After years of consistent growth and stability, the tech industry faced a significant downturn in 2022, putting the livelihoods of countless tech professionals at risk in a situation the Economist termed “the sack of Silicon Valley.”

The second half of 2022 saw a wave of job cuts across the tech industry, culminating in the loss of 120,000 positions, 24,000 of which occurred in November alone.

The rapid nature of these layoffs left many tech workers in a state of shock and concern. However, those on H-1B specialty occupation visas faced an even greater challenge, as their job loss would also threaten their immigration status and their continued residence and employment in the United States. The tech industry, a significant sponsor of work visas, has seen its share of foreign workers grow to 25% by 2007.

As of 2024, H-1B is still a popular nonimmigrant visa category, which comes with a set of challenges. For H-1B visa holders hoping to stay in the U.S. long term, seeking a Green Card through the EB-5 visa program may present the most direct path forward.

In this article, we will delve into the experiences of H-1B visa holders and explore potential solutions to their U.S. immigration challenges.

Visa Constraints for H-1B Tech Workers

At the peak of the 2022 tech layoffs, a Twitter (now X) staff member, who remained after the job cuts, shared with the New Yorker, “The anticipation [to find out whether they would be laid off] wasn’t so stressful for me. I think it was for a lot of people, especially people who are on a work visa …. I probably would have started looking for other jobs two or three months ago. Finding another job is a lot of effort.”

In a message to his company about significant layoffs, Meta’s CEO, Mark Zuckerberg, echoed this sentiment, stating that the situation “is especially difficult if you’re here on a visa.”

These comments highlight the precarious situation H-1B visa holders found themselves in, at risk of job loss and potential removal from the United States.

The requirements of the H-1B visa mandate that holders must be employed to maintain their legal status in the U.S. If an H-1B employee is dismissed, their employer is obligated to inform the United States Citizenship and Immigration Services (USCIS) without delay.

From the moment of their termination, H-1B workers only have 60 days to secure a new qualifying employment opportunity before their visa status is revoked, which means they must leave the U.S. Normally, this limited window would already pose a significant challenge for tech workers in finding new employment to safeguard their H-1B visa status. However, with the tech sector’s instability and the scarcity of available positions, securing another role in the industry on such limited timelines appears almost impossible.

Undoubtedly, being forced to leave the United States following an unexpected job termination—potentially after years of residence—can severely disrupt the professional and personal lives of H-1B visa holders.

An H-1B visa nonimmigrant worker, who lost their job in 2008, shared, “I don’t think there’s any immigrant that comes to America and gets a highly competitive job expecting to be let go from it and have to leave the county, their apartment, their lives, their girlfriends and boyfriends and friends and kids and all of the things, at the flip of a switch.”

Luckily, H-1B workers can avoid this situation by transitioning to the EB-5 Immigrant Investor Program to secure permanent resident status.

Transitioning from H-1B to EB-5

Many H-1B visa holders have found a successful pathway to permanent residence through the EB-5 program. A key advantage of the EB-5 visa is securing a Green Card that is independent of employment status.

The EB-5 program allows foreign nationals to obtain permanent resident status by investing in a qualifying new commercial enterprise, often in real estate development, and creating 10 jobs with their foreign investment. The program requires a minimum investment of $800,000 in projects situated in designated targeted employment areas.

An accredited investor can choose to make a direct investment in a new or existing business, or invest in a regional center sponsored EB-5 project. There are different requirements for these two types of EB-5 investments, especially in terms of job creation and the investor’s involvement with the day-to-day management of the business.

For H-1B workers facing or at risk of job loss, the EB-5 visa offers a fast solution for adjustment of status. Upon investing, applicants of the EB-5 visa can concurrently file Form I-526E, initiating the Green Card petition, and Form I-485, the adjustment of status application for those on non-immigrant visas.

By taking this step, H-1B visa holders transitioning through an EB-5 investment can achieve a “pending” immigration status, permitting them to reside and work in the U.S. while their I-526E petition is under review. This effectively grants them the privileges of permanent residency ahead of formally receiving their Green Card.

An EB-5 visa also grants Green Cards to the principal applicant’s immediate family members (spouse and unmarried children under the age of 21).

Taking the First Step

H-1B visa holders who want to maintain their professional and personal pursuits in the United States can leverage the EB-5 visa pathway. To start the transition, it is best to consult with an immigration attorney experienced in both H-1B and EB-5 visa matters.

To minimize both financial and immigration risks, prospective investors should also work with industry experts to guide them through key steps of the application process like project selection and proof of source of funds.

Considering the limited 60-day window for H-1B workers who face layoffs, EB5AN offers the chance to start with a partial investment. Participants can start by investing a portion of the $800,000 minimum, proceed to file the I-526E and I-485 petitions, and fulfill the total investment requirement later on.

This approach enables H-1B investors to swiftly adjust their immigration status and continue their life and work in the United States.

For further details on transitioning from an H-1B to an EB-5 visa, required documents, and the visa application process, book a free one-on-one call with our team today.