EB5 Visa Program may end on April 28th

Posted on: 18 Apr 2017  |   Tags: ,

EB5 Rumor is in the air that US President Mr. Trump may put further restrictions on the working visa of H1B and also L1B. L1A involves transfer of senior executives and managers of the company and L1B is in case of workers who have a specialized knowledge on the field. Officials in the US administration are saying that Trump is also putting restrictions on EB5 Immigrant Investor Visa Program. Chances are there that the said visa may also get cancelled in the near future. Indians with a fat purse are applying for this visa in huge numbers in order to get  the Green Card in USA before any changes are brought into effect. This visa program helps the High Net Worth (HNI) to get a Green Card for themselves and also Permanent Residency Status for their immediate family members. To get this visa, Indian nationals are required to invest $500,000 in a US company so that it generates at least 10 jobs in the US market. According to the latest statistics, thousands of EB5 visas are getting filed in the current year of 2017. The list shows that Indians constitute 4th largest beneficiary of the EB5 visa program in the current year. With Trump closing different avenues for getting Green card, Indians are trying to obtain this route to obtain Green Card and permanent residency status. This is the main reason for which the numbers of EB5 filings have increased so much this year. Moreover, in an unofficial attempt to stop the entry of Indians, Trump administration have also put a ban of the Indians under E1 Treaty Trader or E2 Treaty Investor Scheme. Hence Indians are vying for the EB5 route, in spite of the fact that it is very expensive. Mr. Trump is also planning to double the minimum salary requirement to $130,000 to restrict the entry of Indians through H1B visa programs. If this is implemented into law, it will almost become impossible for Indian students to get a job there. Regarding cancellation of the EB5 visa program, experts are of the opinion that he may not entirely cancel the Visa program as that is directly related to some form of investment. He may increase the investment cap to $1,300,000 which now stands at $500,000. Even this visa is also under extension till April 28th and whether it gets extension, can only be seen in the weeks to come at the end of this month.

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