L1 to H1 Processing Rules.

[Finix]

Hi All,
I'd like to know the process of transferring L1 to H1. I'm in US now and working on a L1-B visa right now and I'd like to change to H1-B.
Do I need to wait till next October 2010 to get my H1-B visa by applying for it around March 2010?
Or can I find a job now and also seek an employer who can start the H1-B visa processing right away?

Any advice on this would be very much appreciated. Thanks in advance.

Regards.

[shervin143]

I'd like to know the process of transferring L1 to H1. I'm in US now and working on a L1-B visa right now and I'd like to change to H1-B.
Find a suitable job that requires H1B and ask that employer to file the H1B petition with COS from L1 to H1B. You can start working with H1B employer immediately after the COS is approved.

Do I need to wait till next October 2010 to get my H1-B visa by applying for it around March 2010?
No. H1B quota is still open.

Or can I find a job now and also seek an employer who can start the H1-B visa processing right away?
Yes.

[Finix]

Thank you very much!

I've few more questions. Please bear.

Say that one finds a job in a month or so and apply for H1-B visa through an employer, I heard that one would become eligible to work for the new client and employer as soon as his visa is filed for transfer. Is that true?
If so, how good/bad are the chances for my visa to get approved/rejected?
Because if one starts working for the new employer then it means that his old employer would cancel his L1-B visa and if his H1-B visa doesn't get approved then he'll have to back to the country. Is that right?
I read in the forums stating that even if H1B is not approved, one can continue to work on L1-B only if that person waits for the H1-B visa approval to take place. So I'd like to know how much time would it take to get the visa approval after one finds a job. Because we don't know whether the client would be willing to wait till the visa gets approved as they can very well somebody who can start working immediately.

Please let me know.