Many Indian citizens are inquiring about the EB-5 visa program in order to obtain a U.S green card. An alternative to life in India, many individuals have considered to live the American dream and work in the United States.
Such instances have made the EB-5 visa program highly popular across all of India. The number of Indians applying for this program have doubled this year and that number is expected to grow even more in the near future. India is currently ranked fifth as a user of the EB-5 program preceded by China, South Korea, Vietnam and Brazil.
What is EB-5?
The EB-5 visa program was created in 1990 by the U.S Congress to enable foreign investors to obtain U.S green card through making a economic investment. The investments must create jobs for U.S. citizens, therefore benefiting the economy.
A minimum of $500,000 needs to be invested by a Indian citizen into a new commercial enterprise, enabling them to apply for a U.S. green card. It is one of the simplest, fastest and easiest ways to immigrate into the U.S and many Indians consider it to be the best alternative to H-1B, EB-2 and EB-3 visas.
One main attribute behind the success of the EB-5 visa program in India is the benefits it provides to the applicants at large. A large attraction point is not being visa wait listed, making it one of the fastest ways to immigrate into the U.S. This grants applicants the ability to live and move anywhere in the U.S at any time and even lowers their education fees. There are no education or employment requirements for the entire visa process.
While the EB-5 visa has been established for over 27 years, its minimum requirements have remained almost the same. However, what’s quadrupled is the number of high net-worth individuals, businessmen and corporate individuals applying for EB-5 visas.
The Director of Business Development for U.S Immigration Fund explains that the reason they are seeing an increase in Indian applicant, is people are considering EB-5 investment plans mainly for the future of their children. Going to the U.S and being able to live, go to school and work as a citizen of that country, eliminates their dependency on any other forms of visa or sponsorship.
The main reason behind EB-5 gaining popularity in India is due to the U.S. tightening the requirements for issuing H-1B visas. H-1B were the most popular type of visa issued to Indian nationals looking to move to the U.S. for work and establish residency and require renewal every few years.
Organizations like the United States Immigration Fund have been spreading awareness in India showcasing that the EB-5 visa program is one of the easiest routes to establish permanent residency in U.S. There has been a growing interest amongst families in India that are looking to launch their business operations abroad and create greater mobility and freedom in their professional lives without having to rely on a sponsor.