Hyderabad: The United States of America (US) is deemed by millions across the world as the veritable land of opportunities and for scores of them, landing a chance to get into the ‘New World’ is nothing short of a dream come true. And there is the added lure of earning in dollars, the world’s most revered reserve currency.S 5-year lock-in period for the $500k investment
- Additional processing expenses of $79K
- Investors can get Greencard in 18 months
- Many Indian HNIs showing interest in this visa
But the arrival of maverick Donald Trump into the White House, the seat of the US Government, changed the fortunes for worse of the ‘foreigners’ dreaming of working in the North American country as the billionaire real estate tycoon declared a war on employment-based immigration and tightened screws on H1-B visas, the popular route to a job in the US.
But those who are hell-bent on settling in the US have no reason to worry if they have $500,000 (nearly Rs 3.22 crore) for investing in the US. They will get a royal entry into the US through EB-5 US Investor Visa Programme and can get conditional Green Card in just 18 months. These investments carry a five-year lock-in period and investors will get permanent Green Card by the time the lock-in period ends. Thereafter, they can take back their investments.
But this programme doesn’t come free though as it entails additional expenses of $79,000 (Rs 50.86 lakh) towards administration, legal and filing expenses. “The EB-5 Immigrant Investor Programme provides Green Cards and permanent US residency, the direct path to US citizenship, to foreign investors and their immediate family members upon making an investment in a US business that creates at least 10 American jobs,” Suresh Rajan, Chief Executive Officer of US-based LCR Capital Partners, told The Hans India from the US.
Founded 2012 by Rajan and two others, LCR Capital is raising $200 million through the EB-5 programme for The Surf Club Four Seasons Hotel & Residences, a new luxury beachside hotel that has just come up at Miami, Florida, in March this year. “The EB-5 Visa Programme has witnessed a steady growth in Indian applicants. Currently, we are working with more than 150 clients globally on their EB-5 requirements, with more than 50 from India,” he said.
LCR Capital entered the Indian market in December 2015 and its team toured the country at least sixteen times since then. “We visited New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad and Cochin. We see real opportunity for growth in the country. Indian market is very different from China. The US EB-5 industry is not aware of the potential opportunity for it outside China, currently the biggest market for the EB-5 capital. In 2009, the Chinese market generated EB-5 capital worth $600 million. The amount zoomed to $8 billion last year,” Rajan explained.
He further said that India has potential to become next China for the EB-5 capital. Thousands of people around the world use Employment-Based Fifth Preference Category (EB-5) visa route every to migrate to the US. Launched in 1990, the EB-5 Immigrant Investor Programme allows eligible immigrant investors to obtain the US visa by investing at least $1 million in a business in the US that will create 10 direct or indirect jobs. However, most immigrant investors who use the EB-5 programme invest in a targeted employment area (TEA) – a rural area or area with high unemployment which lowers the investment threshold to $500k.