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Residency by Investment

Indian Investors Flock Westward: Residence by Investment Sparks Interest

In recent years, a notable shift has emerged in the investment landscape of India, as an increasing number of savvy investors set their sights on the West. This newfound interest can be attributed to the rising popularity of residency by investment programs offered by several Western countries. These programs provide a unique opportunity for Indian investors to obtain permanent residency or citizenship by investment in a foreign nation by making substantial financial contributions. The reasons behind this trend and exploring the factors driving Indian investors westward are explored.

 

Economic and Political Stability:

One of the critical factors enticing Indian investors toward Western countries is their stable economic and political environments. Uncertainties surrounding domestic economic policies, geopolitical tensions, and bureaucratic hurdles in India have led many wealthy individuals and business tycoons to seek alternative avenues to safeguard their assets and secure a better future for their families. Western nations, known for their robust legal systems, transparent governance, and predictable economic growth, present a haven for long-term financial planning and ri

Source: Economic Times

In 2020, 18 million Indians were residing outside of their nation of birth, according to the graph above. The sizable diaspora of Indians is spread among Saudi Arabia (2.5 million), the United States (2.7 million), and the United Arab Emirates (3.5 million). Australia, Canada, Kuwait, Oman, Pakistan, Qatar, and the United Kingdom are among other nations that have considerable populations of immigrants from India.

 

Diversification of Assets:

Residency by investment programs offers Indian investors an attractive option to diversify their asset portfolios across international boundaries. By acquiring property or investing in local businesses overseas, investors not only benefit from the appreciation of foreign assets but also gain access to diverse markets, industries, and currencies. This diversification acts as a protective measure against economic downturns or fluctuations specific to India, ensuring financial stability and enhanced wealth preservation.

 

Global Education and Lifestyle:

Western countries boast prestigious educational institutions that cater to various disciplines, offering a broader range of opportunities and experiences. Access to quality education and an enriched lifestyle in these countries motivates Indian investors to pursue residency through investment options. A wonderful alternative would be Malta Citizenship by Investment, for instance, given the country’s 2021 literacy rate was 94.94%, up 0.44% from 2018. Malta’s 2018 literacy rate was 94.5%, up 1.2% from 2011. This shows a constant increase.

 

Business Expansion and Market Access:

For Indian entrepreneurs and business owners looking to expand their ventures internationally, residence-by-investment programs provide a strategic pathway to access foreign markets. With a GDP of over $906 billion, Turkey has the 19th-largest economy in the world. It is a participant in the G20 and the OECD, and it is a significant provider of ODA. Investors are subsequently drawn to Turkey’s Residency by Investment.

 

Freedom of Movement and Travel:

Another significant attraction of residence by investment programs is the freedom of movement they offer. Indian investors can travel visa-free or with ease to multiple countries, thanks to the diplomatic relationships their new resident or citizenship by investment status affords. This global mobility facilitates international business ventures, leisure travel, and networking, making it an alluring prospect for those seeking more extensive global connections.

Source: Passport Photo

 

The above maps show that 21 countries allow Indian citizens to visa-free destinations, 30 countries allow Visa-on-arrival, 50 countries allow for e-visa and 105 countries need visa issuance.

 

Tax Planning and Wealth Management:

Western countries often provide more favorable tax regimes and wealth management opportunities than India. By attaining residency or citizenship by investment in these countries, Indian investors can optimize their tax liabilities, protect their wealth, and potentially benefit from reduced tax rates on income, capital gains, and inheritances.

 

Conclusion

The surge of Indian investors seeking residency by investment in Western countries through investment programs reflects a strategic and prudent approach to wealth management, global diversification, and securing a better future for their families. The stability, opportunities, and benefits these countries offer have captured the attention of Indian investors seeking to transcend borders and expand their horizons. As more Indian investors flock westward, the landscape of international investment continues to evolve, fostering closer ties between India and the West.

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USA EB5

Unlocking a World of Opportunities: The Benefits of Obtaining a Green Card through the EB-5 Program

Many individuals desire to reside permanently in the United States and come from every corner of the world. To achieve this goal, the EB-5 Immigrant Investor Program provides an innovative approach. Foreign investors that make a qualifying investment in an emerging company that generates jobs in the United States can acquire a Green Card. In this article, we will explore the benefits of gaining a green card through the EB-5 program with facts and data. Understanding these benefits can assist individuals in making sound choices about their immigration and investment plans as well as acquiring the opportunities offered by the program.

