EB-5 visa: Indian investors rush applications before program shuts down
0 people likes this
Deep-pocketed investors in India are scrambling to try and get their foot in the door for an EB-5 visa as there is concern that a proposed Bill on Capitol Hill might spell the death knell for the program which allow individuals to ‘buy’ a Green Card for their own self and immediate family members, in exchange for hefty investment in the United States.
At present the minimum investment required for an EB-5 visa is $500,000. A separate proposal from the administration also wants to raise the investment levels to $1.3 million-$1.8 million. However, of even more concern to investors who were planning to file for the visa, is a bill introduced in Congress which intends to shut down the program, plagued as it is by numerous scams and legal hurdles.
Davies & Associates, LLC, a leading US law firm based in New York City, representing a significant number of Indian EB-5 visa investors has reported a record breaking spike in filing Indian EB-5 petitions in 2017. This hike is attributed to concerns about a Bill that would terminate the EB-5 program if passed.