USCIS to Accept H-1B Petitions for Fiscal Year 2015

US Citizenship & Immigration Services (USCIS) will begin accepting H-1B petitions for Fiscal Year 2015 beginning on April 1, 2014. The congressionally mandated cap on H-1B visas for FY 2015 is 65,000. The first 20,000 H-1B petitions filed on behalf of individuals with a U.S. master’s degree or higher are exempt from the 65,000 cap.

As usual, the demand for H-1B visas is significantly greater than the available visas. USCIS anticipates receiving more than enough petitions to reach both caps by April 7. For workers without a graduate degree in Science, Technology, Engineering and Math (STEM), the prospects are very slim for successfully receiving an H-1B visa.

For the wealthy foreigner, the EB-5 visa was designed under the Immigration Act of 1990 as a winning opportunity for the immigrant and their family to obtain permanent residency to the US most efficiently. Along with receiving access to all of the same benefits as anyone who is a US citizen receives, the foreigner and their family will have a high propensity for success. Currently, the US Department of State does not anticipate any backlog, meaning any immigrant who meets the criteria for US immigration will be granted permanent residency.

In addition,

1. No annual renewals, fees or expenses are required under the EB-5 visa because it’s permanent, rather than extended annually.
2. During enrollment, there are no work limitations under the EB-5 visa program for students.
3. The immigrant may continue to reside and work permanently within the US after graduation, without restrictions. Alternatively, the H1B work visa has a number of challenges and restrictions even after a degree is obtained.
4. After five years of permanent residency in the US, the EB-5 visa enrollees are eligible for US citizenship automatically, whereas H1B work visas may need to undertake additional requirements to earn their permanent residency.

Learn more about the EB-5 visa program here.