Mumbai Feb 10 (IANS) A large number of Indians are queuing up to invest in businesses in the US through the EB-5 Investor Visa which assures migration with a quicker eligibility for acquiring the Green Card.
In the past four years or so the number of high networth individuals corporate executives and businessmen opting for the EB-5 visas has nearly tripled with over 350 applications in 2016.
A prominent expert and Managing Director of US Freedom Capital David Gunderson says though the 2017 figures are awaited EB5 -- also known as the "golden visa" -- is gaining huge popularity due to "tightening of other visa categories a more transparent EB-5 process and more Indian HNIs showing appetite for a global footprint".
At present under the EB-5 an Indian is required to invest $500 000 (Rs 3.2 crore) for self spouse and any number of unmarried children he said.
According to latest reports from the US the Trump Administration plans to hike this amount to $920 000 per applicant in the regular category.
"There is no minimum education or income requirements except to prove that the investment amount is legitimately earned from business profession inheritance gift or even a loan against collateral " Gunderson told IANS in a chat recently.
Among various investment options the US Freedom Capital has introduced the EB-5 FD+Green Card scheme for $1 million that offers an eight per cent return -- against the industry standard of 0.5 per cent for the five-year investment period.
"We intend to provide higher targeted returns than an Indian fixed deposit which will allow the investors get Green Cards for self-and-family plus an attractive return on investment " Gunderson said. He said Freedom Capital s proposal is virtually tailor-made for Indians who prefer smaller projects with low risks but high yields.
"The eight per cent returns are not guaranteed since we follow the Securities and Exchange Commission (SEC) guidelines. But US Freedom Capital usually offers higher yield returns a carefully structured risk mitigation with our strong team of professional experts modifying the structure of conventional investments to qualify for the EB-5 Investor Visas benefits " Gunderson explained.
The team includes US ex-Ambassador to Spain Eduardo Aguirre who also headed Bank of America s International Private Banking and was later appointed by former US President George W. Bush as Director US Citizenship and Immigration Services (USCIS).
Also there is Michael J. Petrucelli a former Foreign Service Officer with the US Department of State and then Acting Director of USCIS besides being a registered investment banker and investment advisor.
The investments under this (FD+Green Card) are made in core real estate projects parallel to the investments in US Freedom Capital Funds with jobs created to fulfill nts.
However a large number of sexual harassment cases at workplaces in India are not reported.
According to a 2017 survey by the Indian National Bar Association of the 6 047 participants 38 per cent said they had faced harassment at their workplaces but 69 per cent of the respondents did not complain about it.
The main reasons for not reporting the sexual harassment cases include fear of losing jobs stigma and long-winding procedures in the legal battle for redressal of the complaints.
(Somrita Ghosh can be contacted at somrita.g@ians.in
--IANS
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