It had few takers in India once, but now it’s seen as an easier gateway to a US green card
At a time when Indian work-based visa holders in the US continue to feel the heat due to stiff immigration laws, one category of visa is growing in popularity especially in the last few years.
The EB-5 or the investor visa, which once had few takers in India due to its high investment is now seen as an easier gateway to get a US permanent residency.
Delhi based immigration lawyer, Aarti Singh shares, “until a few years ago, EB-5 visa was seen as an immigration route only by businessmen in India, with a primary objective of expanding their trade in the US.”
Read: EB-5 investor visa program sees continued delay (December 6, 2021)
“However, in the recent few years, there is a marked shift in attitudes and today people are exploring this route for personal reasons such as settling their kids and families in the United States.”
So, what is it that makes the investor visa the new coveted route to the US?
Ahmedabad, Gujarat based small business owner Jaibhai Patel shares with the American Bazaar, “Many of my friends explored this route when their kids reached high school.”
“They knew that by investing in a business in the United States they have an additional chance to get their kids in the American university system at the same cost as American kids,” he said.
“Another plus point is that while you may invest in a business in a remote area of the US, you can choose to live in a bigger city with more choices for family living and educational institutes,” Patel said. “We too are considering the same route and are in touch with lawyers to streamline the process for us.”
Read: Will the EB-5 visa program get current by yearend? (November 29, 2021)
Some of the additional benefits that the EB-5 visa offers over a work-based visa include:
Immediate permanent residency
While work-based visa holders on H-1B even after having lived for decades in the United States are still stuck in unbelievable century-long green card wait lines, the EB-5 visa program offers a swifter permanent residency status.
EB-5 visa is also free from the hassle of periodically renewing the visa thus giving a sense of permanency to those who decide to immigrate and make America their new home.
Read: A window opens to get EB-5 visa with lower investment (June 23, 2021)
No country based restrictions
While those in the green card backlog would vouch for how unfair per country cap on green cards can be, the EB-5 route can make the process seem more democratic.
The EB-5 program places no country based restrictions on applicants. It is open to any non-US citizen who may wish to make an investment.
It is also fairer in the sense that all EB-5 investors are eligible for the same benefits. The primary requirement – investing $1.8 million funds remains the necessary step for everyone.
Read: What does expiry of EB-5 program mean for immigrant investors (August 12, 2021)
Access to US healthcare
While the US healthcare system has been under flak for its unavailability of a public healthcare system, the truth is that with the right insurance you can get access to some of the world’s most superior healthcare services.
Especially in old age the prospect of traveling all the way to the US for healthcare seems implausible also given the formidable costs without insurance. Having a permanent residency takes off that stress for the family of the investor as well as himself.