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U.S. EB-5 applications
Why is it in news?
- The United States has decided to effect a steep increase in the application fee for its Immigrant Investor Visa Programme, EB-5.
More in news
- Proposed changes: The date of the new fee implementation and details of the final regulation will be known in the next 60 days through a publication in the Federal Register.
- EB-5:(1) As of now, EB-5 could probably be the quickest legal route available for immigrants to get Green Card and permanent residency in the U.S.(2) Large numbers of Indians are motivated to apply for EB-5 in order to improve their children’s education and employment prospects.(3) Since a whole family could receive green cards from just a single application, the arithmetic of an EB-5 investment might still make sense in the event of a fee hike.
- India has a large number of families and entrepreneurs who are keen to take this route, especially when H-1B visa is under stringent scrutiny.
Source
The Hindu