India: Demand for EB-5 immigrant visa increases

After President Donald Trump vowed to crack down on immigration, EB-5 has been extremely popular among rich Indians who are eager to get their families for prosperity in USA. A Trump administration official has accused top Indian companies of unfairly cornering the lion’s share of H-1B visas last month and wth the H-1B laws are undergoining various transfomrations from various pending bills, India’s IT companies are hiring local. So rich technical professionals are looking at atlernate option of coming to USA – EB 5 Visa popularly known as the Golden Visa. It was first introduced as part of the 1990 Immigration Act which allows foreigners to invest between $500,000 and above in qualified projects in the U.S., which will qualify them to apply for permanent resident status for themselves and their families. The invested sum is utilized for qualified govenment approved projects and will be vested for future. The is a double whammy for EB-5 aspirants.
Despite strong demand, President Donald Trump’s administration has batted for stricter qualitification rules for EB-5 and almost eliminate the category altogether, as critics argued that it has been plagued by widespread fraud and political corruption, money laundering, investment fraud and terrorist funding.