Investment route for US residency to get costlier

– Recent steps by US of extreme vetting of visa applications, especially of the H-1B visas, have boosted the popularity of EB-5 visa among rich Indians.

– A child wishing to study and later work in the US is gifted the requisite investment money to enable him to become a US resident under this route.

ndians wishing to obtain a quick, even if expensive route, to the US as permanent residents, can breathe a sigh of relief. The investment link visa route or the EB-5 is likely to continue but will get more expensive, by as much as Rs 5 crore.

Recent steps by US authorities of extreme vetting of visa applications, especially of the H-1B visas+ for entry level employees, have boosted the popularity of EB-5 visa among rich Indians. A child wishing to study and later work in the US is gifted the requisite investment money to enable him to become a US resident under this route.

The number of such visas given to Indians has increased from 90 in 2016 (twelve month period ending September 2016) to 174 as of September 2017. In all, 10,000 such visas are issued each year. From India, the number of applications for such visas has increased exponentially, in recent months, say immigration experts. A series of recent tweets by the United States Citizenship and Immigration Services (USCIS), allays fears that this programme will come to an end. One of the tweets states: “EB-5 visas provide lawful permanent residence to foreign nationals who promote economic growth in the United States. We’re working to fix the programme.”

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