Dark Reality Of Going To US To Make More Money

Summary

The 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.