For those that can afford to make a foreign investment in a business enterprise and are willing and able to manage an entrepreneurial business, taking advantage of the benefits of the EB-5 visa India program is a great idea. It is one of the quickest ways to achieve permanent residency status for yourself as well as your immediate family. In fact, it can reduce the waiting period for a green card by several years.
When your investment plan is approved, you, your spouse, and any children under 21 years of age receive conditional permanent residency. Upon completion of the EB-5 program, you can apply to get your conditional status changed to permanent residency.
Permanent residency status can benefit you and your family in many ways. The rights of permanent residents include:
- The freedom to live and work anywhere in the United States
- Resident access to higher education
- The ability to travel in the United States
- Access to American medical programs
- The protection of all levels of government including state, local, and federal
Emphasis on Education and Employment
For many Indians, the emphasis on attaining EB-5 visa status is for the advantages it will offer their dependent children in the future. As H-1B work visas are harder to attain for those just out of college, Indian families seeking to give their children a future advantage in education and employment in the United States are considering the EB-5 program and emigration from India. The visa will ensure those who hold it the freedom to work in the United States without requiring a corporate sponsor.
Requirements for Participation
In order to achieve permanent residency or green card status in the United States through the EB-5 visa program, you need to have your business investment plan application, the I-526, approved by the United States Citizenship and Immigration Services (USCIS). Right after acceptance of your I-526 application, you and qualifying family members will receive the conditional permanent residency status. You will need to live in the United States and manage your entrepreneurial investment during this time.
By living in the United States, you and your children can qualify for lower cost tuition at higher education institutions. After attaining full permanent residency, you can apply to become a United States citizen after five years.
As a permanent resident, you will have some governmental responsibilities to fulfill. Duties of permanent residents include:
- Filing and payment of all state and federal taxes
- Registry of males from 18 to 25 with the Selective Service program
- Compliance with physical presence requirements and display of appropriate moral character
Be Careful With Your Investment
If you decide to invest in a regional center, choose carefully. Investment immigration attorneys recommend checking the background of regional centers that you are considering. They also advise close scrutiny of any project proposals to determine if they can realistically generate the jobs necessary to get a green card. To help you analyze project plans, consider consulting with a securities representative licensed by the Securities and Exchange Commission.
For many Indians attempting to qualify for an EB-5 visa, the investment, responsibilities, and hard work are worth the chance for a fast track to a green card.