Unless one has been living under a rock, it is simply not possible to ignore the growing tribe of Indian-origin CXOs in US companies. Many of these successful leaders spent their growing up years in India, later moving to the US possibly in search of better educational and/or career opportunities.
According to the OECD Better Life Index, the US outperforms the global average in income, jobs, education, environmental quality, social relationships and life satisfaction. The country has been among the top for international migrants since 1970 (2022 International Migration Highlights, United Nations). According to the Migration Policy Institute, India was the top country of origin for immigrants to the US in 2022, surpassing China and Mexico.
According to the latest Open Doors report, 200,000 Indian students chose the US for their higher education in 2021-22, moving to the US on student visas. But what happens after the student visa expires? How does one live there and build a future? What are the visa options?
The H1-B temporary employment visa is most common among Indians. It accounts for more than half of the visas issued to Indians wishing to stay in the US for more than six months.
However, the H1-B visa process has become extremely challenging. For starters, the number of visas in this category is limited and the allocation is done by lottery. Out of an incredibly large pool of highly qualified applicants, only about 30% get their visas approved. Visa also imposes restrictions on employees and does not make it easy to change roles and jobs. It also needs to be renewed from time to time, and the decision of extension lies in the hands of the employer. Recent layoffs at large US corporates upset many H-1B visa holders, who had only 60 days to find new jobs to maintain their visa status.
The H1-B visa can be converted into a US Green Card, the much coveted permanent residency that removes all uncertainty related to one’s living and working status in the US. However, the amount of time it takes to make this transition depends on the country you were born in and the type of employment visa you are on.
US employment-based visa categories have clear eligibility requirements. Here is a brief summary of the five categories, according to the US Citizenship and Immigration Services (USCIS) website:
EB-1: For non-citizens of exceptional ability, outstanding professors or researchers, and certain multinational executives and managers, according to specific criteria at the attached USCIS link. For the last group, a petitioning employer may or may not be required. This category is harder to qualify for, but has a shorter waiting time than other categories
EB-2: According to USCIS, an advanced degree or its equivalent, or for professionals with exceptional ability.
EB-3: With labor certification and permanent, full-time job offers for some skilled workers and professionals.
EB-4: Special immigrants such as religious workers, special immigrant juveniles, certain retired officials, certain US government employees who are overseas, and their family members.
EB-5: For non-citizens who have invested or are actively investing $1,050,000 (or $800,000 in targeted employment sectors, rural or infra projects) in a new commercial venture that will benefit the US economy and create at least 10 full-time jobs Will create jobs.
Indians rank high in the number of applicants under all five EB visa categories. The EB-2 and EB-3 categories are commonly applied for by Indians in the US and have long wait times. EB-1 has seen an increase in visas issued to Indian citizens in 2020 and 2021, with each year increasing by more than 50%.
India ranks first in EB-1, EB-2 and EB-3 visas in 2021, fifth for EB-4 visas and third for EB-5 visas, although India has since has come in first place. Application in 2022.
The EB-5 visa is the only category that does not depend on previous work experience or professional qualifications and can (currently) award a green card within 24-36 months of application. In addition, those already living in the US on the H1-B can apply for EB-5 as well as apply for a work permit based on the EB-5. This work permit is currently coming within a few months. This completely eliminates the uncertainty surrounding H1-B status and allows for early access to one of the most important benefits of a green card – the right to work anywhere in the US and in any role, without Connect with an employer.
(Although the above may serve as general guidelines, applicants should always consult with a qualified US immigration attorney who can advise them based on their specific circumstances.)
Shilpa Menon is Senior Director – India at LCR Capital Partners
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