So the Trump Administration has decided to terminate the ‘golden visa’, or EB-5. But the EB-1A, EB-2 and the EB-1C will help the budding entrepreneur fulfil the dream of making it big in the US.
Hopefuls can benefit hugely from the EB-1A. It has no backlogs, a premium processing service and decision time of 15 working days. The individual just needs to prove to USCIS that he or she is a distinguished personality. The applicant can show this by showing achievements or rewards in relevant sectors. If that is not possible, the individual needs to fit in 3 of the 10 criteria specified by the USCIS. And then, the applicant and dependent family members can apply for a green card.
The EB-2 is for people outside the Indo-Chinese subcontinent. If the entrepreneur can prove that establishing a commercial enterprise with a business plan is the purpose, can employ local Americans and is a benefit to the US, he or she is eligible. As soon as the process completes, the entrepreneur can apply for permanent residence.
The EB-1C visa or Multinational/Executive visa is for people in the upper management. A business active for a year or more needs to have employed the candidate for at least a year abroad for eligibility. The executive can then apply for this visa or convert from an L-1A to ‘expand the business’ or acquire an existing one. And then the application for permanent residence becomes available.
The unique characteristic of these visas is that there is no backlog on the green card applications, unlike the EB-5. And there are no conditions to fulfil after the visa has been granted, unlike the EB-5 process. In any case, consulting an attorney is the best course of action in deciding the visa strategy.