Invest In the USA(IIUSA), the membership association for the EB-5 Regional Center industry, in partnership with PHD Chamber of Commerce and Industry, commenced a series of educational events in India for cohesive knowledge-building sessions about the U.S. investment/EB-5 immigration process, project due diligence, and financial & tax planning,etc. The event was conducted across the states of Delhi, Mumbai, Hyderabad, and Bengaluru in May and June. McKenzie Penton, Director of Events and Business Development, IIUSA, Aaron Grau, Executive Director, IIUSA, and Mayank Chhatwal, Secretary, International Affairs & Trade fair Division, PHDCCI, address the press conference on IIUSA EB-5 Passport Series: India
The EB-5 program affords foreign nationals and their spouses and unmarried children under age 21 the ability to obtain a U.S. visa based upon a minimum investment in an economic development enterprise that creates or retains a specified number of jobs. The US EB-5 Immigrant Investor Program requires that a foreign individual invests in a new commercial enterprise that is associated with government-approved regional centers based on proposals for promoting economic growth. Aaron Grau, Executive Director, IIUSA, said, “IIUSA is representing the EB-5 regional central industry and we are very pleased to work with PHD Chamber and we are here to educate potential investors about the program.”
According to the latest findings by IIUSA, between 2016 and 2019, demand for EB-5 visas, which give candidates a straight road to US citizenship, increased 400 cent percent in India. Additionally, Indian Nationals held the biggest number of EB-5 Immigrant Investor applications in the October-December and April-June quarters for the fiscal year 2019.
Aaron Grau, Executive Director, IIUSA, said, “The partnership that we have with PHD Chamber of Commerce and Industry is invaluable. The EB5 program is truly an economic development which will help in creating jobs for Indian workers.” He adds, “The program is back on track for a 5-year stint”.
The events were a deep dive into topics such as the immigration process, time, and specific considerations for Indian investors (taxation, source of funds, currency transfer, etc.). The events included were expert panel discussions on the new world of EB-5 in light of program changes through the EB-5 Reform & Integrity Act of 2022. Aaron Grau, Executive Director, IIUSA, said, “The association with organizations like PHDCCI and others in the US we are making the case for what benefits the program brings to not only the United States but also to the investors.”
“At a time when Indian work-based visa holders in the United States are still feeling the pressure from strict immigration restrictions, one type of visa has grown in favor. The EB-5 or investor visa which had few takers in India due to its expensive investment is now considered a very effective path to permanent citizenship in the USA. With the new EB-5 reauthorizing stature coming into effect in March 2022, it is important to shed light on the new trends in EB-5 investor markets. During the events, we fostered an ecosystem allowing all our attendees to garner in-depth knowledge about the program and help their pursuits of US immigration and investments,” said, Aaron Grau, IIUSA Executive Director.
After the market presentations and expert panel discussions, the platform was open for live Q&A sessions to engage the audience and address concerns or confusion about the EB-5 visa program. The sessions created an opportunity to build strong networks with their peers and industry leaders.
The IIUSA India series was sponsored by industry stalwarts such as Ajmera Law Group, Atlantic American Partners, CMB Regional Centers, Davies & Associates, EB5 Capital, EB5 New York State, EB5 Affiliate Network, EB5 marketplace, First Pathway Partners, FRR Immigration, Meyer Law Group and Miller Mayer.