EB-5 visa, called the “Golden Visa,” allows foreign investors to get permanent resident status in the U.S. and a fast-track to U.S. citizenship in exchange for investing half a million dollars or more into job-creating projects in the U.S.
Now that the rules for getting H-1B visas are getting stricter, many are trying to find a different way to get residency status in the U.S. and achieve their “American Dream.” Indians and other foreign nationals who have been receiving the largest share of H-1B visas and who now think it is difficult to get this work visa are now exploring the EB-5 visa program. The demand for these visas is increasing.
This EB-5 visa program is one of the ways through which wealthy foreigners can get green cards in the U.S. Currently, China is the largest beneficiary of the EB-5 visa program. Experts claim that India, which is now sixth in the list, will soon take the second place after China. This will happen if wealthy Indians choose to get green cards in the U.S. by making an investment of half a million dollars or more in U.S. ventures. However, only rich Indians who can invest the said amount may be eligible for a “Golden Visa.”
As a result of President Donald Trump’s executive order on the H-1B visa program, outsourcing companies that depended on the H-1B visa program to bring in foreign workers have announced their plans to hire more U.S. citizens. Many companies like Infosys and Cognizant have planned to hire Americans and create jobs in the U.S.
This is bad news for Indians who were longing to reach their American goal through the H-1B visa program. Such individuals are now looking for alternatives. EB-5 visa is an expensive alternative for many who wish to settle in the U.S. The Indian middle class may not have options other than the H-1B visa program and U.S. student visas. The EB-5 visa program that was introduced in 1990 to stimulate the U.S. economy by foreign investment, is now helping the wealthy community to achieve their American goal.