Technology companies in India, looking to ease the legislative difficulties surrounding the H-1B US visa, which allows foreign workers to gain employment in the US, have been offered an alternative in the form of a risky and expensive US visa program, intended to create jobs and attract investments.
Indian companies, such as Wipro, Infosys, and Tata Consultancy Services, wanting to be able to get their top executives into the US are being pitched the EB-5 US visa by American immigration consultants, with smaller firms also being targeted. The EB-5 US visa is an investor program, allowing foreigners to invest a minimum of $500,000 in projects that result in the creation of ten new jobs within the US, in return for permanent residency. EB-5 regional centers are urging Indian tech companies to sponsor certain employees for the US visa due to the uncertainties surrounding the H-1B program.
According to an anonymous source close to the discussions, careful evaluation is being carried out, in collaboration with lawyers, to ensure the program is structured to comply with laws in India, with companies starting with between five to ten employees rather than doing it large-scale, to begin with.
But, Infosys and Wipro have since stated that they have no plans to use the EB-5 US visas. H-1B US visas have been traditionally popular with Indian tech firms, but this month a new bill was introduced in the US Senate to restrict the use of the visas by outsourcing firms.