Demand for EB 5 Visa on the rise
Tapping in on the aspirations of high net worth individuals HNIs for their appetite for global footprint, the US government is giving EB 5 Visa, which is more transparent and assures migration with a quicker eligibility for acquiring the Green Card within two years provided they should meet visa conditions, said G Sambasiva Rao, President of AP Chambers of Commerce and Industry Federation
Visakhapatnam: Tapping in on the aspirations of high net worth individuals (HNIs) for their appetite for global footprint, the US government is giving EB 5 Visa, which is more transparent and assures migration with a quicker eligibility for acquiring the Green Card within two years provided they should meet visa conditions, said G Sambasiva Rao, President of AP Chambers of Commerce and Industry Federation.
Delivering the keynote address at the session on EB 5 Investor Visa on Friday, he said that it is crucial for individuals to do proper documentation, select the right partner and right project that would generate needed employment and give them return on investment. Increasing awareness of EB 5 Visa also leading to the spurt in visa applications from India touched 1500 at the end of 2017 and it would be doubled in the current financial year going by the reflective trends towards investment cycle by the HNIs and entrepreneurs from India, Sambasiva Rao said.
Subba Raju Pericherla, Founder and CEO of Cross Borders, informed the gathering that a lot of Indians are experiencing increasing retrogression in their visa priority date. It means that they have to wait for 10 to 15 years for their Green Cards under normal sponsored visa categories. But the strict visa rules have made it even more difficult for Indian workforce to get non-immigrant employment visas. A minuscule per cent of the Indian people are aware that they can explore American government mandated EB-5 The Immigrant Investor Programme, he explained.
The amount of investment for the EB5 Investor Visa is within the reach and limit for the entrepreneurs going by reflecting trends for getting permanent residency through Green Card with EB5 Investor Visa. Out of the total number of applications filed from India till 2018, 25 per cent were in the ‘direct’ EB-5 project said, M Sudhir, Vice-Chairman, AP Chambers, Visakhaptnam zone. Pydah Krishna Prasad, Chairman, AP Chambers and K Kumar Raja, Vice-President, AP Chambers also spoke.
