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US EB5 Visa Scheme Gets an Extension

December 2017, 13
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The US EB5 visa, otherwise known as the Golden Visa scheme, was given an extension till December 22. Immigration experts believe that this was good news, for all the applicants, as another short-term traditional extension, was seen.

It was introduced in 1990, and permits a person to invest $500,000 in Targeted Employment Areas, which actually are areas, where unemployment is high, in a metropolis, or also in a rural area located outside of a metro. The second option is investing $1 million in a non-TEA area, which has the capacity to create 10 jobs. Through this, they can get citizenship in the US in a relatively short time when compared to the H1-B visa holders. 

The EB-5 program has become popular because the laws to get H1-B became tough and there was an air of uncertainty. at present, many Indians who graduate from universities in the U.S. opt for the EB-5 visa which gives them the desired green card in a short time.

India is in the sixth position for obtaining EB- 5 and with better awareness regarding the various programs, applications from India to get EB-5 will increase, he observed. 

The visa programme became controversial as some critics felt that it was putting up US citizenship for sale.

Meaning and interpretation for Indian applicants

Mark Davies, another expert, said that it meant Indian applicants must consider two issues in the scheme. The price was likely to increase and the process might return to an earlier state. 

The demographic profile of Indian citizens, who apply for this visa, comprised of the students pursuing studies in the US, existing workers on H1B visas in the country, business owners with an aim to expand into the US and families wishing to relocate to the States. Presently, the Trump administration is scrutinizing all visas strictly, by implementing tough immigration regulations, and has also increased the screening process in each category.

Such being the case it was important for EB5 investors to consult experienced immigration attorneys who have an impressive record of success in processing EB5 visas.

The investments done by Indians under this program were majorly in chosen real estate projects, like other nationalities. Some of them were interested in obtaining restaurant franchises and centers of hospitality. 

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