US Green card to cost much more for Indian investors

This rule amends previous, Department of Homeland Security (DHS) regulations concerning the employment-based, fifth preference (EB-5) immigrant investor classification, specifically regarding the modernization of the EB-5 program.

Saima Siddiqui

Saima SiddiquiBy Saima Siddiqui

Published on 25 July 2019 9:16 AM GMT

US Green card to cost much more for Indian investors
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US Green card to cost much more for Indian investors
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New Delhi: The U.S. Office of Management and Budget published the final rule regarding EB-5 Immigrant Investor Program Modernization changes today. The most important change is the increase in the minimum investment amount requirement from 500,000 to 900,000 for projects in Targeted Employment Areas (TEAs).

This rule amends previous, Department of Homeland Security (DHS) regulations concerning the employment-based, fifth preference (EB-5) immigrant investor classification, specifically regarding the modernization of the EB-5 program.

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Under the EB-5 program, eligible individuals can apply for lawful permanent residence within the United States by investing in a U.S. based commercial enterprise and creating ten full-time jobs for qualified U.S. workers. Changes to the regulations include reformed Targeted Employment Areas (TEAs) designations, priority date retention, an increase in the minimum investment amounts, and clarifications on USCIS procedures for removing permanent residence conditions. The rule is being issued to include EB-5 program reforms and update of existing policies. The rule in its entirety can be found here.

Increased interest in the EB-5 visa has the U.S. Department of State (DOS) anticipating longer wait times for EB-5 principal investors. "The minimum investment amount to apply for an EB5 visa has been increased from 500,000 to 900,000, inferring that the higher investment requirement will be a dampener for all investors. We most certainly know that this hike will impact Indian investors immeasurably. The investment requirement will undergo a five-year review for adjustment for inflation. So going ahead, the fee is likely to increase every five years which is why this is the best time to secure an early priority date as the waiting list will only get longer for Indian Citizens. The wait time for an EB-5 visa is still much shorter than other green card programs and this is the last chance for Indian applicants to secure an EB-5 visa with an investment of 500,000," states Mr. Vivek Tandon,Founder & CEO of EB5 BRICS (an experienced US Immigration Lawyer and EB-5 Investment Banker).

Specifically of interest to individuals looking to invest is the timeline for implementation, which will take effect from November 21, 2019. Potential Indian Citizen investors are encouraged to file their EB-5 application before these and other changes take effect in the next few months. About EB5 BRICS :

EB5 BRICS is a leading EB-5 firm in India run by Vivek Tandon - a U.S. licensed lawyer and investment banker. The company aligns itself with the investor's goals and works with select EB-5 regional centers, direct investments and EB-5 immigration law practitioners to offer the best possible EB-5 immigration solutions. EB5 BRICS guides and supports investors through this complex financial investment and immigration process every step of the way. The company prioritizes the investor applicant's interests and helps implement effective and result-driven strategies and solutions around the investor's objectives.

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(PTI)

Saima Siddiqui

Saima Siddiqui

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