GLOBAL INVESTMENT IMMIGRATION SUMMIT 2020 – IIUSA AND BLS GLOBAL: AHMEDABAD, INDIA
Mona Shah & Associates Global (MSA Global) were delighted to speak and sponsor the Global Investment Immigration Summit 2020 (“GIIS”) organized by BLS Global in partnership with IIUSA on February 22nd at the Crowne Plaza City Centre, Ahmedabad, India.
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Due to popular demand for global citizenship, this was the second GIIS event held in Ahmedabad India. The city is one of the top performing wealth markets in the world (on both a total wealth growth and HNWI growth basis), with Ahmedabad listed as an emerging wealth hub in India.[1] The one-day networking and educational event hosted programs from the U.S., the U.K., Canada, Australia, Grenada and other Caribbean countries.
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The success of the conference certainly gave credence to the beloief that the new regulatory changes (specifically the increase of the investment amounts from $500,000 & $1M to $900,000 & $1.8M) had not dampened the EB-5 market in India. The U.S. is the final destination for Indian nationals (the Land of Dreams and Opportunities) and the EB-5 program is still one of the fastest ways for Indian nationals to apply for the green card.
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MSA Global’s Rebecca Singh, Esq. moderated the IIUSA, “EB-5 Experts” panel in the afternoon, providing updates to the attendees on the regulations that came into effect on November 21, 2019. The panel discussed pertinent issues such as changes in the project offerings. Regional centers are now catering to individual investors by developing smaller projects versus the large-scale glamourous projects seen in the past. Although too soon to determine what the changes will actually bring, the EB-5 market is seeing more equity deals or stand-alone projects as investors are concerned with the increased investment amount and the change in the targeted employment (“TEA”) definition. Projects located in major cities will now be at the $1.8M investment amount. There was the general consensus that the new changes are welcomed, as investors will see better quality projects and players in the EB-5 field. We also expect increased oversight regulations coming later in the year, adding an additional layer of protection.
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Rebecca also spoke on the morning panel, that discussed alternative gateways to the U.S. and the benefits of the E-2 visa. This visa has increased in popularity among Indian nationals, who want to enter the U.S. quickly by first obtaining Grenadian citizenship (as India does not have a treaty of commerce and navigation with the U.S.). Investors can also structure E-2 businesses to an EB-5 project if the ultimate goal is to seek the U.S. green card. MSA Global urges investors to conduct due diligence and seek advice to determine the right path for the family.
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If you missed MSA Global at this event, please visit Rebecca as she will be in Mumbai until February 27th. Also join Mona Shah, Esq. in London at the Immigration Industry Association (“IIA”) Annual Conference on March 06, 2020 to discuss The Business of Immigration.
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[1] https://www.businesstoday.in/latest/trends/330000-high-networth-individuals-hold-48-per-cent-of-india-private-wealth-report/story/284259.html
