Indians are increasingly opting for the US EB-5 Visas even as the rules for H-1B visas are getting more stringent. The numbers of EB-5 visas offered to the Indians reached record at 174 during 2016 and 2017 October. This is an increase of 149 in the previous year, as quoted by the Times of India.
The EB-5 visa program permits the individuals to apply for legal PR in the US also known as Green Cards. They can also include their spouse and kids below the age of 21 years in the PR application. The applicants of the US EB-5 Visas are required to make essential investments and create minimum 10 full-time jobs for US workers. The existing minimum investment funds are at 1 million USD that is equal to 6.5 Crores currently.
The minimum funds are reduced to 500,000 dollars for business operations in rural areas. It is also applicable to those areas with high rates of unemployment also known as TEAs – Target Employment Areas.
Immigration Experts in New York City have said that just 2 years back, many people were not even aware regarding the existence of the EB-5 program. Nevertheless, the awareness about this program has now skyrocketed. Thus the application numbers have also enhanced tremendously.
Meanwhile, the industry experts in California have also expressed their views regarding the program. The program has been present from past 30 years, they add. 2015 onwards many proposals have been placed to enhance the amount of investment. If any such proposals are accepted, it could adversely affect the petitions for the EB-5 program, add the experts.
One of the former students from India in the US on F-1 Visa Ishaan Khanna who is currently the Director of Investor Relations is among the several Indians who are choosing the program.
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