US administration looking to toughen visa measures, Indians in the US are producing a shortcut for the US EB-5 investor program, observed as a quicker path to obtaining a green card.
The increased demand appears amid thinking that the US government could cancel H4 EAD, which allows dependent spouses of US H1-B visa holders to work, and as the US EB-5 visa choice is slated to grow costlier: the least investment criteria below the route is estimated to be increased from $500,000 to $900,000 from Nov 2019.
Following rules for H1-B visa were hardened, the US EB-5 path has become an engaging opportunity for Indians to put themselves in the express lane to obtain the green card of USA– for those who are able to afford it.
An H4 visa holder appealing for EB-5 was unheard of till now, states Mark Davies, an expert in immigration, and founder of Davies and Associates LLC.
But presently, Davies' organization is working with holders of H4 visa, who are attending to invest in US EB-5 so that they remain working in the US.
The H4 visa converted as a profitable opportunity for spouses of H1-B visa holders later the Obama government made law in 2015. Some reports announced that as several as 85,000, principally women, profited from it.
But the Trump government is expected to stop this. If it occurs, dual-income families will get down to single income, says Immigration experts.
Presently, the wait time for receiving a US green card by the H1-B plan stands at well above a decade.
The rush for US EB-5 visas is assumed to rise as the minimum investment cost is expected to rise but experts added that there would be a huge rush closer to Nov 2019.
In July 2019, India surpassed the nation cap of 700 EB-5 visas announced per year and the backlog of visa now records back to 2015.
While the waiting period was previously 2-3 years, experts estimate it could go up to 8-9 years now. That is unlikely to prevent Indians.
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