EB-5 investors already living in the United States on another immigrant visa have two options when filing their I-526 petition. They can file Form 1-485 for adjustment of status upon their I-526 petition’s acceptance and wait for its approval. Or they can return to their home country and process their petition for conditional permanent residency through their local United States embassy or consulate. Which is better?
In most cases, it is difficult to determine which way is faster: Form I-485 or the consular process. Processing times vary for both options.
Many factors can cause processing delays in either case, such as the volume of caseloads at a particular U.S. consulate or a local office of United States Citizenship and Immigration Services (USCIS). Typically, the wait time for an EB-5 investor to adjust their status to a conditional U.S. permanent resident is typically between 8 and 12 months, from the time USCIS deems them eligible.
Generally speaking, if an EB5 investor is in the United States on a valid nonimmigrant visa, it is better to file Form I-485 and adjust their status rather than to return home and go through consular processing.
Form I-485 is an adjustment of status petition filed with USCIS. EB-5 investors who already reside within the United States file this form to gain their conditional permanent residency status. Typically, this form is filed by an EB-5 immigration attorney on behalf of the EB-5 immigrant investor, along with any supporting documentation.
There are several advantages to adjusting status while already living in the United States. For instance, when filing Form I-485, an applicant can file for their work authorization at the same time. They can also file for a travel permit, which will be issued within about 90 days. Form I-485 can also be filed immediately once the investor’s I-526 petition is received.