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Indians Showing More Interest for EB5 Visa as H1B Visa Tightens

Indians Showing More Interest for EB5 Visa as H1B Visa Tightens

EB5 visa applications in the last four years have tripled. It is increasingly becoming popular among Indians as H1B visa shortage, and long queue to permanent residency becomes unbearable. In 2014, around 111 Indians sent in their EB5 visa applications. The count is expected to be anywhere between 500 to 550 visa applications for 2017, though the exact number isn’t yet revealed.

Rogelio Caceres, co-founder, LCR Capital partners, said that awareness about EB5 visa among Indians has greatly increased over the past few years. At LCR Capital partners, they’ve seen a 300 percent growth between the 2016 and 2017 fiscal years. They served 29 clients in 2016 and 63 clients in 2017. Until now, they’ve already received 21 EB5 applicants in 2018. Vivek Tandon, founder and chief executive officer, EB-5 BRICS, said that there is a high possibility that US Congress will soon be passing legislation to increase the least investment amount against which applicants receive US green card. According to the current legislation, visa applicants have to invest $500,000 in any business and create 10 full-time jobs.

Message for Indian investors
Tandon said that the legislation was introduced in 1990, which means it needs to be updated. The US government feels the need to stand next to other developed countries and therefore, is planning to increase the investment amount to $1 million. David Gunderson, founder, US Freedom Capital, said that many Indian parents are investing in EB5 visa because their kids will become 21 in a couple of years and will have to file for their own US green card. Under the EB5 visa program, applicants are given permanent residency in 18 months, while though H1B visa employment-based path takes 15 years.

Gunderson asked Indian investors to beware about the kind of business they are investing in. He told them to invest in the businesses that have less EB5 investors because they have a greater chance of getting their money repaid on time.

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