Study Abroad: How the EB-5 visa has saved those with H1-B visas?

There is a lot of pressure on Indian techies to be deported due to the ongoing mass layoffs at internet firms. According to numerous studies, EB-5 visas can be beneficial to these immigrants and may even enable them to extend their stay in the US.

An EB-5 visa is exactly what?

According to the US Immigration Act of 1990, the EB-5 visa enables qualified foreign nationals to settle legally in the US by investing a sizeable sum of money in a company that will hire at least ten American citizens.

The EB-5 Reform and Integrity Act of 2022 stipulates that foreign nationals must invest a minimum of $1,050,000 in the nation to be eligible for an EB-5 visa.

In addition, if the investment is made in a suitable infrastructure project or a targeted employment region, the required investment can be lowered to $800,000. (TEA). A rural area or an area with a high unemployment rate is referred to be TEAs.

What precisely is the issue with H1-B visa holders?

An employer in the US sponsors an H1-B visa, also referred to as a work visa. They must find a new company to fund their H1-B visa within 60 days if their work is terminated, failing which they risk being deported.

The recent layoffs have also increased the possibility of deportation for immigrants from India because some Indian workers in Silicon Valley were on H1-B visas. According to a study by the US Department of Homeland Security, Indian nationals were authorised for 74.1% of H-1B visas during the fiscal year 2021 as opposed to 74.9% during the previous year.

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