Rich Indians Look At $500,000 Golden Visas, As H1B Tightens
Washington (D.C.): As the US tightens the rules on the H1B visa program and as uncertainty glooms over the reforms the Trump administration is planning to bring on the H1B visa program, Indians are exploring alternatives to achieve their American dreams.
Some Indian IT outsourcing companies have already announced their plans to hire more Americans going forward to reduce the dependency on the H1B program. Infosys has announced that the company would hire 10,000 Americans, with a goal of adding 2,000 employees by 2021. After Infosys, Cognizant came forward with its plan to create US jobs.
Indian IT companies are the gateways for many Indians to reach their American goals. With these companies beginning to close doors as a response to Trump’s immigration policy, Indians are now forced to look for alternatives.
While Indian middle class has not many options, but to depend on H1B visa or F1 visa, rich Indians look at the “Golden Visa,” a $500,000 US visa or EB5 Investment visa as an expensive alternative to H1B visa to achieve their American dream.
The visa, introduced in 1990 to create jobs and stimulate economy by foreign investment, is now showing a way to the wealthy community. The visa requires foreign nationals to invest in a qualified project in the US that creates 10 or more American jobs. The investors can then become eligible to apply for a Permanent Resident Card or Green Card.
While China currently secures 85 percent of the 10,000 EB5 visas awarded every year, more and more Indians are now turning toward it.
As per reports, on average, three Indians per week are using “Golden Visa” to invest their money into US projects and become eligible for Green Cards.