World’s major provider of EB-5 visa programme, CanAm Investor Services, is all ready to start business in India, according to the report published in The Economic Times, considering the fact that Indians have become the major applicants for the visa to get permanent residency in the United States.
According to the reports, the firm is all set to get $100 million from various Indian investors applying for the EB-5 visas in 2017, which is around five times more than $20 million, which is received in 2014.
EB-5 visas are for the major investors to get the Green Card or the permanent citizenship in the US and invests around $5,00,000 in the new US business, which creates 10 or more jobs for the Americans.
Recently, in Mumbai, CanAm Investor Services CEO Jeff DeCicco had also confirmed that the company is in process to set up business in India. He also said that the offices will most likely be in Delhi and Mumbai.
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He also asserted that the recent curbs announced by the Trump Administration on the H1B visas has affected the plans of various Indian who wanted to settle down in the US.
Around 200 applications the company is currently receiving from majority of the young people of 25-35 years of age to long term invest in the US along with various upper class parents, who want their children to settle down in the US.
DeCicco also noted that the US government can also increase the investment cap for the EB-5 visa from $5,00,000 to around $8,00,000.
(Cover image source: Law and border)
