Dark Reality Of Going To US To Make More Money
Summary
TLDRThe video script discusses the challenges and options for Indians seeking to study and work in the US. It highlights the significant financial gains possible in the US but also the difficulties in obtaining a job post-graduation, the high cost of education, and the complexities of the H1B visa and green card processes. Alternatives such as the EB5 investment program and non-cap based H1B visas are explored, along with the rising popularity of the UAE as a destination for Indian professionals due to its tax-free environment and job opportunities. The conversation underscores the importance of expert guidance for navigating these paths.
Takeaways
- 💼 Going to the US for education and work can significantly increase one's wealth by 5 to 10 times compared to staying in India.
- 🎓 Post-graduation, students on a student visa have a limited time to find a job to stay in the US; otherwise, they must return to their home country.
- 💰 The average tuition fee for a master's degree in the US is about a crore, which is difficult to repay with the starting salary in India.
- 🏦 The EB-5 visa program offers a route to a green card by investing in a US business and creating 10 American jobs, but it requires a substantial financial investment.
- 🚫 Indians face longer wait times for a green card due to the country's large population and lack of certain treaties with the US.
- 🔄 There is a possibility of obtaining a non-cap based H1B visa for those employed by certain organizations like universities, which do not require a lottery.
- 🇦🇪 The E2 visa allows business owners to live and work in the US, but Indians cannot apply for it directly due to the absence of a treaty with the US.
- 🏫 There is a teacher shortage in the US, and becoming a certified teacher can be a pathway to obtaining an H1B visa without a quota limit.
- 🌐 Dubai has become a popular destination for Indians due to its proximity, no income tax, and availability of jobs, especially for skilled professionals.
- 🏥 Health insurance in India does not apply abroad, and it's crucial to get travel and then appropriate health insurance in the US to avoid high medical costs.
- 📉 The dream of moving to the US for higher education and work remains, but the reality is becoming increasingly challenging due to visa and residency restrictions.
Q & A
What is the estimated difference in wealth generation for someone who stays in India versus someone who goes to the US for 7 years and then returns to India?
-The wealth generated can be 5 to 10 times more for someone who has spent 7 years in the US, as compared to someone who stayed back in India.
What is the catch for international students on a student visa in the US after graduation?
-International students on a student visa must find a job within 2 months after graduation to stay in the US; otherwise, they have to return to their home country.
What is the average tuition fee for a master's degree in the US, and how does it compare with the starting salary in India?
-The average tuition fee for a master's degree in the US is about a crore, which is difficult to repay with the starting salary in India, as one might not even be able to pay the interest on the loan.
Why can't people from India apply for an E2 Visa like citizens of other countries such as the UK, Canada, Sri Lanka, Pakistan, and Bangladesh?
-The US does not have a treaty with India for the E2 Visa. The E2 Visa is available only to citizens of countries that have such a treaty with the US, allowing them to set up a business and live in the US.
What is the EB5 Visa, and how does it differ from the H1B work permit?
-The EB5 Visa is a program that allows an investor to apply directly for a green card by creating 10 American jobs with an investment of $800,000 in a rural area or a targeted employment area. It is different from the H1B work permit, which is subject to an annual quota and is not a direct route to a green card.
What is the non-cap based H1B visa, and how does it differ from the regular H1B visa?
-The non-cap based H1B visa does not have a cap on the number of visas issued and is available to employees of certain organizations like schools, colleges, universities, hospitals, and non-profit research organizations. It differs from the regular H1B visa, which has an annual quota of 65,000 and is subject to a lottery system.
What is the current situation for Indians looking to move to Canada or the UK?
-The situation has become more difficult for Indians looking to move to Canada or the UK due to stricter immigration policies and a reduced number of available jobs and PR opportunities.
Why has Dubai become a popular destination for Indians seeking to work abroad?
-Dubai has become popular due to its proximity to India, zero income tax, availability of jobs, and the fact that the cost of living can be managed by living in less central areas.
What are the challenges faced by Indian students who go to the US for higher education and then return to India?
-Indian students face challenges such as repaying their education loans with the lower starting salaries in India, and the potential loss of their property if they are unable to repay the loan which was secured against their property.
