Demand for EB-5 program increased 400% in India between 2016-19
Invest In the USA (IIUSA), in partnership with PHD Chamber of Commerce and Industry, has commenced a series of educational events in India for cohesive knowledge-building sessions about the US investment and EB-5 immigration process, project due diligence as well as financial & tax planning among others.
The EB-5 program affords foreign nationals and their spouses with unmarried children under age 21 the ability to obtain a US visa based upon a minimum investment in an economic development enterprise that creates or retains a specified number of jobs.
The US EB-5 Immigrant Investor Program requires that a foreign individual invests in a new commercial enterprise that is associated with government-approved regional centers based on proposals for promoting economic growth.
IIUSA Executive Director Aaron Grau said, “IIUSA is representing the EB-5 regional central industry and we are very pleased to work with PHD Chamber and we are here to educate potential investors about the program.”
According to the latest findings by IIUSA, between 2016 and 2019, demand for EB-5 visas, which give candidates a straight road to US citizenship, increased 400% in India. Additionally, Indian Nationals held the biggest number of EB-5 Immigrant Investor applications in the October-December and April-June quarters for the fiscal year 2019.
“The partnership that we have with PHD Chamber of Commerce and Industry is invaluable. The EB5 program is truly an economic development which will help in creating jobs for Indian workers,” Grau said in a release on 30 May 2022.
“The program is back on track for a 5-year stint,” he added.
The events were a deep dive into topics such as the immigration process, time and specific considerations for Indian investors (taxation, source of funds, currency transfer, etc.).
The events included expert panel discussions on the new world of EB-5 in light of program changes through the EB-5 Reform & Integrity Act of 2022.
“The association with organizations like PHDCCI and others in the US we are making the case for what benefits the program brings to not only the United States but also to the investors,” said Grau.
“At a time when Indian work-based visa holders in the United States are still feeling the pressure from strict immigration restrictions, one type of visa has grown in favor,” he said.
“The EB-5 or investor visa which had few takers in India due to its expensive investment is now considered a very effective path to permanent citizenship in the USA. With the new EB-5 reauthorizing stature coming into effect in March 2022, it is important to shed light on the new trends in EB-5 investor markets.
“During the events, we fostered an ecosystem allowing all our attendees to garner in-depth knowledge about the program and help their pursuits of US immigration and investments,” he said.
The IIUSA India series was sponsored by industry stalwarts such as Ajmera Law Group, Atlantic American Partners, CMB Regional Centers, Davies & Associates, EB5 Capital, EB5 New York State, EB5 Affiliate Network, EB5 marketplace, First Pathway Partners, FRR Immigration, Meyer Law Group and Miller Mayer.
The events are being held in Delhi, Mumbai, Hyderabad and Bengaluru in May and June. fiinews.com
