Sunday, June 18, 2017

Rich Indians applying for costly EB5 visas

(Source: Sunday Guardian Live)  The number of wealthy Indians applying for costly EB5 visas at US embassies is increasing every year. EB5 visas enable one to directly become a green card holder  in the US, unlike the H1B visa, procuring which has become uncertain for Indians after the Donald Trump administration’s anti-immigration policies. However, for obtaining an EB5 visa, one of the best alternatives to get a green card, the total investment required is $500,000 (Rs 3.3 crore) for a family (investor, spouse and children below 21 years) and the time taken to process the application is around 18 months. Unlike the EB5 visa, it takes at least 15-18 years for an H1B visa holder to become a green card holder.

With 239 EB5 visa applications filed by Indians at the US embassy in 2015, compared to 99 in 2014, India has been ranked as the third country after China and Vietnam to be the largest investor in the United States by way of EB5 visas, with an investment of over $120 million, registering a growth rate of 140% since 2014. Procuring EB5 visas amounts to investing in the US, with a minimum amount of $500,000 (Rs 3.3 crore) legally acquired by the investor. Read more at http://www.sundayguardianlive.com/

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