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- Indian families and individuals who have been patiently waiting for their US Golden visa applications to be reviewed in the EB-5 backlog can now look forward to an early approval of their applications.
- The term "Golden Visa" primarily refers to a residency-by-investment program offered by various countries, including the United States.
Here's an overview of the concept, focusing on the U.S. EB-5 Immigrant Investor Program
- The "Golden Visa" generally refers to a residency program that allows foreign investors and their families to obtain a visa or residence permit by making a significant investment in the host country.
U.S. EB-5 Immigrant Investor Program:
- Investment Requirement: The EB-5 program in the United States requires a minimum investment of $1.8 million (or $900,000 in a targeted employment area) in a new commercial enterprise that creates or preserves at least 10 full-time jobs for qualifying U.S. workers.
- Job Creation: Investors must demonstrate that their investment leads to the creation or preservation of jobs in the U.S. This is a key requirement for obtaining a Green Card.
- I-526 Petition: Investors initially file Form I-526 to petition for immigrant status under the EB-5 program. This form includes details about the investment, the business plan, and job creation estimates.
- Conditional Green Card: If the petition is approved, investors and their qualifying family members receive conditional U.S. Green Cards, allowing them to live and work in the United States.
Conditions and Permanent Residency:
- Two-Year Conditional Residency: Initially, investors receive conditional residency, valid for two years.
- I-829 Petition: Before the end of the two-year period, investors must file Form I-829 to remove conditions on their Green Card. This involves demonstrating that the investment has led to the creation of the required jobs.
Benefits of the U.S. Golden Visa:
- Residency in the U.S.: Successful applicants, along with their immediate family, can live, work, and study anywhere in the United States.
- Path to Citizenship: After maintaining permanent residency for five years, investors may be eligible to apply for U.S. citizenship.
Q. The term 'US Golden Visa' is often associated with a specific immigration program. Consider the following statements regarding the US Golden Visa:
1.The US Golden Visa is a program designed exclusively for entrepreneurs seeking to establish new businesses in the United States."
2.The primary investment threshold for the US Golden Visa program is $1 million, regardless of the location of the investment.
Which of the statements above is/are correct?"
A. Only 1
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2
Answer: D. Neither 1 nor 2