A family, composed of the main applicant, spouse, and children under 21 years of age, can qualify for the US Golden Visa by way of an investment of $800,000 in a qualifying government pre-approved real estate project
Families residing in the GCC can obtain their US Green Cards by virtue of the EB-5 Immigrant Investor Programme, which was first introduced by the US government in 1990 as a way to inject foreign capital in the US economy and boost job creation in exchange for US residency and Green Cards for foreign investors, according to a report in arabianbusiness.
A family, composed of the main applicant, spouse, and children under 21 years of age, can qualify for the US Golden Visa by way of an investment of $800,000 in a qualifying government pre-approved real estate project. The investment is returned to the family after approximately five years of benefiting the US economy.
A Green Card allows families to live, work, and freely travel in the United States. The EB-5 programme provides a solid pathway to obtaining US citizenship. The US Golden Visa provides a fast track route for families to pursue the American dream, which is the promise of freedom, prosperity, and access to vast opportunities.
The US Congress modernised the EB-5 programme through passage of new legislation called the EB-5 Reform and Integrity Act (RIA) in March 2022. The RIA implemented a number of positive changes to the EB-5 programme, including but not limited to introducing a new category of reserved US Golden Visas called visa set aside.
This means that applicants such as Indian nationals can benefit from faster processing of their US Golden Visas by submitting their EB-5 applications under one of the new visa set aside categories
The new EB-5 legislation expanded the EB-5 programme through the launch of three new visa categories, called reserved visas or visa set asides. The new EB-5 legislation provides that of the 10,000 US Golden Visas available for the EB-5 programme in any given fiscal year, 10% are reserved for applicants who invest in high unemployment areas, 20% are reserved for applicants who invest in rural areas, and 2% are reserved for applicants who invest in infrastructure projects.
Because the programme places an annual cap on each country, nationalities with large populations, such as Indians, are subject to retrogression under the previous category of unreserved visas, meaning that processing applications for this nationality are slowed down and backlogged due to the large number of applicants. China for example, has a tremendous amount of applicants and to allow all other nationalities the ability to access the visa programme, the US government in turn has slowed down the review of Chinese applications.
With the introduction of the new reserved visa categories, nationalities that had previously been subject to backlogs are no longer facing long wait times. As evident by the November 2022 Visa Bulletin published by the Department of State, visas are currently available for all foreign investors that apply for the reserved visas (i.e., rural areas, high unemployment areas, and infrastructure projects).
This means that applicants such as Indian nationals can benefit from faster processing of their US Golden Visas by submitting their EB-5 applications under one of the new visa set aside categories.
*********************************************************************
Readers
These are extraordinary times. All of us have to rely on high-impact, trustworthy journalism. And this is especially true of the Indian Diaspora. Members of the Indian community overseas cannot be fed with inaccurate news.
Pravasi Samwad is a venture that has no shareholders. It is the result of an impassioned initiative of a handful of Indian journalists spread around the world. We have taken the small step forward with the pledge to provide news with accuracy, free from political and commercial influence. Our aim is to keep you, our readers, informed about developments at ‘home’ and across the world that affect you.
Please help us to keep our journalism independent and free.
In these difficult times, to run a news website requires finances. While every contribution, big or small, will makes a difference, we request our readers to put us in touch with advertisers worldwide. It will be a great help.
For more information: pravasisamwad00@gmail.com
