EB 5 Visa – Indians on Waitlist this Year
The United States EB-5 visa provides a way to people to become lawful permanent residents of the US i.e. ‘the green card holders.’ The program involves investing at least $1,000,000 to finance a business in the United States so that at least 10 American get work through that business. At least 10000 EB visas are issued every year. The upper cap per country is 700.
This is the first time that Indian nationals crossed 700 mark in a year. Until 2018, the no. of visa issuances to Indians per year, was less or equal to 100 visas. This saw a significant increase in 2018 and the figure reached 400 visas.
However, this year the mark has already reached the upper threshold of 700, in June. The yearly cycle is from October to September. So, no visa will be issued in July to September this year, until the cycle resets in October again.
EB 5 Visa has grown quite popular in India, as it is the fastest route to a US Green Card.