The EB-5 Program in a Nutshell 

Let’s go through the EB-5 program first, and then we’ll dive into the benefits. To boost the American economy through foreign investment, the EB-5 Immigrant Investor Program was created by the US Congress in 1990. The program provides investors who qualify and their immediate family members with a path to US citizenship through investment

The chart illustrates the number of US EB-5 Visas issued each year, considering both main applicants and their dependents. The data reveals significant variations in the number of visas issued over time. During the COVID-19 pandemic, around 2,000 visas were issued, reflecting a notable decline, likely due to travel restrictions and economic uncertainties. However, in 2022, the number of visas issued rose to around 10,000, indicating a significant recovery in the program’s popularity and demand. This increase suggests a renewed interest in the US EB-5 Visa program, potentially driven by improved economic conditions and a growing desire for investment and immigration opportunities in the United States.


Source: https://www.imidaily.com/datacenter/us-eb-5-program-statistics/

To be eligible for the EB-5 program, investors must fulfill the following criteria:

Invest at least $1.05 million in a new business (or $800,000 in a targeted employment area). Within two years of the investment, create and sustain at least ten full-time jobs for US citizens.

          

Let’s take a look at the advantages of earning a green card under the EB-5 program.

Economic Benefits 

Job Creation:

The EB-5 Program’s basic aim is to generate job creation in the US. EB-5 investors create opportunities for employment in the United States by investing in a new commercial business. According to the United States Citizenship and Immigration Services (USCIS), EB-5 investments have contributed to the creation of roughly 276,000 jobs over the past ten years, significantly benefiting local economies.

Economic Growth:

The EB-5 Program promotes economic growth and stimulates communities. The program promotes entrepreneurship and innovation while attracting foreign direct investment. According to research carried out by the Association to Invest in the USA (IIUSA), EB-5 investments have contributed over $41 billion to the U.S. Gross Domestic Product (GDP) since the start of the program.

A comprehensive peer-reviewed economic study found that during the fiscal year 2012, investments made through the EB-5 program contributed $3.39 billion to the U.S. GDP and supported over 42,000 U.S. jobs.

Regional Development:

Some of the EB-5 investment opportunities have been chosen for targeted employment areas (TEAs), which are high-unemployment areas or rural regions. By channeling investments into these areas, the program promotes regional development, bringing economic benefits to underserved communities and creating a more balanced economic landscape.

Source: https://www.statista.com/statistics/188165/annual-gdp-growth-of-the-united-states-since-1990/

Between 1990 and 2022, the real GDP (gross domestic product) in the United States increased every year.

Education and Lifestyle Advantages 

Education Possibilities:

A green card obtained through the EB-5 program enables the investor’s children to study at world-class institutions. Schools and universities in the US are internationally renowned for their quality and provide an extensive variety of academic programs and extracurricular endeavors. Access to these institutions gives students an advantage in their future attempts.

Healthcare System:

The US is renowned for its modern medical equipment and excellent healthcare facilities. Additionally, it has a highly effective healthcare system. Individuals who obtain a US green card through investment are given top-notch medical care and complete health insurance coverage, ensuring their safety and well-being.

Quality of Life:

The United States possesses an excellent standard of living, with a wide range of amenities and services that accommodate a wide range of interests and lifestyles. The country provides a plethora of opportunities for personal growth, relaxation, and fulfillment, from prospering cultural scenes to leisure activities.


Freedom and Security 

Visa-Free Travel:

Green Card holders under the EB-5 Program enjoy greater mobility and flexibility in international travel. They can travel visa-free to numerous countries worldwide, including popular tourist destinations, expanding their horizons and facilitating business opportunities.

Security and Stability:

As a benefit of the provision of a green card, the EB-5 program includes a sense of security and stability. It ensures a long-term stay in the United States of America, a nation acknowledged for its powerful legal system and upholding of individual rights, and provides defense against changes in immigration regulations.

Other perks and benefits:

Holders of green cards have the opportunity to become US citizens after meeting the requirements. The benefits of becoming a citizen of the United States, including the ability to vote and hold public office, increase the options available to EB-5 investors and their families.

Conclusion 

The EB-5 Program provides a revolutionary path toward achieving the American Dream. Investors are not the only ones who benefit from the program because, in exchange for the green card, they give back many things to the country as well, like investments, job creation, and economic expansion. The benefits that come with a green card are just unmatchable, starting from great educational opportunities to a higher standard of living and greater accessibility for a lifetime.


For a smooth and successful application procedure, seek expert assistance from seasoned EB-5 experts and immigration attorneys as you embark on the process. Now is the moment to realize your goals and grab all of the opportunities that await you in the land of freedom and possibilities. Start your journey today and unlock a world of endless possibilities through the EB-5 Program.