What is the Indian dream when it comes to moving abroad, and has it changed over the years?
-The Indian dream of moving abroad, particularly to the US, for higher education and a high-paying job has not changed, but the difficulty in achieving this dream has increased due to stricter immigration policies and competition.
What advice would you give to someone moving to the US regarding health insurance?
-It is recommended to get travel insurance initially, and once in the US, to choose a comprehensive health insurance plan that may be offered by universities or companies, and to consider additional dental insurance if necessary.
Outlines
💼 Challenges and Strategies for Indian Students in the US
This paragraph discusses the financial implications and challenges faced by Indian students who study in the US. It highlights the significant increase in wealth potential for those who manage to stay and work in the US post-graduation, but also points out the difficulties in securing a job and staying in the country after graduation due to visa restrictions. The high cost of education and the struggle to repay loans on Indian salaries are also emphasized. Additionally, the paragraph touches on the EB-5 visa as an alternative route to a green card through investment, and the limitations faced by Indian citizens due to the lack of specific treaties with the US.
🎓 Navigating the US Immigration System: H1B Visas and Alternatives
The second paragraph delves into the complexities of the US immigration system, particularly focusing on the H1B visa process. It explains the limited annual quota and the competitive nature of the visa lottery, which results in a low chance of success for Indian applicants. The paragraph also introduces the concept of non-cap based H1B visas, which are exempt from the annual quota and available to certain organizations such as educational and medical institutions. Furthermore, it discusses the E2 visa as a business visa option, with the caveat that Indian citizens are ineligible due to the lack of a treaty between the US and India. A workaround involving obtaining a Caribbean passport from a country with an E2 treaty is mentioned, along with the legal and logistical challenges it presents.
🌍 Exploring Opportunities and Alternatives to Traditional Western Immigration Destinations
This paragraph explores alternative destinations for Indian immigrants beyond the traditional choices of the US, UK, and Canada. It discusses the rising popularity of the UAE, particularly Dubai, due to its proximity to India, the absence of income tax, and the availability of jobs in various sectors. The paragraph also touches on the teacher shortage in the US and the potential for Indians with a bachelor's degree and a teaching certification to secure jobs and H1B visas without being subject to the quota. Additionally, it mentions the changing dynamics of immigration to countries like Australia and Singapore, where opportunities for permanent residency have become more limited.
📚 The Indian Dream and the Reality of Pursuing Higher Education Abroad
The final paragraph reflects on the enduring allure of the 'Indian dream' of studying and settling in Western countries, despite the increased difficulty in obtaining permanent residency. It addresses the financial burden of pursuing a master's degree in the US and the challenges of repaying educational loans with Indian salaries. The conversation also covers the importance of securing adequate health insurance while studying or working abroad, with a cautionary tale about the consequences of choosing an insufficient policy. The paragraph concludes with an acknowledgment of the need for expert guidance to help Indians navigate the complexities of career and financial decisions related to studying and working in foreign countries.
Mindmap
Keywords
💡Wealth Generation
💡Student Visa
💡Master's Degree
💡H1B Visa
💡Green Card
💡EB5 Visa
💡Non-Cap Based H1B
💡E2 Visa
💡Teacher Shortage
💡Travel Insurance
💡Health Insurance
Highlights
Wealth generation for Indians in the US can be 5 to 10 times more compared to those who stayed in India.
Challenges for students on a visa in the US include finding a job within two months post-graduation to stay in the country.
The average tuition fee for a master's degree in the US is about a crore, which is difficult to repay with an Indian starting salary.
The US has treaties with countries like the UK, Canada, Sri Lanka, Pakistan, and Bangladesh, but not with India, affecting visa and green card processes.
The EB-5 program offers a direct route to a green card through investment, requiring the creation of 10 American jobs per investor.
The H1B visa has a limited annual quota and is subject to a lottery system, with less than a 10% chance of being granted.
Non-cap based H1B visas are available for certain organizations like schools, colleges, universities, hospitals, and NOS without a lottery.
The E2 visa allows business owners to live and work in the US, but Indians do not qualify due to the lack of a treaty between the US and India.
