|1.||India not getting NATO ally like status|
|2.||Immigrant Investor Visa Programme, EB-5|
|3.||U.S. EB-5 applications to become dearer|
India not getting NATO ally like status
Immigrant Investor Visa Programme, EB-5
U.S. EB-5 applications to become dearer
- The United States has decided to effect a steep increase in the application fee for its Immigrant Investor Visa Programme, EB-5.
- Although a hike was under consideration since January 2017, the U.S. administration kept pushing the decision, at least half a dozen times, until the U.S. Office of Management and Budget (OMB) took a final call on June 29, 2019 after it completed its review of the EB-5 modernisation regulations.
- Under the revised scheme, the application fee for projects under Targeted Employment Areas, will go up to $1.35 million from the current $500,000.
- The standard minimum investment will also rise to $1.8 million from the existing $1 million.
- The date of the new fee implementation and details of the final regulation will be known in the next 60 days through a publication in the Federal Register.
- As of now, EB-5 could probably be the quickest legal route available for immigrants to get Green Card and permanent residency in the U.S.
- India has a large number of families and entrepreneurs who are keen to take this route, especially when H-1B visa is under stringent scrutiny.
- However, the fee hike might cool off the investor interest for EB-5 adoption, opined immigration professionals.