June 6th, 2023 at 02:30 am
EB-5 Visa vs. H-1B Visa: Which One Is Better?
Foreigners can get permanent residency by investing $800,000 in a new enterprise that produces at least 10 American jobs with the EB-5 visa. Lifelong residency and bringing spouses and children make the EB-5 visa preferable to the H-1B visa.
Many foreigners aspire to work and live in America, a land of opportunity. Visas are harder to obtain. The most frequent US employment visas for foreigners are the EB-5 and H-1B.
Foreigners can get permanent residency by investing $800,000 in a new enterprise that produces at least 10 American jobs with the EB-5 visa. However, the non-immigrant H-1B visa allows U.S. corporations to hire foreign workers for specialist positions that require a bachelor’s degree or more.
We’ll compare the EB-5 and H-1B visas to see which can help you achieve the American dream faster.
Comparing the EB-5 Visa and H-1B Visa
EB-5 Visa
The EB-5 visa is a program that lets people from outside the United States spend at least $800,000 on a new business that creates at least 10 jobs for Americans. In return for this investment, the foreigner gets to live in the United States permanently
The EB-5 visa is better than the H-1B visa in a number of ways, such as:
- Permanent residency. The EB-5 visa is a permanent residency visa, which means that the foreigner can live and work in the United States forever. The H-1B visa is a temporary visa, so after six years, the foreigner must leave the United States.
- Partner and kids. The EB-5 visa is given to the investor, his or her partner, and any unmarried children under 21 who do not live with the investor. The donor is the only one who can get an H-1B visa.
- No work certification. Labor approval, which can take a long time and cost a lot of money, is not needed for an EB-5 visa. The H-1B visa needs a certificate of employment, which can make it hard to get one.
H-1B Visa
The H-1B visa is a nonimmigrant visa that lets U.S. companies hire foreign workers in specialty jobs that require a bachelor’s degree or higher. Also, The H-1B visa is a temporary visa, so after six years, the foreigner must leave the United States.
The H-1B visa is better than other nonimmigrant visas in a number of ways, such as:
Needs to have high pay. For the H-1B visa, the foreign worker must be paid at least as much as the average wage for the job in the area where the job is based. This rule makes sure that foreign workers are not taken advantage of.
No language barrier. The H-1B visa doesn’t have any language requirements, so foreigners who don’t speak English well can still get it.
No work experience is needed. The H-1B visa doesn’t require you to have work experience, so you can still get it even if you just graduated.
Which Visa is Right for You?
Your scenario determines the best visa. EB-5 visas are preferable for permanent residency. If you desire a temporary US work visa, the H-1B is better.
An immigration lawyer can help you choose a visa. They can advise you on future decisions.
Bottomline
For foreigners who want to work and settle in the US permanently, the EB-5 visa is better than the H-1B. The EB-5 visa has several advantages over the H-1B visa, including permanent residency, no labor certification, and the ability to bring your spouse and children. EB-5 visas are ideal for US workers.
Here are some more things to think about when thinking about the EB-5 visa:
- The process for getting an EB-5 visa is complicated, so you should work with an experienced immigration lawyer to make sure you are eligible and that your application is handled properly.
- The EB-5 visa is a big investment, so you should make sure you are okay with the risks.
- The EB-5 visa is a great way to start a new business in the U.S., but you need to do your study and make sure you are investing in a business that will be successful.
If you want to learn more about the EB-5 visa, you should check out the website for U.S. Citizenship and Immigration Services or talk to an immigration lawyer.
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