EB 5 Article

Indians queue up to shell out half
a-million dollars for US Green Card

US dollar seach to migrate to the US through a government program called EB-5. The scramble follows a US government plan to increase the investment such applicants need to make to get an EB-5 visa from $500,000 to $800,000 from December 1st, 2017.

The US Citizenship & Immigration Services (USCIS) approved 111 EB-5 visas for Indian applicants between October 1,2014 and September 30, 2015 (FY15).

The EB-5 Immigrant Investor Program is a legal and possible profitable way for non-Americans to invest and live the 'Americandream'. While America still keeps its doors open for high skilled migrants (through student and job visas), Uncle Sam is now looking for well-heeled foreigners who can invest in his country.

The EB-5 program is exploding in popularity as more countries outside of China are taking advantage of it. Last year, over 18,000 investors from all over the world invested in the EB-5program.

Applications from India, however, are insignificant compared with Chinese applicants, who managed to secure over 8,150 visa approvals in FY15. Indians may go the China way very soon. Indians are slowly becoming aware of this program. Moreover, Indians are favored over many other nationalities in the US.

The EB-5 program has two broad divisions, the direct investment route and the regional central (investment) program. The former is quite cumbersome as it involves starting a new business and creating at least 10 full-time local jobs. A person taking this route will have to invest at least US $1 million dollars in a business in that country. The US government is thinking of raising this limit to $1.2 million next fiscal year.

The regional central investment program, on the other hand, is simpler and cheaper. All you have to do is invest (as a limited partner) $500,000 in an EB-5 project in America. The investment is redeemable after five years. You can even pocket a preferred return per annum if you invest in a profitable venture. The investor gets a greencard (for himself and his immediate family, spouse and children under 18years).

EB-5 visas are issued in 20-24 months after submitting applications and making the investments. If visa conditions are met, a greencard isissued after five years. A greencard holder can apply for US citizenship after five years. The US government is primary concern is about the employment opportunities this program generates and the consequent stimulus on the American economy.