Pune : - The High net-worth and Ultra High net-worth individuals (HNIs & UHNIs) from Pune are increasingly opting for the EB-5 visa to secure a stable future for their children who are pursuing or planning to pursue higher education in the USA. These families seek to bypass the restrictions and uncertainties associated with the H-1B visa, aiming instead for a faster path to permanent residency and citizenship, informed Piyush Gupta, Vice President of CanAm Enterprises, a U.S. government-licensed investment firm based in New York, specializes in EB-5 visa investments and processing.

Piyush Gupta further said that Initiated in 1990 by the U.S. government, the EB-5 visa program aims to stimulate the American economy through job creation and capital investment by foreign investors. This program allows qualified foreign investors to obtain U.S. citizenship by investing $800,000 (approximately 6.5 crore rupees) in projects located in Targeted Employment Areas within the USA. These investments must create at least ten permanent full-time jobs for U.S. workers. Piyush Gupta highlighted that by investing in American businesses, Indian nationals can secure U.S. citizenship.

Piyush Gupta also added that the USA issues only 700 EB-5 visas per country annually. The process of obtaining an EB-5 visa typically takes one to two years to complete. Besides interest from Mumbai and Pune, there has been a notable increase in inquiries from Tier II and Tier III cities in Maharashtra regarding EB-5 Visa.