A workaround for the E2 visa involves obtaining a Caribbean passport from a country like Grenada, which has an E2 treaty with the US.
US immigration laws have changed, making it more difficult for those with Grenada passports to obtain an E2 visa without establishing residency.
There is a shortage of teachers in the US, and becoming certified can lead to H1B non-cap based visas and job opportunities.
Popular destinations for Indians besides the US include Canada, the UK, and Dubai, with each having its own set of challenges and benefits.
The UAE has become popular due to its proximity to India, zero income tax, and growing job opportunities.
In the US, the high cost of dental treatment can necessitate flying back to India for dental work, highlighting the importance of proper insurance.
The Indian dream of moving to the US and achieving a high-paying job remains, despite increased challenges in obtaining visas and permanent residency.
Health insurance in the US is separate from dental coverage and must be chosen carefully to avoid high out-of-pocket costs.
The importance of choosing the right health insurance policy in the US is underscored by the high costs of medical treatment.
Transcripts
somebody who has stayed back in India
versus you who went to us for 7 years
and then came back what would you say is
the difference in terms of your wealth
generated 5 to 10 times for sure there
is one small catch when you go on a
student visa after your graduation
within 2 months if you don't find a job
you don't get to stay in the US but the
average tuition fees right now to get a
master's degree in the US is about a
crore with the IND salary with the
starting salary that you'll get you
can't even pay the interest for get
paying the loans really that's how bad
it is yeah it is damn so they have these
treaties with UK with Canada with Sri
Lanka with Pakistan Bangladesh but not
with India people from Sri Lanka and
Pakistan can do this and India can't no
because of our share population don't
fight with me I didn't make the law
you're going to have to wait for like 50
years to get your green card and the
weight also might go up to 100 years so
I can't be having kids in the US if this
is the plan is there any hack which most
people don't know about yes there is
please share
all right
[Music]
so are there any success stories that
you can share I went to us I did my MBA
I worked for a university in Boston and
after 7 years I've moved back to India
somebody who has stayed back in India
versus you who went to us for 7 years
and then came back what would you say is
the difference in terms of your wealth
generated so it's quite significant 5 to
10 times for sure five to 10 times more
easily yes so what are those countries
that people are most interested to
settle down in forever so number one
country always has been us it is still
us uh I mean there are uh statistics
saying that you know it's you're going
to have to wait for like 50 years to get
your green card so is that like so
that's true and the weight also might go
up to 100 years but that is H1B the work
permit to green card but people can
invest and get an eb5 based Green Card
which is year and a half to years why
don't you just uh break down this eb5
Visa uh because all of us know that
getting a green card in the US is quite
hard so the eb5 is a program eb5 is not
a Visa okay all right so it's a route
directly to get a green card the idea is
to create 10 American jobs per investor
that's the Crux behind the investment
program um and the again the law is you
have to invest in a rural area or an
area where uh it's called targeted
employment area or te a where the
unemployment rate is 150% higher than
the national average only then the
$800,000 investment is valid but you
still have to create 10 American jobs
okay once you do that that's when the US
government says that yes because you're
feeding 10 families because of you 10
families have roof over their head we
are giving you and your family a green C
interesting so you need 78 crores to
give 10 jobs in the US yeah uh for most
of our audience that might be un
achievable right because most people
don't even have one not even kis right
the the average income of Indians is
like $2,000 $25,000 right so is there
like a you know like a much more
practical way of moving to the US before
that I would like to uh tell you what
people think is the right way of moving
to us if they don't have this kind of
money so most of the people think that
they can go on a student visa study get
op corre get H1B and eventually get a
green card it's sounds so nice so simple
but the thing is uh people don't know
the laws properly so first thing is when
you go on a student visa before you
graduate or sorry after your graduation
within two months if you don't find a
job you don't get to stay in the US so
you have two to three months to look for
a job and come on op otherwise you have
to come back to your home country okay
that's the first hurdle people don't
understand when they go let's assume you
get opt you get a job the next thing is
H1B 65,000 is a quota Global quota from
the whole world they give 65,000 visas
per year H1B H1B that's it that's it in
the whole country of us yes okay and and
