Here's how Indians can secure a US Green Card with EB-5 Investor Visa Programme

The EB-5 Investor Visa Programme serves as an opportunity for those seeking to earn a US Green Card. It grants permanent resident status to investors who satisfy certain criteria. The visa, which was first introduced in 1990, may also allow the applicant’s spouse and unmarried children under the age of 21 to obtain a Green Card. Here's all you need to know about the investor visa programme:

How does the EB-5 Investor Visa Programme work?

To participate in the programme, the applicant must invest in a US project that generates at least 10 jobs in the country. Investors are guided by asset managers at regional centres recognised by US Citizenship and Immigration Services (USCIS). These RCs provide developers with low-cost funding options. While direct investment is possible, it is best avoided due to the high risk factor it carries, experts told Mint.

“Generally, parents invest in EB-5 for their children either studying in the US or have just graduated. More importantly, it is a very well-defined path to US residency (Green Card) for individuals who intend to build a career in the US post college,” Arindam Sengupta of Edufund told the outlet.

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“Students in US colleges get to do optional practical training or OPT for one to three years after graduation, depending on the type of degree programme. Essentially, they can work for a few years,” the EB-5 consultant continued.

“However, after that they must get an H1B visa to keep working and the H1B system is a lottery with a limited chance of getting a visa even if you find an employer. This is why many HNI parents in India opt for the EB-5 route,” added Sengupta, who runs a wealth management business focused on education.

Under the 2022 investors visa programme, the revised cost of participation is $800,000. However, Indians can remit up to $250,000 per year under the Reserve Bank of India’s Liberalised Remittance Scheme (LRS). There is an added bonus for married couples as they can combine their remittances to reach $1 million by making transfers in March and April.

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The funds can also be transferred to a child’s account in the US as a gift, allowing the child to invest in an EB-5 project, the outlet adds. Once the project is approved, the applicant may apply for a conditional Green Card under Form I-485 or DS-260 if the child is not a US resident.

Meanwhile, the child may also be eligible for a temporary work and travel permit while awaiting the I-526E approval. The applicant can apply for an unconditional Green Card within two years should the project generate at least 10 jobs. Once obtained, the applicant can redeem the investment.

It is important to note that the total cost of participating in the EB-5 Investors Visa Program may increase by an additional $50,000 to $100,000 depending on legal fees. Moreover, the applicant must also pay 20% Tax Collected at Source (TCS) on the remitted funds.

However, the TCS can be adjusted against the individual's tax liability or may be claimed as a tax refund upon filing the Income Tax Return (ITR). Hence, the total cost for the EB-5 program amounts to $1.1 million or (9 crores Indian Rupees), according to the outlet.

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