Indians opt for EB-5 Visa program to fulfill their American dream
The number of Indians pursuing their American dream of obtaining permanent residency and green cards through the EB-5 Visa program has been steadily increasing in recent years.
This trend has been particularly prominent since the US govt. renewed the popular green card by investment program, the EB-5 Visa Program, last year. The program has proven to be not only one of the fastest but also the most reliable ways for Indians to obtain a US green card.
Recent figures on citizenship renunciations released by the Indian government reveal a growing number of Indians seeking a better future in the West.
In 2022 alone, 2.25 lakh Indians chose US citizenship, with nearly half of them (78,284) opting for the US, followed by Australia, Canada, and the UK.
The EB-5 visa has garnered significant interest from Indian investors. The overall demand for EB-5 visas has increased by approximately 400 percent between 2016 and the beginning of 2019.
Under the EB-5 visa program, investors can obtain a conditional green card that initially remains valid for two years. To qualify for the conditional green card, investors must invest a specified amount of capital, typically around ₹8.6 crore or ₹6.4 crore in a targeted employment area (TEA), and create or preserve a certain number of jobs in the United States.
After holding the conditional green card for two years, EB-5 visa holders can apply to have the conditions removed by applying with the U.S. Citizenship and Immigration Services (USCIS). This involves demonstrating the sustainability of the investment and the creation or maintenance of the required jobs. If the application is approved, the investor will receive a permanent green card, allowing them permanent residency in the United States for ten years.
One of the significant advantages of the EB-5 visa is the absence of restrictions on the area where visa holders can study or work. They are also eligible to start businesses in any part of the country. Additionally, the program has become more accessible and attractive due to the option of filing the EB-5 visa petition concurrently.
Another reason for the growing number of Indians turning to the EB-5 visa program is the assurance of long-term residency in the US. The possibility of obtaining residency through several years of employment is becoming increasingly remote.
To navigate the complexities of the EB-5 visa program and stay updated with the latest developments, it is advised to work with reputable and knowledgeable immigration consultants who specialize in the EB-5 visa program. Conducting due diligence, verifying their credentials, and seeking referrals or reviews can help ensure that the consultant is qualified and trustworthy. These consultants can expedite the visa application process by staying abreast of current market trends and precise visa criteria.
The EB-5 visa program offers a unique opportunity for Indians seeking to immigrate to the United States and enjoy the benefits of permanent residency and citizenship. Despite challenges posed by the COVID-19 pandemic, economic downturns, and regulatory changes, the demand for EB-5 visas among Indians remains high.
This is primarily due to the program’s ability to provide a faster, easier, and more secure pathway to obtaining a green card compared to other visa options. Additionally, the EB-5 visa program allows Indians to invest in projects that create jobs and contribute to the US economy. By choosing the EB-5 visa program, Indians can achieve their personal and professional goals and secure a better future for themselves and their families.