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From visas to investments: Key immigration developments in 2024
As immigration laws continue to evolve, it is crucial to stay informed on how best to navigate the nuances of the United States immigration system.
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The U.S. immigration landscape continues to evolve, offering new opportunities for individuals to live, work, and invest in the United States. From skilled workers to entrepreneurs and investors, the options are diverse.
This year brought upon new changes to the world of immigration that impacted many individuals. Here is the breakdown of some of the immigration highlights for 2024 and their implications:
The H-1B Visa Lottery:
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Registration Period: The initial registration period for the FY 2025 H-1B lottery took place between Mar. 6, 2024, to Mar. 25, 2024. The second lottery was announced in Aug. 2024.
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The Number of Registrations: USCIS received eligible registrations for 470,342 unique beneficiaries in the fiscal year (FY) 2025 H-1B cap season.
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The Number of Selected Individuals: USCIS selected 114,018 beneficiaries, resulting in 120,603 selected registrations in the initial selection for FY 2025 H-1B cap.
Implication:
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Pasricha and Patel, LLC’s insight: While the H-1B program remains a crucial pathway for many nonimmigrants to work in the U.S., the random selection process means many will not get the chance to come to the U.S., at least on their first try.
EB-5 Immigrant Investor Program:
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Investment Amounts: The minimum investment amount for general EB-5 projects increased to $1,050,000, while the minimum investment amount for Targeted Employment Areas (TEAs) is $800,000.
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Visa Bulletin: The visa bulletin is mostly current for adjustment of status (AOS) for EB-5 Applicants, which makes the EB-5 a favorable category.
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Regional Center Program: The Regional Center Program, a popular pathway for EB-5 investment, remains in place. However, the future of the regional centers is uncertain as Congress will consider potential reforms to the program.
Implication:
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Pasricha and Patel, LLC’s insight: For Indian nationals, it is suggested for immigrants to invest in a regional center or direct project investment in qualifying rural areas, areas with high unemployment, or infrastructure projects as these categories have consistently remained current for filing of adjustment of status in 2024.
International Entrepreneur Rule:
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The International Entrepreneur Rule (IER) requires entrepreneurs to meet specific investment and revenue thresholds to qualify for parole. In 2024, these thresholds were increased to:
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Initial Application: Entrepreneurs must show at least $311,071.00 in qualified investments, $124,429.00 in qualified government awards for grants to demonstrate their startup’s potential, or if partially meeting the threshold investment, alternate reliable evidence that would suggest the start-up entity’s potential for substantial growth and job opportunity.
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Second Period of Authorized Stay: To qualify for an extension, start-ups must either receive $622,142.00 in qualified investments or grants, create at least five qualified jobs, or achieve annual revenue of $622,142.00
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Qualified Investor: To be considered a qualified investor, an individual or organization must have invested at least $746,571.00 in startups over the past five years, with at least two of those startups creating five jobs or generating at minimum $622,142 in revenue.
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Implication:
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Pasricha and Patel, LLC’s insight: These increased thresholds reflect the evolving economic landscape and aim to maintain the IER’s effectiveness in fostering entrepreneurship within the United States.
Employment Based Non-immigrant Visa Application Process for College Graduates:
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The Biden-Harris Administration announced updated to simplify the process to obtain employment-based nonimmigrant visas from oversees consular posts for U.S. college graduates with job offers. This policy update includes:
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Easing accessibility to the visa application process.
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Prioritization of graduates from U.S. college and universities.
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Clarity around the visa waiver process for individuals who may be inadmissible due to prior unlawful presence in the United States.
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Implication:
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Pasricha and Patel, LLC’s insight: Through prospective simplification of the nonimmigrant visa process, we hope to see positive changes for college graduates with job offers in the U.S.
Premium Processing:
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Premium processing aims to fund faster processing for certain immigration petitions.
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The implementation of premium processing is a valuable tool for individuals and businesses seeking expedited results including individuals who request specific:
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Changing status to F-1 student status.
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H-4 dependents aging out and transitioning to F-1 status.
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Visiting B-2 travelers changing to F-1 student status.
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Employers seeking rapid employment-based petition adjudication.
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Implication:
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Pasricha and Patel, LLC’s insight: Premium processing is a strategic tool used to accelerate certain immigration cases which are often impacted by processing delays.
This year saw significant developments within immigration law. While many areas of the law are subject to frequent updates and changes, the opportunities for skilled workers, investors, and entrepreneurs remain abundant.
This article is by Pasricha & Patel, LLC a full service law firm that provides legal services in employment-based immigration, labor certification, family-based immigration, and immigrant and nonimmigrant visa petitions.
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