how many people are competing for this
65,000 7 to8 lakh people apply so it's a
10% chance not even a 10% chance to get
your H1B it's a lottery so okay less
than 10% chance of converting my op into
H1B correct and what is H1B exactly it
just means you can renew it again and
again as long as you're working no so
one vis a work permit the first time you
get it for 3 years and only one renewal
is allowed for three more years after
that you have to leave the country for
one year and then again put your name in
the lottery and hope that you'll
carry so I can't be having kids in the
US if this is the plan so of course
there are some legal workarounds so once
you're on H1B you are allowed to file
for a green card once you file for a
green card and after you cross a certain
stage in that filing uh after that US
government has to renew your H1B every
every year till the time you get a green
card but the problem is the weight is 35
to 50 years right so it's like forever
so I can by Theory I can stay there
forever yes just that I won't be like a
first class citizen I'll be a second
class citizen because I'm not a citizen
correct interesting so now that is the
conventional route yes is there any hack
which most people don't know about yes
there is please
share all right so um us offers
something called as non-cap based H1B
non nonap based h-1bs now 65,000 is a
cap correct right they don't call it
Kota they call it cap correct um outside
the 65,000 there are another 20,000 H1B
visas available for people who have done
masters from
us now this is cap based visas now there
are certain uh organizations who qualify
to get H1B uh sponsored for their
employees any time in the year without
putting their name in the lottery so
these organizations are schools colleges
universities hospitals and NOS not all
of them qualify but some of them do
qualify it's not easy to get a non-cap
based H1B because the employer a lot of
times thinks that you might be using
their organization just to just to stay
in the country correct correct so what
are these kind of companies again like
you said hospitals and SCH schools
colleges universities hospitals and NOS
can you like name some colleges or
hospitals or whatever you can't name
them no no no why no I mean okay Howard
MIT Stanford Yale so if you get employed
by these kind of colleges abely you can
uh it's easier for you to get the H1B
Visa because then there's no Lottery yes
and no private companies no private
companies like Google Facebook Microsoft
no so what they do is if they know they
need 100 employees they file th000 h-1bs
okay so they they give so many number of
jobs out of which they know that 5 10%
only will get the h-1bs then what is so
there is one Visa called E2 Visa what is
this E2 program now that's a business
Visa where you can set up a company in
us and you start running it and the
whole family gets a E2 Visa there is no
minimum investment required there is no
minimum job creation required like eb5
has minimums for both there is one small
catch okay Indians don't qualify to even
apply for it2 okay why so us has to have
a treaty with individual countries where
those country citizens become eligible
to file for E2 Visa so they have these
treaties with UK with Canada with Sri
Lanka with Pakistan Bangladesh but not
with India why because there's no
minimum investment requirement right so
$50,000 and half India will go to
us so even China is not part of this no
China is not a part of this so we just
$50,000 if you set up a business and
there's no criteria of how many
employees and all of that it could just
be like a digital business you a onean
person yes and you can get that Visa
absolutely and people from Sri Lanka and
Pakistan can do this and India can't no
because of our share population don't
fight with I didn't make the law
okay so okay so I'll tell you a
workaround okay there is another work
around which is which used to be an
amazing workaround uh couple of years
ago where Indians would file for a
Caribbean passport in two to three
months you would get a Caribbean
passport meaning I become a citizen of
of a Caribbean country called Grenada
because that's the only country that has
E2 treaty with the US Grenada Grenada
it's next to Barbados okay so that West
Indies within two months I can be a
citizen of that country yeah now it's 6
months but that time it was 2 months
okay and in 6 weeks you would get E2
Visa so I would have helped so many
people get to us in a very very
inexpensive way but then us figured what
thees was doing and they and they
changed their laws now so now even if
you get a Gren passport you have to
establish a residency with that country
for 3 years or more okay only after that
you can do so basically if I am an
Indian I can't I don't have a million
dollars to invest in the US I still want
to go the US so first they're telling go
to Grenada become a citizen over there
it takes me 6 months I and $300,000 and
$300,000 so that's about 2 CR which is
still much lesser than 7 cror so then I
live there for 3 years enjoy the beaches
you don't live there you live in India
just go come go come what go go come and
then I can maybe set up a business in
the US using the what is that B2 E2 E2
Visa yes interesting any other