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Uncategorized USA EB5

Comparing EB-2 and EB-5 Visa Options for Indian Immigrants Moving to the United States

Choosing the appropriate visa category might be challenging for Indian immigrants looking for greater possibilities in the United States. The EB-2 and EB-5 visas are two of the many possibilities offered and are frequently chosen. If a National Interest Waiver (NIW) has not been granted, a company must apply for and get a PERM certification in order to sponsor professionals with advanced degrees or exceptional ability in their fields for them to be eligible for an EB-2 visa. While the EB-5 visa process USA provides a pathway to obtain a green card through investment and creating a minimum of 10 full-time jobs. To make an informed decision that aligns with their investor’s circumstances and goals, Indian immigrants must have a comprehensive understanding of these visa options, including their eligibility criteria, benefits, and key differences.

Comparing EB-2 and EB-5 Visas

The main distinction between the two visa categories is that the EB-2 visa would require one to have a sponsoring employer (unless applying for a  ) whereas the EB-5 visa process USA would only require a qualifying investment

Eligibility:

The EB-2 visa is primarily geared toward highly skilled professionals, while the EB-5 program eligibility USA is for investors with sufficient investment capital. Eligibility criteria are different for both processes. For example, EB-2 Visa requires a sponsor whereas EB-5 does not require dependency on such a factor. The EB-2 visa focuses on applicants with advanced degrees, exceptional ability, and those who possess labour certification. For EB-5 Visa the investment amount is done to a commercial enterprise enabling creation of jobs thus helping the economy of the country.

Job Requirements:

While the EB-5 visa process USA requires the creation of 10 full-time employment for Americans, the EB-2 visa needs a job offer from a U.S. firm. The start-up company concept must be highly meritorious, of national significance, and advantageous to the United States. 

 

                                                                          Source: IIUSA.ORG

 

The graph above depicts the estimated inflow of capital to the US economy with the EB-5 investments. The graph shows an increase till the year 2015 followed by a decrease. It is seen that during the covid times, a maximum fall in the investment inflow occurs.

Investment money

The EB-2 visa does not require any investment money, although premium processing will incur a charge of USD 2,500. This is a significant advantage of the EB-2 program as processing their application under other visa categories might take up to several years. The EB-5 program eligibility USA is favourable to investors who would like to obtain their citizenship by investment by making a positive impact to the economy.  For the EB-5 program, the minimum investment would be $1.05 million unless investing in a targeted employment area (TEA), where the minimum investment is reduced to $800,000.

Green Card Processing Time

According to USCIS processing estimates, the processing period for I-526 Immigrant applications for EB-5 visa process USA ranges from 29.5 to 61 months as of May 2023. A further chance to avoid processing delays is provided under the EB-5 Reform and Integrity Act of 2022 (the “RIA”) for Indian EB-5 investors who participate in rural projects. USCIS sets aside 20% of the total EB-5 visa supply for rural TEA projects.

 

                                                                        Source: IIUSA.ORG

 

The Form I-526 is an important application form that has to be approved so that the investor can apply for an EB-5 Visa. The above data indicates that for the year 2023 677 forms have been approved till March which seems like an increase compared to the year 2022.

No Visa Re-Stamping

Holders of an EB-5 visa are not required to get a new visa to enter or exit the country. This removes the inconvenience and unpredictability of retaining legal status while awaiting the approval of the EB-2 visa

Conclusion

An important choice for Indian immigrants hoping to immigrate to the US is choosing a suitable visa type. The divergence between the US EB-2 and EB-5 program eligibility USA has been thoroughly examined. For those possessing advanced degrees or exceptional talents, the EB-2 visa unveils a direct route to a green card via a job offer from a US corporation. Conversely, the EB-5 visa empowers investors to engage in a fresh enterprise, qualifying them for a green card along with various business opportunities and personal benefits. Navigating the intricacies of US immigration and selecting the optimal visa necessitates seeking guidance from an immigration lawyer or specialist. Ultimately, by carefully considering the merits and drawbacks of the EB-2 and EB-5 program eligibility USA and other options, Indian immigrants can make a decision aligning with their goals and aspiration.

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Blog

The Importance of Working with a Trusted Advisor in Citizenship by Investment Programs

Citizenship by investment programs has become increasingly popular in recent years, with numerous countries presenting this option to high-net-worth people seeking to enter citizenship through investment. However, navigating the challenging requirements and regulations of these programs could be difficult; therefore, it is crucial to work with a trusted advisor.


Expertise and Experience:

The most important advantages of working with a trusted advisor are access to their knowledge and encounter with investment programs. These professionals have an exhaustive familiarity with the provisions and regulations of these programs, along with the intricacies of the investment procedure. They can provide assistance to navigate complicated legal and financial issues, guaranteeing that their application is transmitted accurately and efficiently.


Understanding of Program Requirements and Regulations

Citizenship by investment schemes could be complicated, with differing requirements and restrictions depending on the country and program. Trusted advisors have an exhaustive understanding of these provisions and regulations, guaranteeing that they meet all the appropriate conditions and pertinent laws.


