The EB-1A visa is top of mind for many foreign professionals in the tech sector. But financial professionals are also taking a closer look at the EB-1A, triggered in part by recent, major corporate restructures.
When times are tough for a company, sponsoring Green Cards—a costly and time-consuming process for employers—often becomes less of a priority. That’s pushing some people to look into the EB-1A, which lets you self-petition and stay in the country even if you get laid off.
“Many of our clients who come to us looking to self-petition their Green Card cases, they’ve realized that they’re in situations where they have to take things into their own hands,” said Arielle Sheinfeld, an attorney for Manifest Law who works with many financial professionals applying for EB-1A visas.
Sheinfeld only recently became a naturalized U.S. citizen about a year ago, so she empathizes with what her clients are going through. She’s been practicing immigration law for more than five years.
Financial professionals often come to immigration lawyers out of fear, she said. Many of them have families in the U.S. and their legal presence in the U.S. has always been tied entirely to their employment.
This can prevent them from seeking new, better opportunities, sometimes for years. Now, many are looking to find a path to a Green Card on their own.
“It’s scary to have to solely rely on your employer, no matter who you work for, to take care of your adjustment of status,” Sheinfeld said.
The challenges of EB-1A for financial services
But as with all EB-1A visas, the bar for financial professionals is high—maybe higher. These workers aren’t often invited to serve as a judge on panels and likely haven’t published any scholarly articles, two of the the 10 criteria commonly employed by tech workers.
Financial professionals have to approach the criteria from a different angle. One of the biggest challenges is media mentions.
Many of Sheinfeld’s clients work on major financial deals, but usually in the background.
“A sore point for financial clients is that their names are rarely, if ever mentioned on the press releases and news articles,” she said.
U.S. Citizenship and Immigration Services (USCIS) looks for media to cover you, not just your work. Sheinfeld recently had a client who worked on a deal that received lots of press, but only one article mentioned him by name. Sheinfeld was able to use testimonial letters and internal documents to link him to the deal, which satisfied USCIS.
And when it comes to scholarly articles, while financial clients may not have academic publications, they may have published a white paper for their financial institution.
“We just have to pivot a little bit from how we’re used to doing things,” Sheinfeld said.
You also have to take special care to frame the case in a way that’s easy for USCIS officers to follow. Officers are often more accustomed to reviewing tech-related EB-1A cases, and the financial industry is a “a little bit more foreign to them,” Sheinfeld said.
The final merits determination for finance
Even if an applicant meets three out of the ten regulatory criteria, they must still pass the final merits determination. This is where a USCIS officer decides if the evidence, taken as a whole, proves the applicant is at the very top of their field.
Financial professionals can sometimes hold an advantage at this stage. Financial impact is easily quantifiable. Sheinfeld frames these cases by highlighting the sheer scale of the capital her clients handle.
“Many of our clients in the financial services industry come to us having directly managed substantial transactions and deals,” Sheinfeld said. “Their work impacts the U.S. economy in a way that is not at all remote.”
Ways to qualify for EB-1A as a financial professional
If you’re curious about applying for EB-1A as a financial professional, Sheinfeld’s advice is: Don’t take it lightly. Look at the list of criteria and figure out how to bridge the gaps where you might fall short. Sheinfeld listed some ideas:
- Speak on a panel
- Publish articles in reputable journals and major trade publications
- Accept interviews in major trade publications
- Put yourself up for awards
- Apply for prestigious associations
“Just study the criteria and try to engage in opportunities that enhance your reputation in the field,” Sheinfeld said.
Even beyond that, there’s a lot of client homework involved in filing an EB-1A. While the attorney will handle the drafting, applicants have to gather documentation and be prepared to keep up with their petition for months.
Unlike tech workers, who are often more familiar with the process because they have colleagues and friends who have gone through it, Sheinfeld’s financial clients often have more questions and require a bit more hand-holding.
“With the EB-1A, I really don’t recommend individuals go about it on their own,” she said. “It’s too labor-intensive and detail-oriented. Unless you’ve filed a number of these petitions already, there’s just too much room for error.”