workarounds apart from this or this is
it no no this is the maximum yeah this
is what I can talk about oh there
are so then others are all illegal huh
others are others are illegal stuff no
no no okay so I I'll tell you a very
important piece of information so you
you worried that if you reveal this then
the US government will get to know and
that's how it
is okay but I'll tell you one legal
thing that definitely I'm helping a lot
of people uh so there is a tremendous
teacher shortage in America High School
teachers scho Elementary School teachers
tremendous shortage in us if you want to
become a teacher then you need uh a
bachelor's degree in any field you have
to be fluent in English obviously you
don't need I test toi but you need to be
fluent in English because you'll be
teaching in English language and third
you need a certificate certification
program from a particular state which
will allow you to become a teacher
that's like a three-month course which
I'll help people do online huh and in
one month you give the exam you can give
the exam wherever they hold GMAT G in
the same testing centers you can go and
give this exam okay so fourth month you
qualify to be a teacher in the US and
then there are a lot of jobs available
because there is a teacher shortage
another 2 months you can get a job and
now remember I told you H1B non-cap
based so there's no quota so then they
can go to us and the cost is not as much
so damn us is happy to get teachers
because India has good quality people we
speak really good English is there like
a criteria that I should be teaching for
at least so many years not at all
because once you go there you'll do a
9-month internship and after that you'll
become a but it's a paid internship
you'll get proper salary it's a high
school yeah but the salaries are between
40 and 50 $555,000 perom so it's a good
Sal so it's like I do it for like a year
yes and then I can switch other into
other jobs not really you can only
switch to any other non-cap based
companies which means from school to
College college to University so what
are the other popular countries that
Indians love to move to Canada was and
I'm saying was a very popular country
until recent recently but uh a lot of
Indians are now not happy it's not easy
to get to Canada anymore and Canada was
giving 4 to 5 lak people PR I don't know
how many work permits so imagine how
many people went to Canada in the last
few years and now not enough jobs and
you know all those issues and okay so
Canada is out what other countries um UK
again same thing it used to be very
popular long time back but now they are
also struggling okay what other any
other countries so a country that
suddenly has sprung up is UAE so Dubai
suddenly has become very popular amongst
Indians it's about 2 and a half 3 hours
away from uh most of the cities in India
by flight by flight by flight and uh
time difference also is not that much
time difference is not much you can
visit your family anywhere anytime you
want plus zero tax right so no income
tax is a very big thing so jobs are
available because the locals don't want
to work uh it's a growing economy uh you
see the amount of construction that's
going on it's czy but in terms of jobs
like is there all kinds of job available
it's a full-fledged country so they need
teachers they need software engineers in
fact I know some companies who are
offering more money to software
Engineers than a US company is offering
because they know that everyone is
running to us any guy who has software
skills is rushing to us so to attract
that pool they are paying them more
money than American companies and there
is no income tax so let's do a quick
math mhm right so a software engineer in
India let's say on an average they're
making about 30 lakhs perom mhm that
same software engineer if they go to the
UAE how much would they be making 190 to
200,000 Dam they'll make so that's about
uh 23 you multiply so 4550 LS 4550 lakhs
and plus zero tax zero tax even if they
make same money it's extra 30% right and
in terms of cost of living is of course
significant signicantly higher in terms
of because the real comparison to do is
the savings yes so in your experience
are people able to save more living in
the UAE versus living in India
considering the living cost they are
able to save I'll tell you why now here
in Mumbai let's say you get a job in
nariman point you will not live in
nariman point you live in Andheri
similarly in Dubai a lot of people if
you get a job in BJ Khalifa let's say
that building you not live in downtown
Dubai you live live a little further
down or a lot of people live in Shara
cost is half so there is there are ways
to save money okay okay so that was UAE
any other country these are like The
Usual Suspects you know us UK Canada
Dubai mean let's talk about Australia
and then is that Australia something
good Australia no more because no but
again the same issue the country is very
big so not enough jobs to offer anymore
because again too many people who got PR
too many people who went to study and
then they continued living there so
today most of their programs they have
discontinued like one program the
investment based program they have where
you invest 1.2 million Australian
