|
GaramChai.com
>> GaramChai.com
Features Achieve >> Articles
We
are constantly on the lookout for articles of interest to
feature on GaramChai.com. Please mail us articles you would
like to see featured and we will be glad to oblige.
Got
2 cr to spare? Get a Green Card
MUMBAI:
If you still haven't heard of the 'EB-5' visa category, you
could be losing a golden opportunity. The EB-5 visa could
be your ticket to obtaining permanent residency in the United
States within a very short time.
The only catch is that you have to cough up a minimum of $500,000
(Rs 2.3 crore). So, if you can afford to invest half a million
dollars or more, you can cut the long waiting period for your
Green Card. Here's how.
The EB-5 is a job creation visa . It is available to investors,
either alone or with their spouses and unmarried children.
Eligible applicants are those who have invested, or are actively
in the process of investing, the required amount of capital.
They must further demonstrate that this investment will benefit
the US economy and create 10 full-time jobs for qualified
persons within the US.
The investment is usually $1m (Rs 4.6 crore), but is relaxed
by 50% if the investments are made in a 'targeted employment
area' or a rural area in the US.
There are 10,000 investor visas (EB-5) available annually
and half of these visas are reserved for investments in regional
centres, as described by the Citizens and Immigration Services.
The regional centre is usually a 'targeted employment area'
or a rural area. You can also make these investments by taking
a loan.
Is an Indian eligible to apply for this class of visa? Although
there are no stated restrictions on Indian citizens, one prospective
hurdle could be investments. If you don't have the ability
to invest at least $0.5m, this route is not for you.
But, if you are willing to invest, as an Indian or an Indian
entity, special permission must be obtained from the Reserve
Bank of India (RBI) or the Foreign Investment Promotion Board
(FIPB) for these investments abroad.
But, a word of caution for prospective applicants. In order
to deter fraud, immigrant investors, their spouses and dependent
children are subject to 'conditional' permanent residence
for a two-year period.
After two years, the entrepreneur has to produce documents
as proof that investments were continuously maintained during
the conditional residence period to remove the 'conditional'
tag.
If you've been looking to immigrate to the US, you know by
now, that it could take several years to gain US residency
(Green Card). It may worth your effort to check out the EB-5
visa route.
HARESH SONEJI TIMES NEWS NETWORK [Economic Times]
|