Knowledge of the Investment Process

Investing in a foreign nation might be daunting, with abundant legal and financial considerations. Trusted advisors have encountered the investment process, assisting people to make informed investment decisions and navigate complicated financial problems.


Access to Resources and Contacts:

One more benefit of working with a trusted advisor is access to their contacts and resources. These professionals have formed bonds with key stakeholders, for example, authority officials, lawyers, and financial institutions, that might be valuable in getting US citizenship by investment. They can also provide advice on investment opportunities and employment, and they can offer introductions to reputable services.

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Relationship with Government Officials

Trusted advisors have formed bonds with key regime officials that might be vital to getting a US investment visa. These bonds can provide assistance in navigating the application procedure and guarantee that their application is reviewed efficiently.


Access to Service Providers

Trusted advisors can provide access to reputable service providers, for example, lawyers and financial institutions, assisting people to make informed investment decisions and meet pertinent regulations.


Choosing the Right Advisor

Selecting the right advisor is essential to getting citizenship by investment, as not all advisors have been developed equally. It is crucial to work with an advisor who has a proven track record of accomplishment in the field along with an exhaustive familiarity with the regulations and provisions of the particular program in question. Additionally, it is necessary to pick up an advisor who is obvious and communicative, offering crystal-clear advice and updates throughout the procedure.


Track Record of Success:

Trusted advisors have to have a proven track record and anecdotes of accomplishment in citizenship through investment programs, illustrating their knowledge and encounters in the discipline.


Understanding Specific Program Requirements:

It is necessary to work with an advisor who has an exhaustive familiarity with the particular program requirements, guaranteeing that people meet all appropriate conditions and pertinent regulations.


Transparency and Communication:

Trusted advisors ought to be obvious and communicative all over the citizenship by investment process, offering crystal-clear advice and updates to the people.


In the end, working with a trusted advisor is critical to citizenship through investment. These professionals can provide essential guidance, expertise, and resources around the process, guaranteeing that candidates meet all the necessary requirements and comply with relevant laws and regulations. By choosing the right advisor, people can optimize their probability of accomplishment and inherit the citizenship they crave.

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Blog

The Benefits Of Investing in UK Real Estate for Tier 1 Investor Visa Applicants

Investing in UK real estate holds significant advantages for investors applying for the Tier 1 Investor Visa program. Global investors seeking to diversify their portfolios and obtain residency in a democratic nation have long sought after the United Kingdom. UK real estate stands out as a particularly profitable alternative among the different investment options accessible. It is essential to understand the benefits of investing in UK real estate for a Tier 1 Investor Visa, the potential returns, stability, and long-term advantages associated with this asset class. Whether it’s the stable and resilient market, attractive rental yields, the potential for capital appreciation, portfolio diversification, or the path to permanent residency and citizenship, UK Citizenship by investment offers a compelling investment opportunity for those seeking both financial growth and a secure future in the United Kingdom.

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                        Source: Immigrant Invest

The aforementioned figure shows that if an investor invests £10,000,000 in the UK economy, they can acquire their accelerated permanent residency in two years, or in three years if they invest £500,000. They are eligible to seek PR in the UK by investment if the investor and his family have been present for more than 186 days in a calendar year. Three months after entering the country, the investor should invest £2,000,000,000 in UK government bonds or corporate shares of UK firms.

Stable and Resilient Market

One of its primary advantages is the UK real estate market’s sturdiness and stability. The UK has a robust legal framework in place that upholds property rights and fosters an environment that is free from restrictions on investments. Even in times of economic instability, the country’s real estate sector has generally exhibited steady development. This constancy gives investors confidence in their investments, especially those seeking long-term capital growth and rental income. Many factors, including the UK’s growing population, a lack of suitable housing, and a high demand for homes in desirable neighbourhoods, are cited as reasons for the market’s resiliency. The market’s stability makes it an attractive option for Tier 1 Investor Visa applicants who seek a secure PR in the UK by investment.

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                                       Source: getgoldenvisa.com

The above graph shows the number of investors per year from 2008 to 2011. The program was closed in February 2022. We can see an increase in the demand for Tier 1 Investors Visa till the year 2014 followed by a slight decline. In the year 2014, the number of Tier 1 Investor Visa issued was 1,172 for applicants and 1,823 for dependents.

Attractive Rental Yields

Particularly in big cities like London, Manchester, and Birmingham, purchasing real estate in the UK provides an opportunity to earn enticing rental yields. These cities are seeing rapid population growth, which is driving up demand for rental homes. Limited housing supply and a thriving rental culture contribute to the high rental yields in these areas. Tier 1 Investor Visa applicants can benefit from the rental income their real estate investments generate, providing a steady cash flow and potential return on investment. This income can contribute to covering the costs of the investment and even yield additional profits.

