Friday, April 22, 2005

America, a choice for creative Indians : Dinesh Dsouza

Dinesh Dsouza, a US Thinker of Indian diaspora, , questions the reverse thinking habit of our Desi nationals:

"In general, America is the only country in the world that extends full membership to outsiders. The typical American could come to India,live for 40 years, and take Indian citizenship. But he could not "become Indian." He wouldn't see himself that way, nor would most Indians see him that way. In America, by contrast, hundreds of millions have come from far-flung shores and over time they, or at least their children, have in a profound and full sense "become American."

"America offers more opportunity and social mobility than any other country, including the countries of Europe. America is the only country that has created a population of "self-made tycoons." Only in America could Pierre Omidyar, whose parents are Iranian and who grew up in Paris, have started a company like eBay. Only in America could Vinod Khosla, the son of an Indian army officer, become a leading venture capitalist, the shaper of the technology industry, and a billionaire to boot. Admittedly tycoons are not typical, but no country has created a better ladder than America for people to ascend from modest circumstances to success."

The Indian diaspora is today the third largest Asian community in the US, is upwardly mobile and is on its way to becoming a political force in that country.

Indian Americans totalled about 1.7 million in the US according to the 2000 census, their numbers having gone up by an incredible 106 percent since 1990. It grew at a rate of 7.6 percent annually in the last 10 years.

In the process, Indian Americans replaced Japanese Americans as the third largest Asian community in the US after the Chinese (2.7 million) and Filipinos (1.9).

The migration was fuelled by the technology boom in the 90s when Indian techies made their way to the US in large numbers. The number of H1-B visas issued to India jumped from 2,697 in 1990 to 15,228 in 1995 and to 55,047 in 2000.

The number of Indians getting Green Cards every year has also more than doubled since 1999 . And Green Cards are one step away from citizenship which gives full voting rights.

Indian Americans were much above the median on a score of indices. Sixty-four percent of them were college educated as against the national average of 27 percent. The average median family income for the Indian American community was estimated at $70,000, against the average family income of $50,000.

38 percent of all physicians in the US were of Indian origin, as were 10 percent of all medical practitioners.

Wednesday, April 20, 2005

Panama

Republic of Panama (Republica de Panama).

The Panamanian government has created several laws which, depending on the particular type of visa applied for, enable foreigners to obtain legal temporary or permanent residency, work permits, and in some cases citizenship and passport in the Republic of Panama. Most of these laws have been created to promote foreign investment in the country which benefits the local environment or local economy of Panama.

This program allows foreigners to obtain immediate Panamanian passport under the condition that they make a 5 year time deposit (certificate of deposit - "CD"), at the Banco Nacional de Panama, which earns a minimum of US$ 750 per month in interest income.

At current interest rates, this would mean that the investor would need to deposit a minimum of US$ 200,000 in the 5 year time deposit at the Banco Nacional de Panama. The monthly interest earned from the time deposit (CD), would be deposited directly into the applicants savings account, and the applicant can withdraw the funds in the savings account at any time.


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