An increasing number of Indians are turning to EB-5 visas for resettlement in the US even as there are concerns of job cuts, as per United States Citizenship and Immigration Services (USCIS) data.
In order to obtain an EB-5 visa, which holds parity with a Green Card, individuals are required to invest a minimum of $800,000 towards creating a minimum of 10 job opportunities.
Indians are reportedly collaborating to pool funds and invest in real estate projects to fulfil this requirement.
"We can take 20 investors with $800,000 each, to collect $16 million. The sum will then be lent to a developer who's building a $50 million rental apartment, building, or a hotel. And the investors don't have to buy it, they don't have to manage it and don't have to employ any people, it's a passive investment and they make a return through interest," said Nicholas A Mastroianni III, president and chief marketing officer of US Immigration Fund (USIF), a company that facilitates EB-5 visas.
Read more at: https://economictimes.indiatimes.com/nri/migrate/more-indians-eyeing-eb-5-visas-to-resettle-in-the-us/articleshow/100082324.cms
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