H-1B fears, green card worries forcing Indians to invest $500k in EB-5
Los Angeles : US President Donald Trump has once again been able to scare Indians in the most terrible manner.
According to a new report by TOI, every week, on an average, three Indians are shelling out half-a-million dollars to make their ‘American dream’ come true.
The report says that Indians are now trying to make a go at living the American dream, through a sponsored 'invest in the US and get a green card' program called the EB-5.
Those who don’t know about the EB-5 Investor Visa program- it is an opportunity for those immigrant foreign nationals who want an immediate entry into US with family (children up to the age of 21). Such immigrants want to obtain US green cards and permanent residency in mainly two ways- first by investing a minimum of $1 million, start a business from scratch and create 10 full-time American jobs.
The second process involves a one-time investment of $500,000 (Rs 3.4 crore) into a government-approved EB-5 business that creates 10 or more full-time American jobs in rural areas.
The current rush for EB-5+ has been attributed to two factors: uneasiness over the Trump administration's take on H-1B+ and the expiry of the EB-5 visa program in April.
The new proposed changes by the United States Citizenship and Immigration Services (USCIS) will raise the minimum investment amount from $500,000 to $1.35 million.
