The program known as EB-5 visa which was created in the earlier 90’s during the period of George W Bush.
The USCIS has said that the EB-5 Program offers PR status to those individuals who invest a minimum of $1,00,000 in the latest project that would create a minimum of ten full time period jobs in the US in two years of time.
The department also said that a overseas citizen requires to invest just $5,00,000 if the project is in the targeted job area that includes few rural areas and unemployment areas. But critics have been blaming that large amount of investments only takes place in rich cities like New York, Washington and Dallas.
The USCIS has revealed that there were around 17,691 applications received for EB-5 visa last year and in the year 2013 it has got around 6554 applications.
As per the experts the reason for sharp hike previous year is that the rich individuals were worried that the program would be revoked. But last year December month it was again extended for the period of 10 months.
As per estimations around $8.7 billion has already been invested in the economy of the US through this program since 1st October 2012. it has been predicted that around 35,150 jobs has already been created in the US through overseas investment through this EB-5 program.
The investors are offered two or three visas to the applicant and utilize them to provide PR status for their family members. Before this program, many people had to wait for much time prior they can legally enter and reside in the US.
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