Upcoming US EB-5 Visa Rules: The United States EB-5 visa which is also known as the EB-5 Immigrant Investor Visa Program, was created in the year 1990 by the Immigration Act of 1990. It was formed in order to provide a method for eligible Immigrant Investors to turn into lawful permanent citizens, which are also informally known as “green card” holders, by investing at least $500,000 or $900,000 after November 21, 2019 to finance a business in the United States that is going to employ at least 10 American workers.
The Immigrant Investor Visa Pilot Program is an addition to the traditional EB 5 program, sanctioned in the year 1992, that offers foreign investors applicants an option to qualify for the visa through Regional Centers investments.
EB-5 Visa New Regulation 2019
Recently, the US Citizenship and Immigration Services (USCIS), published regulations in order to make significant changes in the EB-5 Immigrant Investor Program, which are going to be effective from 21 November 2019.
The current rules call for a least $1 million investment from every single EB-5 investor, which have been now reduced to $500,000 in a high unemployment area, a Targeted Employment Area (TEA) or assured rural areas. The new regulation increases the investment to $1.8 million or $900,000 in a TEA, raising the amount takes price rises into account.
In addition to that, the new rules say that states can no longer elect regional centers; this duty at the present goes to the Department of Homeland Security (DHS), which manages USCIS. This rule is planned to remove gerrymandering of TEAs.
Who can Make a Capital Investment into a Commercial Enterprise as Indian Citizen?
The EB-5 U.S. Immigrant Investor Visa Program is also accessible to the Indian citizens who can also make a capital investment into a commercial enterprise. In India, you can find the increasing demand for this visa category among Indian citizens from various cities and states such as Chandigarh, Punjab, Delhi NCR, Ahmedabad, Gujarat, Mumbai and Pune, Bengaluru, Chennai, Hyderabad and many more.
Depending on the geographical area the Indian citizen can make a capital investment into a commercial enterprise of US $500,000 (Approx. INR 3.4 cr ) or US $1,000,000 (Approx. INR 6.8 cr).
They can invest in a new business or that which creates 10 full-time jobs for U.S. workers in a directed employment area.
The U.S. Citizenship and Immigration Services permits about 10,000 EB-5 visas per year.
On November 21st, 2019, US Green Card Investment is going to rise from $500K to $900K.
In recent times, the Reserve Bank of India (RBI) in its monetary policy review boosted the transmittal limit under the Liberalised Remittance Scheme (LRS) to $250,000 single person a year.
Advantages and Benefits for Indians
As of 2015, there were more than 2.4 million Indians establish the second-largest immigrant group in the US. EB-5 program to help the entrepreneur and your family members (spouses and unmarried children under 21) to enjoy many benefits, out of which some are as follows:
The guaranteed route to long-lasting residence as long as you fulfill the minimum investment as well as job-creation necessities with no risk of any popular judgment which might impact your immigration status.
Get great jobs opportunities, which also comprises of government jobs, or set up one or several businesses.
Your spouse, on the other hand, will automatically be granted the green card, which in other terms means that he or she can live, work, and travel just like any other permanent resident deprived of any spouse-centric legal restrictions.
Full freedom to travel and be inherent in anywhere within the nation.
Along with your permanent resident, your unmarried children can also get various benefits such as:
They can study in some of the best institutions in the world deprived of facing limitations imposed on foreign students.
As compared to the foreign students, you will have to pay just 150% to 300% lower tuition fee
You can also enjoy more scholarship options as compared to foreign students.