Hyderabad: A state level seminar on “US – Green Card” focused on ‘Business Immigration Getting a Green Card through Investment: EB5 Immigrant Visas’ started off on Thursday at Federation House, Hyderabad.
The Seminar was inaugurated by Co founder of the Green Card Fund Gregory Wing. FAPCCI president V S Raju, Green card Fund India Operations Managing Director Satish Kholey and others were also present.
Inaugurating the seminar, Mr Gregory Wing invited Indian investors and businessmen to get the US Green Card and Citizenship through their investments in reputed industrial sector in the US.
He said that the US now started encouraging foreign nationals to become US Citizens and US also offering many Visa and Citizenship programmes and business opportunities’ to foreign investors. The US EB-5 Business Visa offering US Green Card for entire investors family and US Citizenship in later years.
Mr Gregory Wing explained his keynote address is that the Foreign investors may qualify to obtain permanent residence in the United States, ‘green cards’, through an investment of US $500,000 thousand – $1million dollars.
The amount of investment capital required depends on various factors, such as investing in a completely new enterprise, existing enterprise, troubled enterprise, or an economic development project of a regional centre.
Multiple investors may invest in the same enterprise at the inception of the enterprise. The meaning of ‘capital’ is defined in case laws and the Immigration and Naturalization Act. Certain loans, mortgage agreements, promissory notes, security agreements may be included in the minimum capital requirement while others are not. It is critical to understand the difference.
Mr Gregory explained the privileges for investors, is that the investor qualifies for a green card through investment, then his/her spouse and children under age twenty-one may get green cards as accompanying relatives.
“He may live anywhere in the US and stay as long as his desire and he may travel in and out of US after he has held Green Card for at least five years, then the investor along with his family can apply for US citizenship,” he said.
He also said that the funds for the investment must come from a lawful source. Lawful sources of funds include: earned personal income, profits from the sales of a property, stocks or bonds, profits from business, a loan secured by personal assets of the immigrant investor, business transactions, gifts, and inheritances.
To prove the source of investment funds, USCIS requires five years of tax returns, five years of bank records, proof of ownership in any businesses, financial statements for each business, and business licenses. The idea is to present a track record of an honest course of dealing.
“If your capital came from a specific transaction, such as sale of a house, inheritance or gift, you must prove the transaction occurred by providing an official document, such as a closing statement or contract, or other official documents,” the dignitary said.
Managing Director, India Operations – Green card Fund Satish Kholey explained the investment opportunities for Indian investors.
FAPCCI is working closely with Indo-US bilateral trade is set to touch USD 100 billion in the next two-three years.
In 2010 trade between India and its biggest trade partner stood at USD 50 billion today. In the last fiscal India exported USD 30 billion worth of goods and services to US against importing USD 20 billion from the US said FAPCCI president VS Raju. (INN)