The investment limits for an EB-5 visa (also known as the cash for green card visa) were significantly increased some months ago. As per the reports, the US district court has rejected a preliminary injunction plea lodged by a Florida based regional centre, that had sought a stay from the implementation of the revised norms. As of now, the investors seeking a quick route for a green card will have to continue to invest $1.8 million (as opposed to $ 1 million earlier) or $900,000 (as opposed to half a million earlier) if the investments are being made in a rural area or area of high unemployment, as per reports.
Beginning April 1, 2020, Indian EB-5 investors will have to pay an additional $50,000 for their EB-5 US investor visa due to a 5% additional tax on remittances when they choose to move funds to an escrow account in the US.https://t.co/YgZQdUgJCQ pic.twitter.com/RkwLM3Qxqy— U.S. Regional Center Group (@USRCGroup) March 10, 2020
According to the reports, earlier the EB-5 visa was much popular among rich Indians, which includes those in the US on an H-1B visa. According to the official statistics, at least 760 Indians were alloted the EB-5 visa during fiscal 2019 and more than 850 were in the queue waiting for the visa.
Nearly three out of every four H1B visa holders as of October 5, 2018, are Indian citizens, an official US report has said. According to the US Citizenship and Immigration Services (USCIS), there were as many as 419,637 foreign nationals working in the US on H-1B visas as on October 5. Of these, 309,986 are Indians, the USCIS said in its report 'H-1B petitions by gender and country of the birth fiscal year 2018'. The report reveals a massive gender disparity: only one out of every four H-1B visa holders is female. Of the 419,637 H-1B visa holders, 106,096 (or 25.3 per cent) are females as against 311,997 (or 74.3 per cent males), it said.
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(Pic Credit: Twitter)