years, EB-5 investors are eligible to apply for U.S. citizenship, a step that can further secure their future in the U.S.
The EB-5 Process
The process of applying for an EB-5 visa involves several steps, and careful planning is essential to ensure a successful outcome. The first step is selecting a regional center and a project that qualifies under the EB-5 program. Regional centers like CanAm play a crucial role in this process, managing the investment and ensuring that the project meets all EB-5 requirements.
Once the investment is made, the applicant files an I-526E petition, which is the first step toward obtaining a conditional green card. If the applicant is already in the U.S., they can simultaneously file for an Adjustment of Status (AOS), allowing them to remain in the country while their petition is processed. This step also grants the applicant an Employment Authorization Document (EAD) and travel parole, giving them the ability to work and travel while awaiting approval.
After receiving the conditional green card, the investor has two years to meet the job creation requirements of the EB-5 program. Once this is done, they file an I-829 petition to remove the conditions on their green card, at which point they become permanent residents.
Considerations for Potential Investors
While the EB-5 program offers many advantages, it is important to note that it requires a significant financial investment. For many, this investment is a legacy gift from parents or a loan structured for tax purposes.
It is also essential to work with experienced legal and financial advisors when navigating the EB-5 process. The investment must come from lawful sources, and documenting this is a critical part of the application process. Working with a reputable regional center and immigration attorney can help ensure that the process goes smoothly and that the investor’s funds are protected.
Conclusion
The EB-5 program presents a unique opportunity for international graduates who wish to remain in the U.S. without the uncertainty of the H-1B lottery. By making a qualifying investment, individuals can secure a green card for themselves and their families, gaining the flexibility to pursue their careers and lives in the U.S. without the need for ongoing sponsorship. While the process requires careful planning and a significant financial commitment, the long-term benefits of permanent residency and eventual citizenship make the EB-5 program an attractive option for those with the resources to pursue it.
