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Business News/ News / World/  Amid US H1B visa delay, THIS option is in high demand among Indians
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Amid US H1B visa delay, THIS option is in high demand among Indians

The rising demand for EB-5 visas among Indians can be attributed to the restrictions and uncertainties associated with the H1B program, Nicholas A. Mastroianni, III, President and Chief Marketing Officer of U.S. Immigration Fund (USIF)

In 2019, there were 756 EB-5 applications filed by Indians and in 2022, there were 1,381. (AP)Premium
In 2019, there were 756 EB-5 applications filed by Indians and in 2022, there were 1,381. (AP)

Obtaining an H1B visa from India is a significant challenge owing to the fact that there is always a higher number of applicants than available visas. Hence, the chances of rejection are always high. Amid such uncertainties, experts pointed out there is an increasing interest in EB-5 visa programme among Indians in recent years.

EB-5 visa programme is a path to permanent residency in the United States for foreign investors. Though it has its own set of requirements and limitations, it offers a viable alternative for those who may not qualify for an H1B visa.

How strong is the demand for EB-5 visas among Indians? 

U.S. Immigration Fund (USIF) cited the demand for EB-5 visas for Indian investors rose 400% between 2016 and 2019. The program then lapsed, throughout Covid, and now that it is back, the number of applications has almost doubled from what it was in 2019.

Also read: US Says Some Companies Cheat H-1B Lottery, Driving Record Applications

Why there is a sudden uptick in demand for EB-5 visas among Indians?

Nicholas A. Mastroianni, III, President and Chief Marketing Officer of USIF, says, the reasons for this surge in interest from Indians are multi-fold. 

Firstly, the H1B program, which allows skilled foreign workers to work in the United States, has become more restrictive, making it difficult for Indians to qualify for it. The H1B workers are at the mercy of their employers, and if they lose their job, they have to uproot their entire life and move back to their home country. This uncertainty has made the EB-5 program, which offers a permanent solution, more attractive to Indians.

Another factor contributing to the surge in interest from Indians is the presence of a significant Indian population in the United States. Many Indians are already in the country on F1 student visas or H1B work visas, and the EB-5 program offers them a chance to obtain permanent residency.

In terms of the states that Indians are preferring to invest in, there is no clear trend. However, there has been a substantial level of inquiry from Hyderabad, and Delhi and Mumbai have always been significant sources of clients for EB-5 companies.

Thirdly, spouses of H1B workers are often unable to work in the United States, and in that case, EB5 can be a better solution. 

Amid such uncertainties, the EB-5 program presents an attractive alternative for those seeking a path to permanent residency in the US.

 

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ABOUT THE AUTHOR
Sanchari Ghosh
Sanchari Ghosh is a Chief Content Producer with LiveMint. She covers news, human interest, epidemiology and personal finance stories
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 22 Apr 2023, 06:53 PM IST
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