The United States EB-5 visa program, also known as the "Golden Visa," is attracting a growing number of wealthy applicants across the globe. The program offers a path to permanent US residency for foreign investors who make significant investments and create at least 10 permanent jobs in the US. The investor programme, started in 1990, was recently revised after being on hold for almost a year, following legislation passed by the US Congress in March of this year. Following this, the minimum investment amount was increased. According to investment migration consultant U.S. Immigration Fund (USIF) there has been a dramatic increase in the number of Indian investors looking into the EB-5 visa program as an alternative for student visas and H-1B visas.
The EB-5 visa program was created by the US Congress in 1990 to stimulate the economy by attracting foreign investors who would create jobs and invest capital in US businesses. The program offers permanent residency to investors, their spouses, and unmarried children under 21, in exchange for investing large sums of money in a US business and creating at least 10 permanent jobs.
In 1992, the Immigrant Investor Program, also known as the Regional Center Program, was created to set aside EB-5 visas for participants who invest in commercial enterprises associated with regional centers approved by the USCIS. The program also allocates a portion of the EB-5 visa quota to investment in rural areas, high-unemployment areas, and infrastructure programs.
Following the 2008 financial crisis, EB-5 visa scheme became a major tool for the US administration to bring foreign investors to the country.
The EB-5 visa program, administered by the U.S. Citizenship and Immigration Services (USCIS), provides a permanent residency option to foreign nationals who invest a minimum of $800,000 in a new commercial enterprise that creates at least ten jobs for U.S. workers.
Nicholas A. Mastroianni, President and CMO, US Immigration Fund (USIF), said, “Although the minimum investment requirement for the EB-5 program has recently been raised, the program has continued to gain popularity in recent years."
Indian investors, in particular, have shown significant interest, with demand for EB-5 visas from India surging by 400% between 2016 and 2019. In 2022, the number of applications filed by Indian investors reached 1,381, marking a substantial 75% increase from 2019 and indicating a persistent upward trend in the program's appeal. He added, "U.S. Immigration Fund has also taken a significant stride to help investors by introducing the leading EB-5 Investor Financing Program, designed to make the program more accessible and affordable for investors. This groundbreaking initiative now allows individuals to participate with an upfront investment of only $500,000 USD."