Lightnet Group, Velo Labs and Visa to launch Payment Solutions in Asia
Velo Labs Technology Ltd. (Velo Labs) recently announced that it is in collaboration with Lightnet Pte. Ltd. (Lightnet Group) and Visa Worldwide Pte. Limited (Visa) and they will develop payment solutions in Asia. The Memorandum of Understanding (MoU) in now effect between the companies, and Velo Labs, Lightnet Group and Visa are collaborating on payment solutions which will be aimed at addressing the under-served micro, small and medium enterprise (MSME) market in Asia.
The Former President Of Somalia Was Denied U.S. Visa
H.E. Hassan Sheikh Mohamud, Somalia’s former president has allegedly been denied a U.S. visa. He was supposed to give an interesting lecture on March 27 about “Crossroads of Somalia: Opportunities & Challenges post-civil war.” The lecture was organized by WCM (World Council Affairs of Maine).
H. E. Hassan was the head of the Somalia state for 5 years (2012 – 2017). Despite such an honorable post, he has become a victim of Donald Trump’s travel ban, which came into effect last year. Somalia is also one of 3 African countries whose residents are banned to visit the United States.
Considering this, WCM issued a statement on their social page that they regret H.E. Hassan has not been given a visa to enter the U.S. because of the Executive Order 13769, which states the nation’s protection from foreign terrorists.
More Indians Choose US EB-5 Visa Route With Guaranteed Immigration, Green Card
A huge number of Indians are lining up to finance in the U.S. businesses via EB-5 Visa, as this ensures migration and a faster eligibility to acquire the Green Card. For the past 4 years, the number of corporate executives, businessmen, and higher net worth individuals preferring the EB-5 Investor Visa have tripled.
David Gunderson, a prominent Managing Director and expert of the United States Freedom Capital stated that although the figures of 2017 are awaited, the recent popularity of EB5, otherwise called the "golden visa" has cleared that more HNIs (High Net worth Individuals) from India are interested in the international footprint.
Under the EB-5 Visa, an Indian should invest Rs.3.2 crore ($500,000) for self, unmarried children, and spouse. However, the recent reports from the Donald’s Administration claim that there are plans to increase this sum to Rs.5.9 crore ($920,000) for an Indian applicant in the usual category.
Gunderson said further that there are no minimum income or education requirements but the person has to show evidence that the total investment is earned legitimately from a profession, business, gift, inheritance, or loan. Once the EB-5 is acquired, an applicant has the freedom to reside and work within the United States.
Under the EB-5 Visa, India is reported to rank third in terms of applications. Among several investment schemes, the United States Freedom Capital presented the “Green Card + EB-5 Fixed Deposit” option for $1 million to offer a return of 8% rather than the usual standard of 0.5% for a five-year period.
The target is to provide a higher return than a regular Indian FD (Fixed Deposit), as this will let the investors acquire Green Cards much faster for self, unmarried children, and spouse with a striking return.
He says that the 8% return is not assured because they follow the SEC (Securities and Exchange Commission) guidelines. However, with a sensibly organized risk mitigation and a team of experts altering the plan of conventional investments, the U.S. Freedom Capital usually offers high yield returns.
Even though the 8% return is not certain, the risk involved with the Green Card+FD investment is lower when compared to any other EB-5 visa investment made via the property sector.
India and US to boost bilateral relationship
The year of 2017 has been eventful for both India and US. Prime Minister Narendra Modi and President Donald Trump’s meetings have resulted in an improved collaboration of both the nations. The involvement of India and US in solving many political issues and developing security strategy will boost the bilateral relationship of both the nations in the coming year.
Now Indians can opt for a fast-track US immigration clearance
India has become one of the 11th countries to sign a MoU with the USA to provide a faster immigration clearance service through the US Global Entry Programme. This program allows the Indian travelers to avoid the hassle of going through the long process of immigration check and the US airports. Instead, travelers can now take advantage of this service by choosing the mandatory prerequisite of a background verification. Once they are verified under the US Global Entry Programme, they can approach the kiosk-based customs clearance centers at the US airports. These kiosks will provide a fast-track immigration clearance to Indians who have enrolled for Global Entry Programme and completed the mandatory prerequisites.
Work visa to be one of the problems to be discussed when PM visits US
When Prime Minister Narendra Modi is going to visit the US, he is going to be discussing the H1B Visa troubles that are suffered by the IT industry of India. This is going to be one of the issues discussed in the dialogue between India and the US.
The Prime Minister will most likely be visiting the US on June 25 and 26 of the year 2017.
The H1B is an exclusive visa that is offered to overseas workers who intend to work in the United States. It is a non-immigrant visa. This visa is given to individuals who like to work in technical or theoretical fields which require specialized skills.
India has constantly been asking the US to make ease up the visa system of the US as a lot of workers from Indian companies play an important role in enhancing the economy of the US.
United States Organizes Student Visa Day in Several Indian Cities
The United States Embassy welcomed over 4000 Indian students who hoped to draft an application for a US Visa. These visas were reserved for those who wanted to pursue higher studies in the North American nation. As of now, the US is housing around 166,000 Indian students that have been enrolled in several different institutions.
H-1B Visas Issued Will Not Decline: Commerce Minister
The Union Commerce and Industries Minister, Ms. Nirmala Sitharaman has reassured the IT sector with regard to the issuance of the H-1B visas. The minister stated that the number of visas was not likely to go down and the proposed changes would only ‘tighten the selection process’. The IT sector has been on tenterhooks ever since the revamp of the H-1B visa applications was announced, and the Indian government has sought to calm the industry amidst fears of a decrease in the number of visas issued to India.
Out of the total number of H-1B visas issued each year, 17% are allotted to India. With the current administration looking to alter the allocation system from a lottery to a merits-based one, Indian companies were afraid this would result in an increase in costs, while Indian IT professionals were afraid they would lose their jobs.
This latest announcement comes on the heels of a statement made by Ms. Sitharaman where she appeared to be talking tough in the face of accusations made by the White House on ‘India unfairly cornering the H-1B visa market by flooding the system with applicants to up their chances of being allotted a visa’.
Additional US Visa Appointments Available till December
The US Embassy officials have decided to temporarily increase the employees and staff in order to reduce the waiting time for visitors from India. So, there will be additional visa appointments available till December. They have also requested the visa applicants to take advantage of this opportunity and start booking for appointments. They can also persuade their family members and friends who have previously not applied for visa due to the amount of time needed to come forward now and avail this opportunity. They also have the provision of rescheduling previously made appointments.
Issuance of US Visa in India cross 1 million mark
The US visas for tourism and business issued for Indians has crossed the mark of 1 million. When compared to the last 5 years, there has been a growth of 81 % in all the various categories. If this turns out to be an indication for India-US hard work for boosting the tourism and bilateral business links in the year 2017 then this number will go further up.
According to the Consular Affairs Assistant Secretary of State, Michele Thoren Bond, the visas are from different categories that include tourists, business people and students. US President Barack Obama and Prime Minister of India Narendra Modi have taken a decision of considering 2017 as the tourism year. This will be done to encourage tourists and travel. Michele Thoren Bond added that the US Congress will deal with all the concerns related to the Visa fee hike expressed by different companies in India.