THE ECONOMIC TIMES: 1,200 Indians queue up to shell out half-a-million dollars for US green card

MUMBAI: About 1,200 Indians have queued up to shell out half-a-million US dollars each to migrate to the US through a government sponsored ‘invest in the US and get a green card scheme’, according to immigration consultants. The scramble follows a US government plan to increase the investment such applicants need to make to get an EB-5 visa — from $5,00,000 to $8,00,000 from October 1.

The US Citizenship & Immigration Services (USCIS) approved 111 EB-5 visas for Indian applicants between October 1, 2014 and September 30, 2015 (FY15). The US financial year is from October 1to September 30.

The EB-5 Immigrant Investor Program is a “paid invitation” for non-Americans to invest and live the ‘American dream’. While America still keeps its doors ajar for highskilled migrants (through student and job visas), Uncle Sam is now looking for well-heeled foreigners who can invest in his country

The EB-5 Immigrant Investor Program is a “paid invitation” for non-Americans to invest and live the ‘American dream’. While America still keeps its doors ajar for highskilled migrants (through student and job visas), Uncle Sam is now looking for well-heeled foreigners who can invest in his country.

The EB-5 Immigrant Investor Program is a “paid invitation” for non-Americans to invest and live the ‘American dream’. While America still keeps its doors ajar for highskilled migrants (through student and job visas), Uncle Sam is now looking for well-heeled foreigners who can invest in his country.

“The EB-5 program is exploding in popularity as more countries outside of China are taking advantage of it. Last year, over 18,000 investors from all over the world invested in the EB-5 program,” says Rogelio Caceres, co-founder of LCR Capital Partners, an investmentcum-immigration consultant.

Applications from India, however, are insignificant compared with Chinese applicants, who managed to secure over 8,150 visa approvals in FY15. “Indians may go the China-way very soon… we’re  ..

Source:The Economic Times

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