Concerns raised over reduction of Indian immigration to USA if US govt doubles min investment bar
Hyderabad, June 20, 2019: Immigration experts have expressed concern that very soo the doors for the Indians who wish to immigrate to USA may be almost closed, if in case the American government double's its bar on minimum investment.
According to Vivek R. Rao, an EB5 expert, investment and immigration consultant, as the US government is contemplating to double the minimum investment bar, this change in the policy of EB5, which is likely to come into force from this October will have an adverse effect on Indians.
" If US Govt raises minimum investment required from present $ 5,00,000 to $ 1.35 million, may reduce Indian applicants by 80 to 90%" says Vivek R. Rao,
Mr.Rao was in Hyderabad in connection with a seminar “EB-5 Business Gateway to the US, US Immigration” at Grand Kakatiya on 22nd June said interacting with the media that it might also pose another challenge to Indians, issues from the regulatory body from RBI.
EB-5 is an Immigrant investment program is an alternative way for some wealthy Indians to live their American dream. Those who, otherwise don’t have a chance to get an American Green Card, until now found it a good opportunity as it enables people to migrate to the US through a government-sponsored 'invest in the US and get a green card scheme'. In other words, it is a "paid invitation" for non-Americans to invest and live the 'American Dream'.
According to the EB5 investment program, the money will be invested in real estate, construction and other sectors to create jobs there. The money invested will also be returned to the investor after a stipulated period of time. The investor who gets a Green Card can do any work in the US. There is a cap. Only 10,000 EB5 visas can be issued every year. The cap for each country 700.
So far is fine, but, the big concern for India now is that the US Government plans to increase the investment from $5,00,000 to $1.35million from next fiscal. Trump administration thinks that the present limit is very low compared to other countries. The fees for a similar programme in Canada is $1 million, Australia is 4 million and in the UK $2 million. .Higher EB-5 investment requirements may reduce the number of Indian going for it. Indian administration may raise their eyebrows as such a huge investment going abroad is not so good for the nation. There may be regulatory issues from RBI observed Vivek R. Rao, an EB5 expert who has over 4 years of EB5 experience and vast knowledge of the intricacies of the EB5 process.
Throwing light on the consequences on Indians, how it affects Indians chances of getting EB-5 Visa etc and others, Rao, India head and Director of MCFI—Maryland Center For Foreign Investments, LLC said there were a lot of Indian business professionals willing to invest or start a new business in the US. Indian Children studying or working in the USA and wanted to settle in the USA. There are many Medicine Students aiming to pursue MD or any higher education in the USA universities. An equally good number of Indian Individuals from India would like to settle in the USA. Any major changes in the policies will adversely affect the interests of these individuals, hence there are greater consequences, he added.