Indians targeting quicker US PR even if it is a costly pathway can now be relaxed as the EB-5 program will continue though costlier than the current slab for funds. It is likely to get expensive by as much as 5 crores.
The latest measures of the authorities in the US have toughened the visa application process. It is especially true for the entry-level workers for the H-1B visas. This has resulted in the enhanced popularity of the EB-5 Visa amongst the affluent Indians, as quoted by the Times of India.
A child who intends to pursue education and later settle in the US is given the required funds for an EB-5 visa as a gift by the parents. This offers a quicker US PR pathway.
In 2017 the number of EB-5 visas offered to Indians increased to 174 from 90 in 2016. This is for the fiscal year ending in September. 10,000 EB-5 visas are offered annually. Immigration experts have said that the number of applications for these visas has enhanced manifold in the last few months.
The US Citizenship and Immigration Services has dispelled fears regarding the termination of EB-5 program through a series of tweets. It states in one such tweet that EB-5 program offers legal PR to overseas nationals who endorse US economic growth. The agency is working towards the betterment of the visas, it added.
The USCIS also referred to the draft rules published in 2017 January. The proposals included a hike in the investment funds and accepted views of the public till 2017 April. It also had provisions for terminating gerrymandering. These were aimed at assisting rural and high jobless areas, it added.
The draft rules proposed increasing the minimum investment funds to 1.8 million $ from the current 1 million$. This is an increase of 5 crores to reach 11 crores.
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