EB-5 visa is widely seen as the fifth preference employment-based visa programme in the United States (US). One of the most-expensive routes to get permanent residency in the US, the visa is likely to get more expensive. According to a news report, the EB-5 visa may cost more to get. The visa is popular among rich Indians seeking permanent stay (not citizenship) in the US. There have also been fears that US may pull a plug on these visas. However, United States Citizenship and Immigration Services (USCIS) recently allayed these fear in a series of tweets. One of the tweets said, "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."
Here's all you need to know about EB-5 US visa...
* The EB-5 visa was created by the US Congress in the year 1990.
* The purpose of the EB-5 visa is to stimulate the US economy through job creation and capital investment by foreign investors.
* Investors can also qualify for EB-5 visa by investing through regional centers designated by USCIS based on proposals for promoting economic growth.
* The EB-5 visa is an immigrant programme that offers permanent residency for foreigners who invest at least $500,000 (about Rs 3 crore) in projects that will generate at least 10 full-time jobs in the US. However, as mentioned above, the cost may go up by as much as another few crores. the minimum threshold investment limit was proposed to be raised from $1 million (R s6.4 crore) to $1.8 million (Rs 11.4 crore).
* Under EB-5 visa programme, individuals can apply for lawful permanent residence in the US after making the necessary investment and creating at least 10 permanent full-time jobs for US workers. Post this, they are granted conditional permanent residence for themselves, spouse and children aged below 21 years. After two years, the visa recipient can apply for lifting of the "conditions". If approved, he/she and their family can get permanent right to live and work in the US.
* Some American immigration consultants are also reportedly pitching the EB-5 visa to Indian IT companies like TCS, Infosys and Wipro to sponsor select employees for the visa given the uncertainties around the popular H-1B programme.
* The interest in EB-5 visas has consistently increased in recent years in India. According to a report in economic times, this has resulted in a jump to 354 in 2016-17 from 239 petitions in 2015-16.
* India reportedly ranks third in the total number of EB-5 applications after China and Vietnam.
* A total of 10,000 EB-5 visas are up for grabs every year. No country in the world is allowed to get more than 7% or 700 slots of these visas.
* Most of the money invested under EB-5 visa programme is reportedly invested in real estate projects such as condominiums, assisted living places and hospitals. A small portion of the investment also goes in restaurants and startups.
Here's all you need to know about EB-5 US visa...
* The EB-5 visa was created by the US Congress in the year 1990.
* The purpose of the EB-5 visa is to stimulate the US economy through job creation and capital investment by foreign investors.
* Investors can also qualify for EB-5 visa by investing through regional centers designated by USCIS based on proposals for promoting economic growth.
* The EB-5 visa is an immigrant programme that offers permanent residency for foreigners who invest at least $500,000 (about Rs 3 crore) in projects that will generate at least 10 full-time jobs in the US. However, as mentioned above, the cost may go up by as much as another few crores. the minimum threshold investment limit was proposed to be raised from $1 million (R s6.4 crore) to $1.8 million (Rs 11.4 crore).
* Under EB-5 visa programme, individuals can apply for lawful permanent residence in the US after making the necessary investment and creating at least 10 permanent full-time jobs for US workers. Post this, they are granted conditional permanent residence for themselves, spouse and children aged below 21 years. After two years, the visa recipient can apply for lifting of the "conditions". If approved, he/she and their family can get permanent right to live and work in the US.
* Some American immigration consultants are also reportedly pitching the EB-5 visa to Indian IT companies like TCS, Infosys and Wipro to sponsor select employees for the visa given the uncertainties around the popular H-1B programme.
* The interest in EB-5 visas has consistently increased in recent years in India. According to a report in economic times, this has resulted in a jump to 354 in 2016-17 from 239 petitions in 2015-16.
* India reportedly ranks third in the total number of EB-5 applications after China and Vietnam.
* A total of 10,000 EB-5 visas are up for grabs every year. No country in the world is allowed to get more than 7% or 700 slots of these visas.
* Most of the money invested under EB-5 visa programme is reportedly invested in real estate projects such as condominiums, assisted living places and hospitals. A small portion of the investment also goes in restaurants and startups.
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