dollars and get a PR but in that money
you'll get a us eb5 right why would you
go why would you go to Australia so that
takes out all the popular Singapore is
an option again for business also
Singapore Once Upon a Time used to very
easily offer uh residency permits
permanent residencies even citizenships
but now it has become very difficult to
get you know to stay permanently so
hence a lot of people from Singapore
Australia gu in touch with me that they
want to either move to us or Dubai but
they don't want to continue staying in
these countries so from what I'm
understanding is that us is still the
most viable option always it's a big
country lot of opportunities um imagine
if 7 to 8 lakh people applied in the H1B
Lottery that means there were so many
jobs given right without a job you can't
apply for H1B correct correct so jobs
are there in us there's no issue with
jobs issue is with getting in the 65,000
quota which is not everyone can get it
but let's look at this like for the
average tuition fees right now to get a
master's degree in the US right or most
Western countries is about a CR correct
now if I can work there for only two or
3 years How likely is it for me to be
able to repay that loan in the time that
I have because if I come back to India
it's going to be very difficult to pay
that loan with the Indian salary yes
with the Indian salary with the starting
salary that you'll get you can't even
pay the interest forget paying the loan
so are there many stories like that of
people not being able to pay back the
loan because of the situation yeah but
what happens is you get education loan
only against property and your parents
are always guarantee right so if you
don't repay your parents will have to
repay otherwise you lose the house so a
lot of people end up in the situation
yes I don't like it but that's the so
they take a 1 CR loan they would have
given their property as their collateral
yes they did not get a job in the US
coming back to India and then what it
became a huge loss huge financial loss
yes absolutely and there are a lot of
people like that lot of people like that
and they go with an excitement that now
I'm going to settle there us dream yes
sir if you go back 10 years the Indian
dream was to go to the US get a high
paying job and settle down and live the
American dream right that was that was
the Indian dream what is the Indian
dream today according to you because
considering how bad the situation has
gotten in us and UK when it comes to
giving permanent residency visas what is
the Indian dream today according to you
so the Indian dream continues to be the
same that has not changed people still
want to go there it's just that so many
people are dreaming the Indian dream
that not everyone is able to get to it
but it's still a dream and it's a
fabulous dream to have so let's say I'm
now I'm in India I have a health
insurance and life insurance now if I
want to go outside India let's say I got
into the US now how do I look at my
health insurance like do I need to get a
separate one or do my Indian Health
Insurance still apply here like how do I
look at that no so Indian Health
insurance will only be applicable in
India and uh when somebody travels to us
or any other country I recommend them to
get a travel insurance to start with now
that's something that covers you for a
couple of months right but once you land
in that country then you have to pick a
good insurance plan and uh then go ahead
and take that insurance now if you go on
a student visa the universities will
have options for you if you go on a work
permit the companies will have a group
policy for you but you have to buy your
own insurance when you are abroad now so
there was uh one student I had helped
him go and uh he picked the cheapest
possible policy okay all right and
frankly the difference for what for the
health insurance for the health
insurance in the US in the US and
frankly there was like a $200 difference
it was not like a $2,000 difference but
still he picked the cheapest and he had
an issue with his teeth he should have
added Dental so no uh health insurance
policy in US comes directly with dental
it's always a separate policy yeah and
if you know you have a dental problem if
you know that you have more cement than
teeth in your mouth you better get a
dental plan and and I had told him that
but he wanted to cut corners and he
didn't and eventually he had to Shell a
lot of money to get things fixed and it
reached to a point where he had to fly
to India to do root canals because it
was still cheaper to buy the air ticket
and do it in India and go back really
but if you would have taken a proper
plan then he would have you're saying a
root canal will cost lacks in US yeah or
get an insurance all right guys on that
note thank you so much for watching till
the end my conclusion from talking to
him is that the situation has gotten
very very hard and I think experts like
you are in the need of the r to guide
Indians as to what they should do with
their career and their money thank you
so much for giving us your time thank
you sir it was a pleasure talking to you
thank you so much guys and I'll see you
in the next one
[Music]
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