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India
17 Feb 2017

Upsurge among Indians to get Green cards

Indians lining up to apply for 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.

In context

Indians lining up to apply for green cards

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.

Details

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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Key reasons

What is driving the sudden rush for EB-5?

Primarily two factors are driving the sudden rush.

The Trump administration has been vocal about overhauling work visas granted to immigrants especially the H-1B; the current EB-5 visa program is also expected to expire in April.

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

What Transpired

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.

Despite surge, India lags far behind China: in 2015, 111 approvals were granted to Indians as compared to 8,156 to the Chinese.

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