This year, March welcomed some significant developments in the EB-5 visa program, which has been long overdue since its inception. The EB-5 Reform and Integrity Act, with the other appropriations, was approved on March 10 by the Congress of the U.S. And some of the most noteworthy developments which have reauthorized the entire program are :
- Increased investment amounts to $800,000 for Target Employment Areas and $1,05,000 for Non-Target Employment Areas;
- Lining up new investment projects in rural areas, infrastructure projects, and high unemployment areas;
- Protection of new and existing investors.
The U.S. issues up to 10,000 places for EB-5 visas, and it has proved to be extremely beneficial to qualified investors, especially in terms of:
- Easy access to permanent citizenship.
- Freedom to travel and inhabit any part of the USA.
- Liberty in any job sector without employment and sponsorship reservations and restrictions.
- No legal curtailment for the spouses and automatic green card grants.
- International flexibility in movableness.
- Employment access without H-1B work visa.
- Investments, especially in real estate projects, can be obtained by collateral to lower the downside risks.
- In case of national tension or conflicts, the person with an EB-5 visa can conveniently shift to the U.S. sans delay.
- Allowance to apply for citizenship of the USA precisely after 5 years of established residency in the country while holding onto the Indian lineage.
Since the beginning of EB-5 in 1990, countless entrepreneurs and money-makers have been attracted to foreign investment in the USA. In 2020, there is a noteworthy increase in demand in India for the EB-5 as the investors wish to expand internationally in the USA, secure the future of their families, gain U.S. citizenship, and be a part of more employment opportunities.
With the new developments in the visa program, it can be expected that the backlogs in the application processes will be taken care of. Thereby engaging more investors with more investments in the projects focusing on the rural areas, infrastructure-based business plans, and areas lacking employment opportunities.
This will provide more opportunities for young, forthcoming, and potential employees to find better establishments with a brighter scope, putting them in comfort if the investor in question shares the same nationality. Therefore, this will result in more fortified international relations between the two nations, paving paths for momentous growth in the upcoming days.