Indians will soon exceed the annual E-B5 Visa cap for the first time as revealed by the immigration experts in the US. This may further make the visa elusive for them which were easy to be obtained so far. The experts are also of the view that as the annual EB-5 Visa cap is exceeded, the visa pathway may no longer remain a smooth ride for the Indians.
Increased numbers of Indians are opting for the Immigrant Investor Program EB-5. This is even as regulations for other visa categories such as H-4 and H-1B become more stringent, as quoted by the Economic Times.
The EB-5 Program in the US offers Green Cards or PR to the Entrepreneurs, their spouses, and their children below 21 years. They have to make an investment of 500,000$ and plan to preserve and create 10 full-time and permanent jobs for the US workers.
The latest official figures in the US have revealed that 500 plus applications have been filed by the Indians for the EB-5 visa. These figures are from October 2017 to September 2018 period. Various immigration firms in the US have also added that they are witnessing the steady rush of applications for this visa.
It has been estimated that India will utilize its EB-5 Visa cap of 700 for 2019 by June of the year based on applications filed in 2016 and 2017. This will result in increased waiting times for Indians between the approval and allotment of Green cards. It means visa retrogression. This is the analysis of leading consulting firms in the US processing EB-5 visas for Indians.
In the past 2 years, there has been a threefold increase in the number of EB-5 visa applications filed by Indians.
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