Applying for Green card on L1B visa or H1B visa

[monusoni]

I am on L1B visa since June 2010, My company is ready to file for the greencard and PERM process. The confusion for me is to Apply for greencard with current L1B visa? or to convert the L1B status to H1B visa and then apply for greencard.?

Please help.

[Attorney_17]

An L-1B visa holder can initiate the green card application process. However, since an individual is only eligible to hold L-1B status for 5 years, he or she should consider changing status from L-1B to H-1B well before reaching the 5-year mark. This will allow the individual to gain a 6th year in H-1B status. Also, if at least 365 days have passed since the filing of a LC/PERM application, then the individual is eligible to apply for 1-year H-1B extensions beyond the six year limit. In addition, if the individual's I-140 petition has been approved and the individual's Priority Date is not current, then an individual is eligible to apply for 3-year H-1B extensions beyond the six year limit.

[monusoni]

Does that mean, PERM/GC process will not be impacted if i change the L1B to H1B around 3-4th year time frame.?

Thanks in advance.