US roadshows in India to attract $65 million

New Delhi: The US government is looking to attract investment worth $65 million through a roadshow in April from Indian investors who are willing to become permanent residents there.

Under its US Citizenship and Immigration Services EB-5 Investment Immigration Program (USCIS EB5), America wants to attract retail investors with investment capacity of at least $500,000 per investor to fund projects.

“We are trying at around 120 investors from India … in terms of dollars that works out at about $65 million,” said Mark Hesemann, managing director of NYSA USA LLC, the company that represents projects approved by the US government.

To attract the investors, the US Department of Commerce alongwith immigrant investors association—Invest In the USA (IIUSA)—will organise a road show in Mumbai, Bangalore and Delhi, between 7-11 April.

“Exhibiting at the roadshow will be economic development organisations representing states and municipalities across the US with a sector focus including manufacturing, healthcare, pharma, biotechnology, ICT, energy and green energy, FMCG, and food and beverages,” IIUSA said in a conference in New Delhi.

Created in 1990, the EB-5 programme is US government’s immigrant investment facility designed to benefit the American economy by attracting investment from qualified foreign investors.

The green card holdership under USCIS EB5 will include the applicant, spouse and all unmarried children under the age of 21 at the time of application.

“Typically, in our projects, the entire investment is returned within five years of release from escrow plus 0.5-2 per cent per annum simple interest. The projects and NYSA will make periodic reports to all investors as to project performance,” NYSA said.

PTI