EB-5 Visa Programme

The entry to America through the capital investment route is becoming popular, and Indians, particularly students and professionals in STEM (Science, Technology, Engineering, and Mathematics) fields, can consider this option, an expert on US immigration law has said. Speaking here on the current state of the EB-5 Immigrant Investor Program, Indian American immigration attorney Nadadur S Kumar said it is no longer a niche option. The EB-5 visa grants lawful permanent resident status (a green card) to foreigners with a minimum investment requirement of $8,00,000 (Rs 6-7 crore). The rise in property values and home equity has enabled more Indians to fund their investments, often with the support of parents. Many H-1B visa holders and students transitioning from F-1 to H-1B status in the US have also been able to leverage their financial progress to pursue EB-5," he said. The visa programme is becoming an increasingly popular pathway for Indians, particularly students and professionals

The gold card, priced at $5 million, is set to replace the EB-5 visa scheme, a 35-year-old investor visa programme offering US green card benefits to foreign nationals

H1-B visa requires a sponsor for the immigrant to stay in the US but no such sponsorship is needed in the EB-5 scheme

India is the fourth largest market for the visa category after China, Vietnam, and South Korea

Before costs double next year, number of applications from India rises fourfold

EB-5 investor visa programme allocates up to 10,000 visas annually to foreign nationals, with a per country cap of seven per cent

At present, under the EB-5, an Indian is required to invest $500,000 (Rs 320 million) for self, spouse, and any number of unmarried children

A total of 10,000 visas are up for grabs every year with no country allowed more than seven per cent of all visas

Rich Indians are opting for the EB-5 programme to cut through the line for permanent residency