Upsurge among Indians to get Green cards
Three Indians per week are forking out half-a-million dollars for an American Green card.
There exist multiple modes under EB-5 Investor Visa Program that allows investments to be made in the range of $500,000 to $1 million to speedily acquire permanent residency in the United States.
Upon fulfilling terms of investment, one can be granted a Green card in as soon as two years.
What is EB-5 visa?
The 'EB-5 Investor Visa Program' is an opportunity for foreign nationals and immediate families (children under 21) who wish to immigrate to the US and are keen on acquiring green cards and a permanent residency in a shorter frame of time.
How does EB-5 visa program work?
Under the EB-5 Visa program, one can invest minimum $1 million to starting a business from scratch which would create 10 full-time jobs for Americans.
Alternatively, one can invest $500,000 into a pre-approved government business to create 10 or more American jobs in rural areas.
However, this program isn't a guarantee: if invested funds fail to create jobs green cards may also be rejected.
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What is driving the sudden rush for EB-5?
Primarily two factors are driving the sudden rush.
Additionally, 'US Citizenship and Immigration Services' intends to significantly modify the 'EB-5 Investor visa program' by raising minimum investment to $1.35 million from the current $500,000.
Top Indian executives driving up tick
Reports say approvals granted to Indians under EB-5 visa program has been increasing by 30% every year.
Top executives from corporates like McKinsey, Aditya Birla, Reliance and wealthy business families are adopting the EB-5 route to ensure a future for their children.