Can Am Investor Services, a subsidiary of Can Am Enterprise LLC, is all set to open up operations in Mumbai, India’s financial capital. Can Am specializes in the EB-5 visa services, helping entrepreneurs and investors obtain visas to enter the United States. Through this programme, the firm seeks to raise nearly $100 million, a 500% jump over the $20 million it raised in 2014. This massive leap can be attributed to some of the changes brought in by the Trump administration, most notably their crackdown on H1-B visas. Now that the H1-B visas have some restrictions like the minimum wage to be paid to H1-B visa holders, and the total number of H1-B visas to be handed out every year, EB-5 visas are being viewed as a new way to enter the country.
With the decrease in the number of H1-B visas, employers and individuals (entrepreneurs) are more likely to spend more to enter the States. More specifically, richer families will look towards using this investor visa to send their children abroad. Using the EB-5 visa services offered by Can Am, rich investors will be able to obtain their Green Card to attain Permanent Residency, both for themselves and their immediate family. But to do this they will be required to invest $500,000 into a US company, which can create at least 10 jobs for Americans. This process is beneficial to both the investors and Americans as it helps both sides by providing them with what they want. With the newly obtained Green Card, the individuals may then proceed to file for naturalization and obtain citizenship status in the United States.
Can Am notes that there is a demand of nearly 200 EB-5 visa applications to enter the Univted States, as opposed to the mere 30 or so during the years from 2007 to 2014. Contrary to popular belief, these 200 have a high percentage of applicants in the 25-35 year old range. Apart from this there are also a large number of applications from richer families looking to send their children abroad for better lives. Unfortunately, for many future investors, the CEO of Can Am Investor Services, Jeff DeCicco noted that the one-time fee of $500,000 may be hiked to $800,000 by next year. So, the popular word among investors now is to apply earlier rather than later.