EB-5 Visa: After the change in the Birthright Citizenship rules in America, people are now adopting all measures for permanent citizenship. For this, people are ready to take measures like giving birth to children early, waiting in long queues. On the other hand, for those LGs who are able to pay a million dollars, citizenship can be a check away.
EB-5 Visa: Amidst the recent changes, Indians or people working or studying in America who want to get American Green Card can apply for EB-5 visa for American citizenship. People can easily get permanent residence status in America under the EB-5 visa program. Let’s know how.
Applicants are allowed to work and run their business during EB-5 Visa
Applying for these visas takes 6 to 8 months and during this time applicants are allowed to work and run their business. It does not require long waiting or processing like H-1B. This visa route is different from the usual routes of H-1B and L1 where visa applications are far higher than the national limit.
The EB-5 program was introduced in 1990. It was originally brought in to turn the desire for a green card into an investment and employment opportunity for Americans living in rural and underdeveloped areas of the US. Interested immigrants can invest as much as $5,00,000. Just because the EB-5 visa is used by the wealthy doesn’t mean it has fewer takers. Two thousand EB-5 visas are set aside for investors who pay $800,000 in each rural US location.
Foreign investors will have to invest in the target employment area
For this visa, foreign investors like Indians will have to invest $800,000 in the Target Employment Area (TEA) or $1,050,000 in other areas. Along with this, they will also have to create 10 full-time jobs. But, there is a problem in this. Many investors and big builders manipulate the system and invest more in urban areas than in rural areas. This issue has been raised repeatedly in the last few years. According to the New York Post report, now under the new rules to be implemented in 2022, 20% of these visas are reserved for rural projects. But these programs have also been rigged.
Rohit Bhardwaj, Director of Private Clients, Henley & Partners India, told Money Control, “There may be a race among the Indian community living in the US on H1-B visas to apply for EB-5 visas. Parents of children from India who are currently studying on F-1 visas may see EB-5 visas as a priority to get green cards for their children.” Read – Latest updates of all the big news of the country and the world
