The US has seen a 150% increase in the number of Indian applicants for its EB-5 immigrant investor program over the past few years. The scheme is becoming increasingly popular with high net worth Indians who want to move to America in the belief that America can offer high-quality tertiary education to their children.
Statistics show there has been an upsurge of about 150% in the applications for EB-5 visas from India over the last few years. In 2014, the number of EB-5 applications filed from India went up to 96 from 38 in 2013. The applications are mainly from high net worth individuals and professionals.
The EB-5 immigrant investor program was introduced to stimulate the American economy through capital investment sourced from abroad. It requires foreign applicants to invest $1 million in American enterprises that create or sustain a minimum of 10 full-time jobs for US workers within two years of the immigrant investor taking up residence in the country. However for new enterprises in remote or targeted areas, the investment requirement is $500,000.
The investor’s spouse and unmarried children under the age of 21 years are also given immigrant visas, and as permanent residents, they can live and work anywhere in the US.
The EB-5 program provides an opportunity where they can get green cards for their children even before applying to American universities. This allows the children to apply as domestic applicants where they are eligible for instate or domestic tuition fee and access to student loans.
However, investors are advised to proceed with caution when it comes to making the investment. Though there are almost 500 regional centers in the US, many are non-functional and not reliable.
Most of the 10,000 EB-5 visas available annually are taken up by investors from China, with Indian interest being relatively more muted. However, in comparison to investor immigration programs available in other countries, the US EB-5 is often seen as more beneficial and flexible, and as a result Indian interest in the scheme is expected to grow.
Source: economictimes.com