The EB5 Visa Program, initiated by the US government in 1990, has garnered significant interest from Indian investors seeking permanent residency in the United States. This investment-based visa program requires foreign investors to make substantial investments, typically USD 800,000, in US businesses or real estate projects that generate a minimum of 10 permanent jobs in the American economy.
Over the years, India has witnessed a remarkable surge in EB5 Visa applications, with numbers soaring from approximately 750 in 2019 to over 10,000 by 2022. This surge can be attributed to the program’s appeal as an alternative to student visas and H-1B visas, offering a quicker adjudication process and promising pathways to US citizenship.
Key players in the EB5 industry, including U.S. Immigration Fund, CMB Regional Centers, EB5 United, and FirstPathway Partners, are actively showcasing their EB5 projects and investment opportunities at prominent events like the IREX Residency & Citizenship Conclave 2024 in Mumbai. This event brings together leading regional centers, EB5 law firms, and experts to educate potential investors about the program’s legal intricacies and investment benefits.
Speaking on the resurgence of interest in the EB5 program, Matt Hogan, Vice President of Project Development at CMB Regional Centers, highlighted the program’s success in securing project approvals and returning substantial capital to investors. Similarly, Brennan Sim of EB5 United emphasized the program’s revitalization and the company’s commitment to delivering green cards and preserving investors’ capital.
India’s growing prominence as the second-largest market for EB5 in Asia underscores the program’s allure among Indian investors. Nicholas Mastroianni III, President of the U.S. Immigration Fund, expressed enthusiasm about showcasing premier EB5 projects at the IREX Conference, inviting investors to be part of groundbreaking developments in the United States.
The 17th edition of the IREX Conference, scheduled for April 19th and 20th, 2024, at The St. Regis, Mumbai, will serve as a focal point for international real estate investment and immigration by investment. With participants from over 15 countries and a diverse range of investment opportunities, the conclave aims to facilitate fruitful engagements between investors and industry stakeholders.
Source: MSN