Potential for Capital Appreciation

In addition to rental yields, UK real estate has a history of strong capital appreciation. Over the long term, property prices in desirable areas have shown significant growth. The UK’s well-established property market, coupled with its attractiveness to international buyers, contributes to the growth potential of real estate investments. Investing in UK real estate 

can offer Tier 1 Investor Visa applicants the opportunity to accumulate wealth through capital appreciation. The potential for property values to increase over time enhances the overall return on investment and positions investors to benefit from the growing property market in the UK.

Diversification and Portfolio Stability

Investing in UK real estate allows Tier 1 Investor Visa applicants to diversify their investment portfolios geographically and across asset classes. Real estate has historically demonstrated a low correlation with other financial markets, such as stocks and bonds. By including real estate in their investment strategy, visa applicants can mitigate risk and potentially enhance portfolio stability. Real estate investments provide a tangible asset that can withstand market volatility and offer a degree of protection during economic downturns. Including UK real estate in an investment portfolio can provide stability and serve as a hedge against market fluctuations, further strengthening the overall portfolio.

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                           Source : Goldenvisa.com

The above chart shows the nationality distribution of UK Tier 1 Investor’s Visa where the highest distribution is for China which is 33% followed by Russia which is 18%. The least seen is for Ukraine which is 1.4%.

Path to Permanent Residency and Citizenship

The Tier 1 Investor Visa program offers a pathway to PR in the UK by investment and, eventually, UK Citizenship by investment. By investing in UK real estate, visa applicants can fulfil the investment requirements of the program, which require a minimum investment threshold. The program’s requirements can be met with real estate investments, and the long-term nature of these assets aligns well with the program’s objectives. Investors who obtain PR in the UK by investment benefit from a number of privileges, including the ability to live and work anywhere in the country, as well as access to healthcare, education, and other advantages. It offers visa-free travel access to investors for 185 destinations including the United States and Schengen. The UK real estate market offers potential financial rewards, but it also has the potential to open up new opportunities and ways of living.

Conclusion

Investing in UK real estate presents numerous advantages for Tier 1 Investor Visa applicants. The stability, potential for attractive rental yields and capital appreciation, portfolio diversification benefits, and the opportunity for UK Citizenship by investment and permanent residency make it an appealing choice. To make sure that investment options match their financial goals and risk tolerance, potential investors must do extensive research, consult with experts, and thoroughly evaluate them. In addition to achieving their residency ambitions, Tier 1 Investor Visa applicants can possibly earn from a successful and secure long-term investment by utilising the advantages of UK real estate. UK real estate is a desirable investment choice for international investors due to its stability and growth potential, as well as the benefits of diversification and the prospect of permanent residency.

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Blog

How to Choose the Right Business for Your Canadian Investor Visa Application

Canada offers several investor visa and investment immigration programs that provide opportunities for foreign investors to obtain permanent residency in the country. These programs aim to attract investors who can contribute to the Canadian economy through their investment and entrepreneurial skills. Governments all across the world are using technology more and more in immigration and integration procedures. The Canadian government has ensured to make efforts to improve future citizens’ experiences as investors who obtain their citizenship boost their country’s economy, growth, and development.
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                                                                         Source: The Conservation


The above graph shows that Canada’s new Immigration level plan aims to provide 465,000 permanent residencies in 2023, 485,000 permanent residencies in 2024, and 500,000 in 2025. Immigrants are a vital part of the Canadian economy and social fabric. Immigration Minister Sean Fraser stated that Canada’s new immigration goal of 500,000 permanent residents annually by 2025 strikes a balance between economic requirements and international duties.

Different Types of Investor Programs

Canada Start-up Visa Program

The Canada Start-up Visa Program is aimed at business owners with creative ideas for ventures. Applicants must get a commitment from an approved Canadian venture capital fund, angel investor organization, or business incubator to be considered. Recipients are given a work permit and may then apply for permanent residence. You must own at least 50% of the voting rights associated with all of the company’s shares, or at least 10% of the voting rights associated with all of the company’s shares, together with the designated organization. It will cost 200,000 CAD from a Canadian venture capitalist, 75,000 CAD from an angel investor, and nothing at all if your company is accepted into a Canadian business incubator program.

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                                                                     Source: Immigration.ca

The figure shows the admission of Permanent residents through the Start-Up Visa Program from the year 2015 to 2022 quarter 1. This graph shows that  Business investment in Canada has increased after Covid and is expected to be higher by the end of 2023.


Provincial Nominee Programmes (PNPs)

There are different provincial nominee programs in Canada, some of which feature investor or entrepreneur streams. Provinces can suggest foreign investors through these programs who can boost the regional economy. Each province has different qualifying standards and investment restrictions. Express Entry and Non-Express Entry processes are the two categories.

