The recent bills on H1B visa workers and the EB5 programme have sent jitters across the board, especially to those who have been waiting to live the great American dream.
People who want permanent residency in the US are worried as new legislations have been drafted for these two programmes.
Under the EB5 programme, foreign nationals can obtain green card by investing money in the US. Presently, to obtain the visa, individuals must invest $1,000,000 (or at least $500,000 in a Targeted Employment Area - high unemployment or rural area), creating or preserving at least 10 jobs for U.S. workers.
There are expectations the US President Donald Trump administration will increase the investments cap, by almost double.
Besides, Indian professionals are sweating it out over the H1B visa salary cap, which is also giving sleepless nights to the Indian IT sector.
But, Jose Latour, President & Managing Director, American Venture Solutions, says don’t follow the hype.
“The great American dream is not over. There are a lot of speculations and hype created and don’t fall into it. Wait till things go under the hammer,” Latour, who is also a former diplomatic and consular with over 25 years of investment based immigration experience.
As per Latour, if given a choice, EB5 programme is better than H1B.
“The EB5 programme has been here for a long time, but I feel it has gained steam in the last seven years. The momentum has become strong over the past seven years. The major advantage of the EB5 is it separates the usual complications of the migration to the US and investment. The EB 5 programme lets you separate your family’s future and brings in more stability about your kids’ schooling, your work, etc. It is an advantage,” he said.
EB5, especially for those in their 20s, is preferable as it gives you more control, unlike H1B as you have to rely on the company.
“Under the EB5 criteria, you can work with whosoever you want, you have much more negotiating power. If you chose the right EB5 plan, you are going to make an investment, your money is going to be tied up, and you are going to get it back. If you can afford it, EB5 programme is better than H1B,” he said.
The EB 5 programme is customised to suit every family’s needs. “Every family should look for options. Don’t wait as the investment cap is going to go up by double. Now is the time to do it. If family has the means, apply for EB5,” he said.
If you have decided to go for EB5 visa programme, don’t follow the herd and be very careful about choosing the right centre.
“Determine who is the partner and owner and operator of the regional centre through which you are applying. Reputation is quite important. There is no room to make mistakes in this. Secondly, be careful while investing in real estate projects in the US as they are not into targeted employment. Choose a project very carefully. The developers are fine but they can wind up any time. Also, check for centres for they have bankruptcy records. Select a centre which has best results. You can control your future,” he said.