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Can I travel outside of the United States being on H1B, if my PERM (labor certification) has been approved and I-140 is pending?

I have an approved PERM labor certification for Greencard, and my employer has also filed for my I-140 petition (“Greencard”) which is still pending. I have been on H-1B for almost (5) five years, and my H-1B period expires in (1) one year. Can i go to my home country and come back? Do i need stamping of my visa while coming back into the US.

Yes, you can travel as long as you have all the required documents, and are properly maintaining your current H-1B status in the US. You may or may not need visa stamping. If the visa on your passport has expired or is expiring within 60 days, or if you changed your status from a different visa category to H-1B, you would have to go to the US consulate for stamping. However, if the visa on your passport is unexpired, and your current visa is in the same non-immigrant claissification (H-1B), you would not need to go for visa stamping.

Also, H-1B allows for “dual intent” meaning you can have a pending PERM and GC application, and you would still be able to travel on your H visa.