Atlantic Immigration Pilot Program (AIPP)

The Atlantic Immigration Pilot Program is a collaboration between the federal government and the Atlantic provinces of Canada. It includes an entrepreneur stream that targets experienced business owners and requires a minimum business investment in Canada for a new or existing business.

Self-Employed Persons Programme

Those who want to work for themselves in Canada and have appropriate expertise in the arts or sports are eligible for the Self-Employed Persons Programme. Candidates must show that they have the potential to significantly advance their professions.

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                                                                             Source: y-Axis

The above pictorial representation throws insights into the number of permanent immigrants and various allotments based on factors and specifications. It is shown that by the end of 2023, 465000 permanent residents will be brought to Canada where 266,210 will be in economic class, 1,06,500 in family class, and 76,305 in Refugees. The estimated number of newcomers via PNP immigrating to Canada is 105,500 and 15,985 will be through Humanitarian based programs. Also, the number of newcomers through express entry is estimated to be 82,800 and 28,500 under the parents and grandparents program.


Factors one should consider while selecting the right business for a Canadian Investor Visa application

Understand the Investment Objectives and Preferences:

Before diving into the search for a suitable business, it is essential to clarify the investment objectives and preferences. Consider factors such as financial goals, industry expertise, risk tolerance, and personal interests and understand them to make the decision-making process and help narrow down the options.


Proper Research

The Canadian business landscape should be researched to get knowledge of booming industries, market trends, and investment prospects. Take into account elements like regulatory environment, capacity for growth, economic stability, and support for foreign investment. Conduct thorough research using reliable sources, consult industry reports, and leverage professional networks to gather valuable information about the opportunities for Business investment in Canada.


Seek Professional Guidance

Engage in the services of professionals who specialize in Canadian immigration and Canada start-up visa program. An experienced immigration lawyer, business consultant, or investment advisor can provide invaluable guidance throughout the process. They can help you understand the legal requirements, and ensure compliance with immigration and business regulations. Their expertise will significantly enhance your chances of selecting the right business and successfully navigating the investor visa application process.


Consider Regional Opportunities

Canada is a vast country with diverse regional economies. Consider exploring investment opportunities in specific regions that align with your investment objectives and preferences. Analyze factors such as population growth, industry clusters, infrastructure development, and government incentives. Some provinces or territories may have specific investment programs or targeted sectors that offer additional benefits to foreign investors. Assessing regional opportunities can help you narrow down your search and identify business prospects that are well-suited to your goals.


Conduct Due Diligence

Thorough due diligence is critical when evaluating potential businesses for investment. Scrutinise financial statements, market projections, business plans, and legal documents. Assess the company’s track record, reputation, and growth potential. Seek independent professional advice to evaluate the financial viability, potential risks, and returns on investment. Additionally, conduct background checks on key stakeholders and ensure compliance with anti-money laundering regulations.


Conclusion

Selecting the right business for your Canadian Investor Visa application is a crucial step toward achieving your immigration and investment goals. By understanding your investment objectives, conducting thorough research, seeking professional guidance, considering regional opportunities, and conducting due diligence, you can make an informed decision. Remember that the business you choose should not only meet the Canada start-up visa program requirements but also align with your long-term financial objectives and personal interests. With careful consideration and expert support, you can set yourself up for success in your Canadian investor journey. The different programs offered have different criteria and it is essential to evaluate different options and opportunities that are best convenient to the investor as well as for his business.

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Blog

The Role of Citizenship by Investment Programs in Global Mobility

In today’s interconnected world, global mobility has become a significant factor for investors seeking enhanced opportunities, security, and access to a broader range of benefits. Citizenship by Investment (CBI) programs have emerged as a pathway for investors to obtain second citizenship or residency in a foreign country through investment. Citizenship by Investment programs has witnessed a surge in popularity in recent years. These programs enable investors to obtain citizenship or residency in a foreign country by making a significant investment, typically in real estate, business ventures, or government bonds. This avenue allows them to bypass lengthy immigration processes and stringent eligibility criteria, providing an expedited pathway to a new legal status.

At present a large number of the countries that offer citizenship by investment are in the Caribbean. The most prominent and long-running program is the CBI program in St. Kitts and Nevis, which was founded in 1984. It is also among the most recognized in the field and is known as the “Platinum Standard”. Dominica’s Citizenship by Investment program was established in 1993 and has consistently held the top spot for five years. The demand for the Dominica Citizenship by Investment program and St. Kitts and Nevis Citizenship by Investment program is growing as a result of the two Caribbean countries’ excellent standards of living, secure environments, and investment prospects.

