Lured by the fabled American dream, India is set to become the second-largest recipient of the United States’ investor-immigration programme EB-5, with as much as 1,100 visas being expected to be issued in 2019 to well-heeled foreigners who can invest in the U.S., opined several high net-worth individuals here on Monday.
Speaking at a seminar on ‘EB 5 Investor Visa for Direct Green Card entry to the U.S.’ organised by AP Chambers of Commerce and Industry Federation, in association with Neelgagan International Inc, they said the demand for direct green card entry was growing.
Director of Investor Relations-American Life Inc Hal Beals said growing number of Indians had been opting for EB-5 immigrant investor programme owing to stricter regulations on other visa categories such as H-1B and H-4.
He said entrepreneurs and their spouses as well as children under 21 were eligible to apply for a green card which allows permanent residence if they make an investment of $500,000 and plan to create or preserve 10 permanent full-time jobs for the U.S. workers. The processing time for an EB-5 application is 18 to 24 months for approval, and six-nine months for processing of green cards.
AP Chambers State president G. Sambasiva Rao said many were opting to go to the U.S. and invest through EB 5 programme and settle there as green card holders because of its transparency and accountability.
He underscored the need to select the right partner and right project that would generate needed employment and given them return on investment through EB 5 investor visa.
AP Chambers zonal vice-chairman M. Sudhir proposed a vote of thanks.
