Invest and obtain US visa: IIUSA, PHDCCI hold awareness programs

Bengaluru: Invest In the USA (IIUSA), the membership association for the EB-5 Regional Centre 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 and tax planning, etc.

The event was conducted across 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 and Trade Fair Division, PHDCCI, addressed 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 US 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 centres based on proposals for promoting economic growth. Aaron Grau 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 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 and Integrity Act of 2022.