Benefits of Citizenship by Investment Programs :

Enhanced Global Mobility:

One of the primary advantages of CBI programs is the greater travel freedom they offer. Investors who obtain second citizenship or residency through these programs gain access to a large number of countries with visa-free or visa-on-arrival privileges. This facilitates business opportunities, and international networking, and provides investors with the flexibility to explore various countries without the need for additional visas or restrictions. 111 countries do not require a visa for Dominican nationals to enter, while 31 nations will issue one to them when they arrive. Passport holders from Saint Kitts and Nevis currently have visa-free travel to 153 international locations.
SOURCE: Immigrant Invest

The above picture shows visa-free destinations for Caribbean passport holders. The Caribbean passport gives visa-free access to more than 140 countries where Caribbean citizens can enter and stay for 180 days in the UK without a visa.

Caribbean passport holders can apply for US tourist visas more easily. For instance, Caribbean passport holders receive visas from US consulates in 2–3 weeks, and the visas are valid for 10 years, whereas investors from Azerbaijan must wait 3–4 months or longer.

Industry Standards and Best Practices:

Establishing guidelines and best practices for CBI programs ensures transparency, integrity, and adherence to global standards. This fosters trust among investors, governments, and stakeholders, bolstering the program’s credibility and attractiveness, while promoting fair and accountable processes. Therefore providing an added advantage to investors interested in Citizenship by Investment program.

Diversification of Opportunities:

CBI programs provide investors with the opportunity to diversify their business operations, investments, and assets across multiple jurisdictions. By acquiring second citizenship or residency, investors can enjoy the benefits of different legal systems, tax regimes, and investment environments. This diversification allows for greater flexibility in managing wealth, mitigating risks, and capitalizing on international business prospects. Dominica for Citizenship by Investment does not require the investor to automatically pay Dominica tax on dividends, interest, and royalties unless the investor chooses to remain on the island. Capital gains and inheritance are not taxed. The income tax, which can be as high as 35% for people and 25% for businesses, is the major tax in Dominica. Global mobility is made possible by these advantages provided by various nations as more investors show an interest in obtaining citizenship through investment.

Safety and Security:

Another significant advantage of CBI programs is access to political stability and a robust legal framework that comes with obtaining citizenship or residency in certain countries. These factors contribute to a secure environment for investors and their families, safeguarding their assets and offering protection against political or economic uncertainties in their home countries.

Source: Echeverria Abogados

The chart compares the government efficiency management score from Deep Knowledge Analytics (DKA) with the GRPI (Global Residence Programme Index) score from Henley & Partners. Deep Knowledge Analytics (DKA) is a data-driven analytical company that specializes in providing comprehensive assessments of various sectors, including government efficiency management. They utilize advanced algorithms and data analysis techniques to evaluate and rank different aspects of government performance. On the other hand, Henley & Partners’ Global Residence Program Index (GRPI) is an index that assesses and compares the attractiveness and efficiency of residence-by-investment programs worldwide. It evaluates factors such as the quality of the program, the reputation and transparency of the host country, and the overall benefits and freedom of movement it offers to participants. Comparing analytics and program index helps investors calculate the risk involved while selecting the country for their citizenship.

Technological Advancements:

The integration of technology is transforming the landscape of CBI programs. Digital identity verification, blockchain-based solutions, and online application processes are streamlining procedures, enhancing security, and improving the overall user experience. These technological advancements are expected to contribute to greater efficiency, transparency, and accessibility in CBI programs.

Challenges and Considerations

To maintain the integrity of CBI programs, it is crucial to implement robust due diligence procedures. These measures ensure that only reputable investors are granted citizenship, preventing abuse of the program and safeguarding the host country’s reputation. Stricter due diligence processes have been introduced to combat money laundering, terrorism financing, and other illicit activities. Schemes that allow a taxpayer access to a low personal income tax rate of less than 10% on offshore financial assets and do not demand a considerable amount of physical presence for at least 90 days in the country providing the citizenship by investment scheme are potentially high-risk.

Dominica is an advocate for more collaboration across countries that provide citizenship by investment when it comes to due diligence. The JRCC of CARICOM is one of the regional law enforcement agencies taking part in Dominica and St. Kitts and Nevis’ due diligence. Countries like Dominica commit to international safety and openness in a number of ways, coordination among Caribbean member states being only one of them. For instance, Dominica makes available every successful applicant’s name in its official quarterly gazette. Dominica also ensures that funds received through the Programme are itemized in the National Budget – so anyone can see how CBI money is being spent

The Future of Citizenship by Investment Programs

The demand for CBI programs is expected to continue increasing as investors seek greater mobility, access to opportunities, and the desire for a better quality of life. This growing demand has led to more countries considering launching or enhancing their CBI programs. Consequently, increased competition among countries offering such programs is likely to drive improvements in program features, benefits, and investor experiences.


