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Business News/ News / World/  Laid-off H1B visa holders are opting EB5 now: Expert on how to apply. EXCLUSIVE

Laid-off H1B visa holders are opting EB5 now: Expert on how to apply. EXCLUSIVE

We're receiving around 150 inquiries per day, with a significant proportion coming from individuals in the United States who have either been laid off, Nicholas A. Mastroianni, III, President and Chief Marketing Officer of U.S. Immigration Fund (USIF) said

USIF also noted, demand for EB-5 visas for Indian Investors rose 400% between 2016 and 2019.

Large US tech companies like Twitter, Amazon, and Google have recently undergone significant layoffs, leaving many H1B visa workers uncertain about their future in the country. Amid these uncertainties, experts have noted an increase in EB5 visa applications, also known as the US golden visa, and H1B visa holders are among those applying for it. While the current situation remains uncertain for H1B workers, the uptick in EB5 visa applications suggests that some are exploring alternative options for securing their future in the US.

Nicholas A. Mastroianni, III, President and Chief Marketing Officer of U.S. Immigration Fund (USIF), said, “We're receiving around 150 inquiries per day, with a significant proportion coming from individuals in the United States who have either been laid off or are concerned about losing their jobs. Many of their colleagues have already been let go, so they're understandably anxious."

How can H1B visa holders who have been laid off apply for EB-5 visa?

Even after being laid off, H1B visa holders still have the time to make an EB-5 visa application. The new EB5 visa program allows individuals to invest $200,000 initially, submit their application, and then continue to invest until they've reached the required $800,000 within a year. This means they can secure their place in line while they gather the remainder of their funds from sources such as stock or real estate investments.

Should they be worried about the waitlist?

Although there may be a waitlist in the future, experts predict this won't happen until next year, so it's crucial to act quickly to ensure a smooth application process. By submitting an application immediately, individuals can benefit from the current lack of waitlist and avoid potential delays in the future, Mastroianni asserts.

USIF also noted, demand for EB-5 visas for Indian Investors rose 400% between 2016 and 2019. The program then lapsed, throughout Covid, and now that the program is back, the program is still on a sharp rise. In 2019, there were 756 EB-5 applications filed by Indians. In 2022, there were 1,381 applications filed by Indian Investors reflecting the growing interest in the program following the loosening of Covid-19 travel restrictions.

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Sanchari Ghosh

Sanchari Ghosh is a Chief Content Producer with LiveMint. She covers news, human interest, epidemiology and personal finance stories
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