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The USA EB-5 Program Extended until January 19, 2018

December 2017, 27
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USA-EB-5-Program
The US House of Representatives extended the EB-5 Visa until January 19, 2018, bypassing the Senate amendment to HR 1370 (which amended the Homeland Security Act of 2002). This measure will extend to Continue Appropriations for government services /programs. It was widely welcomed by many immigration consultants as well as service providers.

An expert pointed out that the present administration was active in bringing great changes to the immigration laws.  Presently India is in the sixth position in receiving EB-5 and with more understanding about the programs; EB-5 applications emanating from India will increase. This investor program permits entrepreneurs, along with their spouses and children not married and aged below 21 years, to apply for a Green Card, when they meet two conditions:

Investing in a commerce/ business related project in the USA; and, having a plan for creating/preserving ten permanent/full-time jobs meant exclusively for competent US workers.

It commenced in 1990, for stimulating the US economy by job creation and capital investment plans managed by overseas investors.

The investor must invest $1 million in the US. In case of investment in a high-unemployment/rural area, the minimum investment needed is $500,000. Reports confirm that the EB-5 applications made by Indian entrepreneurs have increased three times during the last three years. This happened regardless of a high denial rate among Indian applicants touching 34% in the last year owing to poor documentation and improper selection of projects.

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