The United States Department of State recently released data that indicates significant progress in the processing of EB-5 applications that are currently pending, especially those from Indian citizens.
About EB-5 Immigrant Investor Program
- The EB-5 (employment-based, 5th preference), or US golden visa, provides a special road for overseas investors and their families to seek permanent residency and Green Cards in the United States.
- It is administered by the United States Citizenship and Immigration Services (USCIS).
- It was created in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors.
- Under this program, investors (and their spouses and unmarried children under 21) are eligible to apply for lawful permanent residence (become a Green Card holder) if they:
- Make the necessary investment in a commercial enterprise in the United States, and
- Plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.
- A new commercial enterprise means any for-profit activity formed for the ongoing conduct of lawful business, including:
- A sole proprietorship;
- Partnership (whether limited or general);
- Holding company and its wholly owned subsidiaries (provided that each subsidiary is engaged in a for-profit activity formed for the ongoing conduct of a lawful business);
- Joint venture;
- Business trust;
- Limited liability company; or
- Other entity, which may be publicly or privately owned.
- This definition does not include noncommercial activity, such as owning and operating a personal residence.
Q1) What is an H1B Visa?
It is a multiple entry non-immigrant visa which allows foreign workers employed by US companies to work in the United States. The workers under H1B visas should be engaged in specialized occupations such as science, medicine, engineering and mathematics. H1B applicants must have at least a US bachelor's degree or equivalent. Generally this visa is granted for a period of three years and can be extended for an additional three years for special circumstances.