Monday August 20, 2018
Home India In uncertain ...

In uncertain H1-B Visa Programme, US firm targets Indians with EB5 – the ‘Golden Visa’

0
//
115
Visa application, (representational Image) Wikimedia
Republish
Reprint

New Delhi, May 11, 2017: As confusion looms over the future of the H1-B visa programme, an investment-facilitating firm is targeting rich Indians with the EB5 visa, popularly known as the “Golden Visa”, that promises a faster route to US citizenshipThe US Immigration Fund (USIF), which launched its Indian operations this year, is confident that affluent Indians who invest half a million dollars or more in a Targeted Employment Area (TEA) — creating 10 or more jobs — under the EB5 visa programme, will get US citizenship in a shorter time compared to the H1-B visa programme.

NewsGram brings to you latest new stories in India.

US President Donald Trump has called for stricter norms for issuance of H1-B visas, largely availed of by Indian IT firms. A private member’s bill was also introduced earlier this year in the US Congress by Democrat Zoe Lofgren which seeks to increase the minimum salary of an H1-B visa holder to a whopping $130,000 from the current minimum of $60,000.

“With the H1-B environment becoming tougher and tougher, demand for EB5 has gone up,” Andrew Graves, USIF’s Director of Business Development in India, told IANS.

“Indians are becoming more aware of the EB5 visa programme,” he said.

Introduced by then US President Bill Clinton in 1990, the EB5 visa programme allows an individual to invest $500,000 in either of two TEAs — a high unemployment area in a US metropolis or a rural area outside of a metro — or $1 million in a non-TEA area that can create 10 or more jobs.

Go to NewsGram and check out news related to political current issues.

Earlier this month, the US Congress extended the programme, which has seen much controversy over the merits of its applicants, till September 30 this year.

Graves explained that once an application is filed for an EB5 visa programme, the applicant has to fill in a I526 form under a US attorney after which he or she gets a temporary US Green Card for 16 months.

Once the conditions are met, around two years later, the applicant has to fill in the I829 form which leads to lawful permanent residency in the US.

“So, the EB5 offers a certain way for US citizenship within roughly five years,” Graves said.

The USIF clams to have a proven track record of 100 per cent approval rating from the US Citizenship and Immigration Services (USCIS) on all adjudicated projects.

Look for latest news from India in NewsGram.

It has 24 projects in the real estate sector to its credit with $3.2 billion in EB5 capital that includes 6,400 investors.

China is the largest beneficiary of the EB5 visa programme, accounting for 75.6 per cent or over 7,500 visas.

India is sixth in the list with 149 visas after Vietnam (334), South Korea (260), Taiwan (205) and Brazil (130).

But Graves feels that Indians can make it to the second spot after China.

“We are 100 per cent sure that India will occupy a strong second place after China,” he said.

Given the uncertainty over the H1-B visa programme, more and more Indians graduating from US universities are opting for the EB5 visa for US citizenship.

The advantage: If an H1-B visa holder is fired from his or her job, he or she will have to leave the US along with family whereas once permanent residency is attained, he or she is no longer dependent on others for staying in the US as long as the person is law-abiding and renews the Green Card on time.

But how can a fresh Indian graduate in the US afford to invest a minimum of $500,000 to apply for an EB5 visa?

“It usually comes as a gift from the family (to ensure the son or daughter’s future),” Graves said, indicating that only the more affluent Indians can afford the “Golden Visa”. – (IANS)

Click here for reuse options!
Copyright 2017 NewsGram

Next Story

New AI Model to Identify the Risk of Heart Disease in Indians

Besides Apollo, Microsoft is also planning to extend the AI model to other healthcare providers

0
heart disease
Novel Microsoft-Apollo AI model to predict heart disease risk for Indians. Pixabay

In a novel effort to predict the risk of cardiovascular disease (CVD) among the Indian population, Microsoft India and Apollo Hospitals on Friday launched the first-ever Artificial Intelligence (AI)-powered heart disease risk score API (application programme interface).

Part of Microsoft’s “AI Network for Healthcare” initiative, it will help doctors across the Apollo network of hospitals leverage the AI-powered API to predict risk of CVD and drive preventive cardiac care across the country.

Nearly three million heart attacks happen in India every year and 30 million Indians suffer from coronary diseases. However, even with various heart disease risk models available worldwide, doctors and cardiologists are unable to identify the probability of CVD in Indians.

“The AI-based models available worldwide were formed decades ago and are based on the western population. Our new API score is based on the data of 4,000 Indians shared by Apollo Hospitals and can easily identify the level of risk each patient has,” Anil Bhansali, Managing Director, Microsoft India (R&D), told IANS.

“We come in as a technology partner or expert in the AI domain, where we collaborate with healthcare providers and doctors to integrate data to help build the AI model,” Bhansali added.

Built on Microsoft’s Cloud computing platform Azure, the new AI-based heart risk score helps gauge a patient’s risk for heart disease and provides rich insights to doctors on treatment plans and early diagnosis.

The API score considers 21 risk factors including lifestyle attributes such as diet, tobacco and smoking preferences and physical activity as well as psychological stress and anxiety as reflected via rate of respiration, hypertension and systolic and diastolic blood pressure.

“The score categorises risk into high, moderate and minimal and also provides insights on the top modifiable risk contributors, thereby assisting physicians to consult patients in a more holistic way, while providing insights to patients for lifestyle modification and timely interventions,” Bhansali elaborated.

heart disease
Representational image. (IANS)

When a patient goes for a cardio health check, the doctor can build up a more accurate cardio-vascular health profile of the patient based on Machine Learning (ML) of all their previous patient data.

AI can, in turn, predict future coronary ailments the patient might experience in the next 10 to 20 years based on these multiple factors.

“This heart risk score for Indian populace is a true example of how precision healthcare can accelerate prevention of cardio-vascular disease and reduce disease burden,” Bhansali noted.

According to Sangita Reddy, Joint Managing Director, Apollo Hospitals, the partnership is aimed at designing new tools and equip doctors in the fight against non-communicable diseases.

You May also Like to Read About the Latest News Regarding WhatsApp Backups- WhatsApp Backups Won’t be Taking Your Space on Google Drive Anymore

“The amalgamation of AI and ML with the global expertise of our doctors will help prevent heart disease, save lives and ensure those with heart disease can make informed choices on their health,” Reddy said in a statement.

Besides Apollo, Microsoft is also planning to extend the AI model to other healthcare providers.

“While we are currently working with Apollo, we are also in the process of identifying partners where we can actually try this API score,” Bhansali told IANS.

“In the last couple of years we have been working on how Cloud technology, particularly AI, can help in reducing the overall disease burden. Our first step towards this, as part of the healthcare partnership, is developing the cardiac risk score for Indian population,” Bhansali added. (IANS)