EB5 INVESTORS M AGAZINE
38
D one W aiting :
P lanning an E ffective L-1A P etition
in P lace of EB-5
The non-immigrant but dual-intent L-1 category visa for eligible business executives could be
a viable option for some investors stuck in the EB-5 backlog.
By William T. Dean
F
or m o s t of t he p a s t d e c a d e, n o v i s a h a s
held the allure of the “golden” EB-5. Now,
a f t e r s e v e r a l f a i l e d a t t e m p t s a t r e fo r m
a nd a system ic shor tage of ava i lable v isas, t he
industr y is at a crossroads. Hundreds of would-
be EB-5 investors have put their plans on hold. But
with proper legal counsel, some of these foreign
investors can discover a simpler option they may
qualify for: the non-immigrant L-1 A, one of the
L-1 category visas that provides a faster path to the
United States for eligible business executives. With
a green card option via conversion to EB-1C, L-1 visa
holders who abandon EB-5 can find their ultimate
prize simpler and no less golden.
CHANGING TIDES IN EB-5
The prospect of a green card through the EB-5 program
once held great social cache. For many high net
worth individuals, it was viewed not just as a means
of obtaining permanent residency, but as a status
symbol. But facing a spiraling waitlist and prolonged
uncertainty, many investors — especially those from
mainland China, whose filings now atrophy in a nearly
15-year retrogression — are seeking alternatives,
both in the United States and elsewhere. 1 In many of
these cases, the investors aren’t simply wealthy; they
are entrepreneurs, thought leaders or established
businesspeople who could contribute to a different
national economy immediately. If they meet the criteria