Visa applicants from India who are interested in the EB-5 visa have used up all 700 visa slots offered by the government of the US for the 2018 fiscal year. For this reason, it could be said that Indians have reached retrogression for this visa.
On the other hand, the H-1B visa, as well as the H4, has been subjected to stricter scrutiny.
A visa could go into retrogression when its availability does not match up or is way below its demand.
Information in the July 2019 US Visa Bulletin tell that India comes third in the ranking of countries that reached the limit for the visa slot. This is after mainland China and Vietnam.
According to the Chief Commercial Officer who doubles as the Co-Founder of LCR Capital Partners in the US, Rogelio Caseres, this is the first time India would be hitting the limit for the EB-5 visa. The majority of the applicants came from the Indian cities of Mumbai, Bengaluru, and Hyderabad. It is obvious that Indians value the American green card as there are many of them in the US who are doing well in various professions such as medicine, engineering, technology, and business, etc.
The EB-5 visa is for investors who are willing to invest nothing less than $500,000 and an additional processing fee of $75,000 before they can migrate to America.
The money is pumped into construction, real estate, and so many other sectors to create employment opportunities in the US. The investor is refunded after a fixed period of time.
Vivek Tandon, who is the Founder and CEO of a consultancy firm visa for the EB-5 visa known as EB-5 BRICS, said that Indians have always had to wait for longer to get their EB-5 visas. Due to the retrogression and backlog, some of them may have to wait for 4 to 5 years.
The US issues 10,000 of these visas yearly with a 700 cap for each country.
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