By EB-5 Daily
Applicants from Mainland China have been quietly taking advantage of the unique program for years, but due to immigration crackdowns and over-subscription to other visa categories, a number of other countries, including India, have recently turned to the EB-5 Program as a more secure way to obtain a U.S. visa.
EB-5 Program applicants who invest $1 million in a new commercial enterprise (NCE), or more commonly $500,000 in NCE located in a targeted employment area, and creates 10 qualified jobs, are eligible for lawful permanent residence in the U.S. for themselves, their spouse and their unmarried children under the age of twenty-one.
One country in particular that has seen a sharp rise in EB-5 applications is India. At the end of the 2017 Fiscal Year, India nationals were issued 174 EB-5 visas, a 17% increase from the previous year. There are several possible reasons for this rapid increase in popularity and they are mostly centered around the disadvantages of the H-1B visa.
The H-1B Program is facing changes. The H-1B visa used to be a popular choice for Indians. They made up more than 70% of the H-1B visa holders. However, potential changes have made Indians question whether they should apply.
1. One reason why is because H-1B applications are being scrutinized more closely.
2. Another reason why is because one reform being talked about is the shortening of the H-1B visa term.
3. Probably the biggest reason Indian nationals are turning to the EB-5 visa over the H-1B visa is that the H-1B visa is facing a backlog and slow processing times.
4. The H-1B visa also may not appeal to wealthier applicants who can apply to the EB-5 Program and obtain more benefits. The H-1B visa requires an employer sponsorship, which means that applicants are limited to where they can live and work, whereas, the EB-5 visa has no such limitations.
5. Additionally, a new push for hiring Americans, by the Trump administration has led many employers to turn away from programs such as the H-1B program in favor of hiring U.S. workers. This has drawn applicants to apply to the EB-5 Programs because of their requirement that investors create jobs for U.S. workers as opposed to taking jobs from U.S. workers like they would if they applied for the H-1B Program.
Original Post: EB5 DAILY