Comment by notanadvice
10 hours ago
Hi Peter, I’m an employee at big tech in an L1 VISA in the US. I’d like to know what happens if I get laid-off. Will I have a chance of finding another job. How much time will I have before leaving the country?
I’ve heard I can get a green card via significant US investment. How much does that requires? Can I stay in the US while the process is ongoing?
Back when I was working on an L1, I continually lobbied my employer to apply for an H1B for me to give me more options in the event of losing a job, or even just the ability to change employer at all really. This is one of the most significant downsides of the L1 visa IMO, the options are comparatively limited/difficult if you do lose your job. Its biggest plus over the H1 is of course no lottery though, which is why employers that can use the L1 like it etc.
As I understand it, your employer can apply for the H1B lottery every year for you while still on the L1. Some companies will do this, eventually I did get the H1B I wanted back then. My colleagues on L1 all did the same thing too.
Regarding your first question, you would get a 60-day grace period following the end of your employment (limited, however, by your I-94 expiration date). During this 60-day period, you could remain in the U.S. and apply to change your status to another visa classification before the end of the 60-day period, such as to another work visa (if one is available) or a visitor visa. Regarding your second question, you are referring to an EB5 green card. That is too convoluted to explain here. If you are interested, you should consult with someone who specializes in EB5 green cards.