Indians are rushing to get the green card before the US hikes the investment cap of the EB-5 visa.Indians want to live their great American dream and are willing to shell out half-a-million dollars to get the EB-5 visa, which is an investor visa program giving opportunity to foreign nationals and their immediate family to obtain US green cards and permanent residency in mainly two ways.
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"We have signed up 210 investors in a very short time and 42 are Indians. For EB-5, we have witnessed interest from top executives at companies including Bain, Reliance, Aditya Birla and McKinsey apart from business families. These guys do not want their kids to face uncertainty while looking for jobs in the US," Rogelio Caceres, co-founder & CMO of LCR Capital Partners, told ET.
He said while approvals of US visas through other routes have been stagnant over the years, the number of approvals for Indians through the EB-5 route is growing by around 30% year-on-year.
There is a sudden spurt in the visa program as the United States Citizenship and Immigration Services (USCIS) proposed significant changes to the EB-5 Investor visa program that includes raising the minimum investment amount from $500,000 to $1.35 million.