Amazon & Google suspending green card applications: Why EB-5 visa a perfect fix for H-1B challenges and tech layoffs

Significant layoffs at Amazon and Google, along with the suspension of their US green card applications, have heightened uncertainty for H-1B and F-1 visa holders.

These events underscore the risks of relying on employer-sponsored visas during economic fluctuations.

The EB-5 Immigrant Investor Program emerges as a robust alternative, providing a direct and stable pathway to permanent residency through investment, appealing particularly during economic uncertainty by offering independence from employer decisions.

This decision impacts many foreign employees who relied on employer sponsorship for permanent residency, especially amidst widespread tech sector layoffs.

The Suspension of Green Card Applications

Amazon and Google have paused their green card application processes due to a combination of increased application volumes, processing difficulties, and the ongoing restructuring within the tech sector.

This suspension is set to last until the end of 2024 for Amazon and Q1 2025 for Google.

This decision impacts thousands of foreign employees who were relying on these tech giants for their path to permanent residency.

Challenges Faced by H-1B Visa Holders

The H-1B visa program, while essential for attracting global talent, has several limitations:

Annual Caps: The H-1B visa program has strict annual limits, creating a bottleneck for many skilled workers seeking entry into the US.

Employer Dependence: H-1B visa holders are tied to their employers, meaning job loss can jeopardize their visa status.

Processing Delays: Lengthy processing times for both H-1B visas and subsequent green card applications add to the uncertainty.

Job Insecurity: The recent layoffs in the tech industry have highlighted the precarious situation of H-1B visa holders who depend on continued employment for their legal status.

Why Consider the EB-5 Visa?

The EB-5 visa program offers a straightforward path to US permanent residency by driving economic growth through foreign investment.

Particularly appealing in today’s uncertain economic climate, it provides independence from employer-sponsored visas.

Investment Requirements

To qualify for an EB-5 visa, individuals must invest a minimum of $800,000 into a new commercial enterprise in the United States.

This investment must create or preserve at least 10 full-time jobs for qualifying US workers within two years of the investor’s admission as a Conditional Permanent Resident.

A Lifeline for H-1B Workers Facing Layoffs and F-1 Visa Holders Seeking Stability

• Direct Path to Green Card: Unlike the H-1B visa, which is temporary and fraught with annual caps and lottery systems, the EB-5 visa offers a direct route to obtaining a Green Card. This crucial benefit removes the need for employer sponsorship and gives applicants more autonomy over their immigration and future residency status, providing a sense of security and stability.
• Educational and Career Opportunities: EB-5 investors and their families gain access to the same rights as other Green Card holders, which includes but is not limited to, accessing education at in-state tuition rates—a significant financial benefit. Furthermore, they have the freedom to live and work anywhere in the US, providing substantial advantages over the restrictive nature of H-1B or F-1 visas
• Permanent Residency: Successful completion of the EB-5 program enables investors and their immediate family members to secure permanent resident status, marking a pivotal step towards achieving US citizenship if desired.
• No Sponsorship Required: The independence from employer sponsorship with the EB-5 visa is particularly advantageous for those H-1B holders who aspire to start their own businesses in the US or prefer not to be tethered to one employer.
  Inclusion of family & Prevention of Aging Out for Children: The EB-5 visa also addresses a critical concern for many H-1B families—the risk of their children 'aging out' or turning 21 and losing dependent visa status, thus providing a long-term solution for maintaining family unity.