The US immigrant EB-5 visas, is for small business that creates employment in the US has seen a light of interest in India with the applications under this quota rising by 25%.
According to the information from the US State Department, for the initial 70 days of this year, around 130 EB-5 visas has been issued by the government of US to Indian businesses, when compared to just 111 visas issued in the entire last year.
Last year, Chinese immigrants have been issued around 8,165 EB-5 visas and around 111 visas were issued to the Indian businessmen. China leads the table with 83.5% of the market share, businessmen from Vietnam had bagged around 280 visas while India stood at fifth position with 1.1% market share.
EB-5 program was started to get funds in the US economy. The least requirement of this visa is to invest around $1 million in the US enterprises and create minimum ten jobs for the local citizens.
While EB-5 giving its holder the status of permanent residency in the US, it also comes with the clause that one should require investing around $1 million in an enterprise of the US. Many high net worth individuals in India are looking at this EB-5 visa. There has been a slow increase in applications. In the year 2011, 37 visas were granted to Indians, 38 in the year 2012 and 96 in the year 2014.
