More Indians applying for EB-5 visa to enter US

As the Trump administration tightens its grip on visa regimes aiding legal immigration to the US, the extension in deadline related to EB-5 visa has concluded in wealthy Indians increasingly taking the  ‘Golden Visa’ route. 

Since September 2015, the US immigration authorities have thrown in rapid efforts to spike the minimum investment for EB-5 from $500,000 to $920,000. The deadline for the same has now been extended to January 19, 2018.

Entrepreneurs along with parents of students pursuing college in the US are in a hurry to invest at a cheaper price. 

“Since the investment is likely to get more expensive, Indians want to cash in at a cheaper price. We received around 15 queries a week and about 60 queries a month from India inquiring about the EB-5 programme. Seeing the spike in Indian applications we are moving forward with opening an office in Mumbai,” said Abhinav Lohia, executive vice president, India and the Middle East, CanAm Enterprises, an EB-5 immigration services consultant. 

“I have started making frequent trips to India conducting seminars about the programme talking to banks, real estate developers, parents etc. The proposal to not allow the spouse of H-1B visa holders to work in the US too has made people gravitate towards EB-5,” said Rohit Kapurina, attorney and EB-5 expert at Law firm Arnstein & Lehr’s. 

 The minimum investment limit of $500,000 has remained the same since the rollout of the EB-5 programme and the US Congress has been making active efforts to raise the limit. 

“Indian parents and their children comprise of more than 50% of applicants for EB-5 followed by young professionals and HNIs,” observes  CanAm Enterprise. 

Rimit

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