Us intention to increase the investment limits worry some for EB-5 Visa applicant from India

Hyderabad: The experts said that number of Indians opting for employment –based EB-5 visas to US which seen rise in recent is set to fall hard and fast situation as US in planning to increase minimum investment for up to $1.3 million as it also Golden Visa.

“The applications from India are expected to fall by around 80% if the minimum investment limit is raised from $500,000 to $1.3 million,” said Abhinav Lohia, vice-president, India and the Middle East, at immigration consultants Can Am Enterprises. EB-5 visa, also known as the ‘golden visa’, provides permanent US residency for applicants and families upon investing a minimum of $500,000 and creating 10 jobs. The time taken to get a green card or permanent residency in the US, through EB-5 route is 2-2.5 years while it takes 10-15 years for holders of other visas such as the H-1B to get a green card.  Currently, US Congress is also considering a proposal to raise minimum investment to be eligible for EB-5 visas to $800,000 or $920,000 or $1.3 million informed as per Lohia.

HE also added the number of EB-5 visa applicants from India has more than doubled since 2014 and the country is anticipated to surpass Vietnam this fiscal to become the second largest applicant country after China. In 2016-17, more than 500 Indians applied for EB-5 visas against 354 applicants in the previous year. “Sectors like real estate, restaurants and hotels in the US have been the major attraction among the Indian investors through EB-5 route,” Lohia said. “Indians also eye Silicon Valley to set up their business through the EB-5 route as it gets easier to reach out to the investor groups,” he said

While it seems that the Trump administration may bring in further restriction for the H1B specialty worker visa and L-1visa programs (includes the L1A intra-company transfer visa for executives and managers and L1B intra-company transfer visa for specialized knowledge workers).  There are also concerns that the EB5 immigrant investor’s visa Program may become much more difficult in future or may even be cancelled.  Wealthy Indians are turning to the EB5 immigrant investor visa to secure a coveted US Green Card ahead of possible changes. The EB5 Immigrant Investor Visa Program enables high net-worth individuals (HNIs) to gain a Green Card and permanent residency for themselves and immediate family members.  Indian nationals unlike many other nationals are unable to come under the E2 Treaty Investor or E1 Treaty Traders visa category. Investors are required to make a one-off investment of at least $500,000 into a US company that generates 10 or more US jobs. According to a report published filings for EB5 visas have already hit record levels in 2017, with India ranking as the fourth largest beneficiary of the EB-5 immigrant program in the world.

H-1B visas allow companies to employ foreign workers in specialty occupations in the US, where India has been the biggest beneficiary, Currently, the US government is considering plans to more than double the H1B salary requirement from $60,000 to $130,000 as part of the H-1B Reform Bill, a move that would make the program virtually inaccessible for most Indian students graduating.