Pay Rs 7 Crore & Get Assured Green Card: EB-5 Visa Is The New Favourite After H1B Ban
Surge In EB-5 Application
According to experts, the market demand is driven by current H-1B and H4 visa holders in the US and India as uncertainty around immigration is increasing day by day.
But the best part is, this increased interest is coming after a steep hike in the investment amount for the visa from $500,000 to $900,000, as the global economy is on the edge of the slowdown.
“What we are seeing is a sudden surge in EB-5 since the first proclamation in April, after a steep slump between December and March,” said Abhinav Lohia, Director, South Asia and the Middle East, CanAm Investor Services, an immigration services firm.
Moving ahead, most of the inquiries are coming from the current Indian H-1B and H4 visa holders, who have spent decades there, living and working, currently worried about their status.
He added, “As uncertainty mounts, those who can afford it are looking at EB-5 visas that could guarantee a Green Card that H-1B could not,”.
Why Is The Surge In EB-5 Visa?
One answer could be the Indians continue to aspire to work and live in the US and Also, the huge backlash against H-1B visa holders in the US is one of the reasons.
This all started when in 2017, the Trump administration took over.
Thousands of techies have returned home in the last three years, migration caused due to the pandemic and on top of that stringent visa regulation that continues around H-1B visas.
Currently, around 5 lakh Indians are waiting for their Green Cards and as per the estimation, it would take up to 150 years before these Indians get their GC, which can be considered a ‘never’ for them.
So, the ultimate solution is Indians, who can afford it are looking at fast-tracking their Green Card through the EB-5 route, which can be further useful for their children.
Fortunately, getting your hands on a Green Card through EB-5 takes only 3-5 years, unlike H-1B visa holders.
However, it has a country cap of 700 per year for EB-5 visas, which we Indians reached in July 2019 only.
So far, the H-1B visa is granted by the US to 85,000 highly -skilled workers every year, that too, mostly in the technology industry and having validity for up to 6 years.