With H1B visa curbs, EB5 best bet for Indians

Tribune News Service

Chandigarh, June 27

In view of the uncertainty over H1B employment visas, the EB5 visas have become the best bet for enterprising Indians looking to settle in the US.

This trend, currently popular among immigrants from urban centres in India, is slowly catching up in the North too.

Mostly used by software professionals, the awareness about investing $ 550,000 or Rs 3.55 crore, at approved regional investment centres in the USA are helping immigrants, their spouses and dependent children in getting a green card is a big hit.

Visiting US Investment Attorney, Vaughan de Kirby, told TNS that “People want their children to get educated and apply for admissions to top US universities. Many start ups and entrepreneurs are also realizing the ease of doing business in USA than India,” he said.

Under this visa programme, the applicant first submits a project he wishes to set up which is scrutinized and okayed by the Regional Investment Centres. Other than making an investment of $ 550,000 the project has to show that it can create at least 10 jobs for US citizens. Last year 149 Indian applicants were selected and around 127 applicants are so far in consultation for taking the EB-5 route through his company, De Kirby Juris and Associates, he added.

In fact, the number of immigrants taking this route is just 1.5 percent, as compared to 75 per cent of such visas going to the Chinese,” he added.