Craze for US Visa: 1200 Indians Are Ready To Pay Rs 3.3 Crore Each For ‘American Dream’!
There are various ways to enter USA from India; and one among them is the EB-5 visa, which is considerably less popular compared to H1-B visa, which is meant for skilled workers
However, now, a new trend is coming up which enables wealthy Indians to easily enter US via EB-5 visa; and such is the craze right now that around 1200 people have lined up to experience the ‘American dream’ by paying Rs 3.3 crore or half a million dollars to instantly get EB-5 visa without any hassles.
If we compare with last US fiscal year (October 1, 2015 to September 30, 2015), then only 111 Indians received EB-5 visa; but this US fiscal year (from October 1, 2015 till date), 1200 Indians have already applied for this special visa, which can cost them Rs 3.3 crore per head.
Wealthy Chinese are the #1 recipients of EB-5 visa, as 8156 such visas were approved last US fiscal year. Even a small country like Vietnam received 280 EB-5 visa approvals from USA.
What can triggered such massive jump in EB-5 Visa requests from India?
EB-5 Visa: The Investor’s Way Of Entering US
US Govt. has designed EB-5 visa which allows foreign nationals to invest money and get instant visa. As of now, any foreign national can invest $500,000 and get instant EB-5 visa. However, beginning October 1, 2016, the minimum amount required for EB-5 visa has gone up to $800,000.
This is the reason applications have suddenly gone up, and and there is a virtual stampede to get access to US visa via investment route.
Once the investment is approved, EB-5 visa is approved within 15-20 months, and within 5 years, the person can get a green card which can lead to US citizenship after 5 years.
Last year, it was revealed that 65% of all short-term visas approved by US Govt. is for Indians as we are #1 country to get US visas. Recently, US Govt. eased L-1B visa norms for Indians, making it more easier for Indian companies to transfer employees from India to US and vice versa.
Besides, talks are already on to extend F1 visa (students) holders’ stay by 6 years, which will further boost employment opportunities for Indians.
An MoU has already been signed between USA and India for speedy immigration clearance at US airports.
After H1-B visa quota was reduced for Indians, there was apprehension among Indians regarding their US entry. But with growing demand for EB-5 visa, it is clear that Indians won’t mind paying a huge amount to fulfill their American dream.