More Indians prefer US EB-5 visa route with assured migration, Green Card
Mumbai, Feb 10 (IANS) A large number of Indians are queuing up to invest in businesses in the US through the EB-5 Investor Visa which assures migration with a quicker eligibility for acquiring the Green Card.
In the past four years or so, the number of high networth individuals, corporate executives and businessmen opting for the EB-5 visas has nearly tripled, with over 350 applications in 2016.
A prominent expert and Managing Director of US Freedom Capital, David Gunderson, says though the 2017 figures are awaited, EB5 — also known as the “golden visa” — is gaining huge popularity due to “tightening of other visa categories, a more transparent EB-5 process and more Indian HNIs showing appetite for a global footprint”.
At present, under the EB-5, an Indian is required to invest $500,000 (Rs 3.2 crore) for self, spouse, and any number of unmarried children, he said.
According to latest reports from the US, the Trump Administration plans to hike this amount to $920,000 per applicant in the regular category.
“There is no minimum education or income requirements, except to prove that the investment amount is legitimately earned from business, profession, inheritance, gift or even a loan against collateral,” Gunderson told IANS in a chat recently.
Among various investment options, the US Freedom Capital has introduced the EB-5 FD+Green Card scheme for $1 million, that offers an eight per cent return — against the industry standard of 0.5 per cent for the five-year investment period.