Living in America,’ a 1985 song performed by James Brown, captures Americans’ pride in the country’s progress and prosperity at the time. Working and living in the United States has long been a dream cherished by several global citizens. And, Indians too are not behind in making the US their home. Although, there are many ways to get US citizenship, getting an EB-5 Visa is considered to be the fastest route to settle in America.
The EB-5 visa program provides Indians permanent residency and citizenship in the US. Indians are increasingly seeking permanent residency and green cards through the EB-5 Visa, with a 75% increase since 2019 due to the US government’s renewal of the popular investment program. In 2022, 2.25 lakh Indians chose US citizenship, with 78,284 opting for it, followed by Australia, Canada, and UK. EB-5 Visa demand surged 400% from 2016 to 2019.
EB5-Visa, essentially, requires an individual to invest a specific sum of money in the US and get a green card eventually. Investment in US businesses can be made through Regional Centers, and privately owned economic units with USCIS approval. These centers partner with developers or undertake infrastructure projects, such as hotel projects or mall development.
The EB-5 visa program grants investors a two-year conditional green card, requiring capital investment in a targeted employment area and job creation in the US. Investors can make a direct investment or invest in a US business worth up to USD 800,000 if it is located in a Targeted Employment Area. Alternatively, invest $1.05 million in a business in a high-employment area. In Indian Rupees, the amount of capital required is almost Rs 8.6 crore or Rs 6.4 crore in a targeted employment area (TEA) in the United States. The invested amount can be into new commercial projects or regional centre programs.
With the approval of the I-526 petition, you are entitled to two years of conditional residency in the United States under the Eb-5 visa application process. To become an Eb5 visa holder and a permanent resident of the United States, you must file an I-829 petition before your conditional residency expires. Once the I-829 petition is filed, it takes between 22 and 45 months to obtain a permanent green card.
There are no age, education, or prior business experience requirements for applicants. For Green Cards, family members such as partners and children under the age of 21 may accompany you.
The US EB-5 visa program, also known as the Golden Visa, attracts wealthy applicants seeking permanent US residency and significant investments. The EB-5 visa program not only offers Indians a quicker, simpler, and more secure route to earning a Green Card than other visa alternatives, but it also enables them to invest in projects that support the U.S. economy by creating jobs.
Source : Financial Express
