US' EB5 visa scheme extended till December 22
According to sources Anuj Patel, MD at LD Capital Bridge, a US-based commercial lending firm said US EB5 Visa scheme was introduced by the US Congress in 1990, the EB5 visa programme allows an individual to invest $500,000 in either of two Targeted Employment Areas (TEAs) a high unemployment area in a US metropolis or a rural area outside of a metro or $1 million in a non-TEA area that can create 10 or more jobs and get US citizenship in a shorter time than H1-B visa holders.
Meanwhile the EB-5 program gained popularity as
the laws for H1-B got tougher and uncertain this year. Currently, more and more
Indians graduating from U.S. universities are opting for the EB-5 visa which
grants them the green card in the shortest span.
Further Patel said "At present
India stands in the sixth position for EB-5 and with more awareness spreading
about the various programs, EB-5 applications from India shall rise”. However,
the US Congress in September extended the scheme by three months. This is the
second extension this year.