The EB-5 visa is gaining momentum again in the USA. Indian investors who wish to have permanent residency in the USA are particularly looking for the visa program.
Now questions must come to your mind, what is the EB-5 visa all about and what is the functionality of it? Well, the visa program has been started as a pathway to permanent residency in the USA in lieu of investment of a significant amount in the US businesses.
Although, in the last few decades, the visa program lost its importance, with the introduction of the EB-5 Reform and Integrity Act (RIA) Act in 2022; the visa program has gained prominence again.
The recent changes in the Act included extending the minimum investment period to 2 years and increasing the minimum investment amount to $900,000 for Targeted Employment Area (TEA) projects and $1,800,000 for others.
The change is already seen from 2023. As per the USCIS (U.S. Citizenship and Immigration Services) report, more than 2,350 I-526 applications from Indians have been filed for EB-5 visas. Most of the applications are at present waiting for the visa dates.
At present, 20,000 EB-5 visas are available for foreign investors. In 2023, 676 Indian investors were granted the EB-5 visas.
This is overall news about EB-5 visas in the USA and its garnering interest among Indians.
