When Breaking the Bank Breaks Your Visa - Forbes.com

When Breaking The Bank Breaks Your Visa

Adriana Loeff, 10.02.08, 04:36 PM EDT

Many laid off banking employees in the U.S. on work visas are now in violation. Here's how they can prolong deportation proceedings.

Over 100,000 Wall Street employees have suddenly found themselves updating their resumes. Some have a special urgency: foreign employees on work visas. Being able to stay depends on their ability to hold onto their jobs.

Act quickly. Losing your job while in the U.S. on a work visa immediately puts you in violation of immigration law. If you come to the attention of the authorities, you may find yourself amid deportation proceedings.

There are some steps foreign workers can take if they lose their jobs. "The advice that we're giving to everyone is that as soon as you know you're going to be losing your job, start looking for a new one," says David Nachman, managing attorney at Nachman & Associates, a business immigration law firm. "See an immigration lawyer so that he can try to figure out what additional options you might have."

Many foreign employees on Wall Street are on H-1Bs, visas for nonimmigrant professionals. They are allowed to move to a new job, but there's no grace period to look for something once laid off. And the sudden fall of several financial institutions over the past months has made finding a job fast nearly impossible. According to Nachman, there are several legal ways to buy time.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© NPZ Law Group, P.C. (f/k/a Nachman & Associates, P.C.) | Attorney Advertising

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