There is a spectacular downfall in approving H1B visa under the present Trump administration. The wealthy and those who can afford are quickly shifting towards, submitting an application for EB-5 visas, to obtain Permanent Residency, or the Green Card in the US. Also, as per the US State Department, The number of Indians who get and apply for EB-5 visas has shot up four-fold since 2017.
This US EB-5 Immigrant Visa is issued as per the provisions of the Immigration Act of 1990. It assures a Green Card to immigrants when they invest $500,000 in a commercial business that has government approval and also creates ten US jobs.
The major reason for a majority of Indians applying for this category of visa is that applicants can acquire the green card within 18-24 months. Additionally, for the H1B visa holders, there is a painful wait of 5 years to get the green card. Also, presently, the US government has a set of strict rules to issue H1B visa.
Persons holding the H1B or any non-immigrant visa cannot have access to some perks that exist for the green card holder. It also provides permanent residency to the immigrants added many benefits from the government, apart from health and education. Persons on a non-immigrant visa cannot start a business but there are no such limitations on the green card holders.
The fact is that the EB-5 visa has an annual quota of 10,000 visas only that starts on October 1. One single country can get only 700 visas. India achieved its quota for the first time, this month.
There is an increasing demand for EB-5 visa since 2017-18. From that year there was an exceptional jump touching four-folds among Indians who got the approval in EB-5 visas. 40% of Indians today migrate from H1B visas to EB-5 visas. The success ratio among the EB-5 applicants was 236% between 2017 and 2018. Also, for the period ending in September 2018, Indians received 585 EB-5 Visas. The figures were 174 in 2017.
This sudden increase by Indians holding H1B visa towards EB-5 visa will create a challenge in the present Fiscal Year.
Soon, there will be a huge rush for it. Another point to note is that Indians can also migrate to other countries that have an easy entry and several opportunities to have an affluent lifestyle.