Around 1,200 Indians are said to have scrambled to pay $500,000 each in order to migrate to America through the US EB-5 visa scheme. The sudden rush comes in the wake of the US government’s plan to increase the investment that applicants need to make to obtain the investor’s visa to $800,000 from the existing $500,000 from 1 October.
The period between 1 October, 2014 and 30 September, 2015 witnessed the USCIS (US Citizenship & Immigration Services) issue 111 EB-5 visas for applicants from India. The Economic Times quotes the co-founder of LCR Capital Partners, Rogelio Caceres, as saying that the popularity of EB-5 programme is soaring with more countries apart from China availing it. In 2015, EB-5 visa programme attracted 18,000 entrepreneurs from across the world, said Caceres. According to US Freedom Capital’s Ankit Bhandari, Indians are also following in the footsteps of the Chinese, as they too are waking up to this opportunity. In addition, Indians are preferred over citizens from other countries in the US, adds Bhandari.
If the applicants manage to earn a higher return on investment at the end of five years, they will have the choice to stick with the project. In addition, they will also get the opportunity to redeem points, which will allow them to obtain a Green Card.
If you are planning to visit the US for studying, touring or business purposes, do visit one of Y-Axis offices at 19 locations across India on guidance for filing for a visa and related services.