EB5 BRICS and Tasky Associates have officially entered into a partnership that benefits Indian EB-5 Visa investors seeking to immigrate to the United States through investment. EB5 BRICS and Tasky Associates are set to work together to deliver EB-5 financial advice in combination with pre-immigration tax planning and guidance related to the Reserve Bank of India (RBI), Liberalised Remittance Scheme, and the Foreign Exchange Management Act (FEMA).
EB5 BRICS specializes in advising Indian investors seeking to immigrate to the USA through the EB-5 Immigrant Investor Visa Program. “Clients of EB5 BRICS will now be able to obtain professional tax advice and planning prior to embarking on and during their EB-5 visa journey. A recent announcement by the Reserve Bank of India states that the Tax Collected at Source (TCS) on remittances for EB-5 purposes will increase from 5% to 20% in July 2023. More than ever, Indian investors will require professional tax advice if they wish to pursue the EB-5 Immigrant Investor Program.” says Vivek Tandon, Esq., Founder, and CEO of EB5 BRICS. Vivek Tandon is a U.S. attorney, investment banker, and licensed U.S. securities specialist.
The announcement of the 20% tax increase followed India’s Union Budget 2023 last February 1, 2023. The tax increase covers a 20% Tax Collected at Source (TCS) for EB 5 Visa investment transfers from India. The 20% Tax Increase affecting Indian Eb-5 investors is set to take effect on July 1, 2023.
Tasky Associates is an independent firm of chartered accountants that provides audit, business advisory services, tax planning, and Reserve Bank of India (RBI), Liberalized Remittance Scheme, and the Foreign Exchange Management Act (FEMA) guidance to Indian investors. "We are delighted to begin our partnership with Team EB5 BRICS, which is amongst the Top 25 EB-5 professionals globally. The EB-5 program is one of the fastest routes to get a US Green Card. For the applicants, choosing the right partners to help throughout the entire journey is a crucial first step for steering the complex application process which requires careful maneuvering." says Anil Mathpal, Senior Partner of Tasky Associates. Anil Mathpal is a Fellow of the Institute of Chartered Accountants of India, a Law Graduate from the University of Delhi, and a Licensed Member of the Insurance Institute of India.