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Experts feel EB5 Golden Visa Scheme of the USA Likely to be Extended

December 2017, 08
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EB5-Golden-Visa-Scheme-of-the-USA
The EB5 visa program was introduced by the US Congress in 1990. It permits a person to invest $500,000 in two options. Firstly they can invest in Targeted Employment Areas which are areas of high unemployment in US metropolis, and in a rural area away from a metro. The second being $1 million in non-Targeted Employment Areas, which is in a position to create, 10 or additional jobs, and both of these helped them to get the citizenship of US in a short time compared to the H1-B visa holders.

The extension of three-months, previously given to the US EB5 visa scheme, ends on December 8th, but experts feel that the scheme is likely to get extended.

The discussions regarding revision of the EB5 visa program have not been pursued, but investors have continued to submit an application for it.  EB5 Visa is popular and presents an attractive path to attain the permanent residency status in the USA. The present US administration is active to reform immigration laws. Experts feel that it is unlikely that the program will be withdrawn; there is a possibility that the amount of investment will be revised upwards. The increase will not see immediate implementation but the Congress will grant a notice of 30 or 60 days before implementing it.

US President Trump has called for strict norms to issue H1-B visas, which are taken by Indian IT firms, and hence the EB5 visa faces a great demand as a short route to attain citizenship.

was also earlier this year in the US Congress by Zoe Lofgren a Democrat has introduced A private member's bill with the aim to increase the minimum salary payable to an H1-B visa holder from $60,000 to $130,000. The EB5 visa program has become controversial and the critics believe that it places US citizenship for sale.

Stating that authorization for the EB5 program has been carried out temporarily on Congressional spending bills from September 2015, experts feel that important US Senators have been dealing with the EB5 reform bill with trust and have made significant progress. The main negotiators will agree in principle and provide 5-year reauthorization to the program

If this scheme is extended, Indian applicants must consider two issues of the EB5 scheme: they were the expected price increase and retrogression. December 8, is a diversion, and the scheme being desirable for Indians they need to make all their moves quickly.

  • The demographic profile of Indians who apply for this EB5 visa had: Students studying in the US,
  • Workers who are already in the US on H1B visas,
  • Business owners aiming to expand into the country,
  • Families looking for relocation to the US

The present Trump administration is scrutinizing all visas in a hard manner and it has implemented tough immigration regulations. The screening process of applicants has been increased in each category. All the EB5 investors need to work with immigration attorneys who have experience and expertise.

Also, there is a feeling that the Trump administration is in favor of the EB5 program because it creates many new American jobs every year, without costing it to the taxpayer. Some reforms are needed to protect investors and remove the bad actors in the program. The investments made by Indians under this program are that a majority of them prefer projects in real estate, followed by restaurant franchise as well as the hospitality industry.

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