According to one expert, there has been a ‘dramatic rise in demand for EB5 among Indians’ in the United States. All of the qualifications may be found here:
The US Citizenship and Immigration Services (USCIS) EB-5 visa program offers permanent citizenship to foreigners who spend a minimum of $800,000 on a new commercial business that produces at least 10 jobs for US employees.
Indian investors, in particular, have expressed strong interest, with demand for EB-5 visas from India on the rise.
According to Nicholas A. Mastroianni, President, and Chief Marketing Officer of the US Immigration Fund (USIF), the United States EB-5 visa program, often known as the “Golden Visa,” is drawing an increasing number of rich applicants from across the world.
Foreign investors who make large investments and establish at least ten permanent employees in the United States are eligible for permanent residency under the program.
Following legislation enacted by the US Congress in March of this year, the investor program, which began in 1990, was recently amended after being on pause for over a year. As a result, the minimum investment amount was raised.
According to investment migration expert USIF, there has been a significant surge in the number of Indian investors interested in the EB-5 visa program as an alternative to student visas and H-1B visas.
What Exactly Is the ‘Golden Visa’ Program?
The US Congress established the EB-5 visa program in 1990 to stimulate the economy by luring foreign investors who would create employment and invest cash in US enterprises.
The program provides permanent residence to investors, their wives, and unmarried children under the age of 21 in exchange for huge quantities of money invested in a US enterprise and the creation of at least 10 permanent employees.
The Immigrant Investor Program, also known as the Regional Center Program, was established in 1992 to provide EB-5 visas to individuals who engage in commercial firms linked with USCIS-approved regional centers. A portion of the EB-5 visa quota is also set aside for investment in rural regions, high-unemployment areas, and infrastructure projects.
Following the 2008 financial crisis, the EB-5 visa program became a key instrument for the US administration to attract overseas investment.
Requirements for the EB-5 Visa:
The US Citizenship and Immigration Services (USCIS) EB-5 visa program offers permanent citizenship to foreigners who spend a minimum of $800,000 on a new commercial business that produces at least 10 jobs for US employees.
“Although the minimum investment requirement for the EB-5 program has recently been raised,” stated Nicholas A. Mastroianni, President and CMO of the US Immigration Fund (USIF), “the program has continued to gain popularity in recent years.”
Indian investors have shown special interest, with demand for EB-5 visas from India increasing by 400% between 2016 and 2019.
The number of applications filed by Indian investors in 2022 reached 1,381, a 75% rise from 2019 and reflecting a consistent rising trend in the program’s popularity, he noted.
“U.S. Immigration Fund has also taken a significant step to assist investors by introducing the leading EB-5 Investor Financing Program, designed to make the program more accessible and affordable for investors,” he continued.
Individuals can now join in this pioneering venture with an initial commitment of merely USD 500,000.”