Source: Henleyglobal

The figure shows Henley Passport Power and Foreign Direct Investment Inflows of Selected Economies. The two nations with the highest HPP scores are Singapore and Japan, with 98% and 89%, respectively. Singapore has a residence-by-investment program, in contrast to Japan, with a minimum investment of SGD 2.5 million (about USD 1.8 million). It’s interesting to note that Singapore has substantially higher foreign direct investment (FDI) inflows as a percentage of GDP than Japan does (see Figure 2).

Furthermore, despite having modest GDPs, investment migration host nations Malta, Singapore, and the UAE have high HPP rankings because of their strong external power.

Despite the size of their economies, FDI inflows account for a sizeable share of each country’s GDP. Visibly, investment migration countries with low HPP ratings (like Malaysia and Turkey) have higher relative FDI inflows than resident and citizenship by investment nations with high HPP values (like Mauritius, the USA, and the aforementioned).

The HPP scores of the world’s two biggest economies, the USA and China, are 68% and 26%, respectively. Only the United States has an investor migration program between these two nations. However, the USA and China both have lower FDI inflows as a percentage of GDP (1% versus 2%). This mismatch shows that attracting foreign direct investment is influenced by a wide range of economic and political issues, not merely the presence of a residency or citizenship.

Conclusion

Programs for citizenship by investment have become essential tools for promoting global mobility, giving people quick methods to become citizens or residents of other nations. These initiatives significantly contribute to increasing economic growth, supporting global citizenship, and facilitating international mobility. The demand for CBI programs is expected to continue increasing as investors seek greater mobility, access to opportunities, and the desire for a better quality of life. This growing demand has led to more countries considering launching or enhancing their CBI programs. Consequently, increased competition among countries offering such programs is likely to drive improvements in program features, benefits, and investor experiences.

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Blog

Don’t Make These Common Tax Mistakes When Seeking a Second Passport

Obtaining a second passport through a Citizenship by Investment (CBI) program has become an appealing option for investors seeking enhanced global mobility, expanded business opportunities, and increased personal freedom. However, amidst the excitement of acquiring a second passport, it is crucial to navigate the complex realm of taxes to avoid common tax mistakes that can have severe financial implications and legal consequences. Understanding the tax obligations and pitfalls associated with seeking a second passport is paramount to ensuring a smooth and successful journey.

By making a sizeable financial contribution to a host nation, investors can get a second passport through the notion of citizenship by investment program. While the benefits are undeniable, it is essential to be aware of the tax implications that accompany this process. Failure to comprehend the obligations related to tax laws can lead to penalties, fines, and legal consequences. Additionally, investors often overlook the requirement to report foreign assets acquired during the process, which can result in severe penalties and criminal charges.

Failure to Understand Residency and Tax Obligations:

Acquiring a second passport has far-reaching implications for one’s residency status and tax obligations. It is essential to understand the tax laws and residency requirements of both the home country and the country granting the second passport. 

Many investors fail to realize that obtaining a second passport may trigger tax obligations in both jurisdictions. If these requirements are not met, there may be fines, penalties, or even legal repercussions. Seek expert tax guidance to make sure one is informed of the obligations and can successfully negotiate the tax environment in order to avoid these hazards. For instance, Caribbean countries do not pay taxes on capital gains or inheritance. A few of them even pay no income taxes. Income taxes are imposed in Grenada, Dominica, and St. Lucia. While investors who obtained citizenship through Dominica Citizenship by Investment program pay taxes on their worldwide income, citizenship obtained through the Grenada Citizenship by Investment program and Saint Lucia Citizenship by Investment program solely pay tax money made within the nation.

At least 183 days a year are spent in the listed Caribbean nations to be a tax-paying resident so an investor can get a passport but not become a tax resident of the state. Participation in citizenship by investment programs exempts candidates from the requirement that they have to live in the Caribbean for a significant amount of time before or after becoming citizens.

Source: Immigrant Invest

From the above graph, we can see that number of applicants keeps on increasing which resulted in earnings of approximately 362.5 million Eastern Caribbean dollars therefore setting a record of having 23% more than in 2021 and 30% more than in 2020. One of the main reasons is that tax is to be paid only for the income made in the nation which attracts investors for Grenada Citizenship by Investment Program.

Neglecting Tax Reporting for Foreign Assets

One of the common tax mistakes investors make when seeking a second passport is neglecting to report foreign assets acquired during the process. Acquiring a second passport often involves substantial investments, such as purchasing property, establishing businesses, or making financial investments. Many investors overlook the obligation to report these assets and the income generated from them to their home tax authorities. However, tax authorities are increasingly cracking down on undisclosed offshore assets. Failing to report foreign assets can lead to severe penalties and even criminal charges. 

In order to maintain compliance and prevent potential legal repercussions, it is imperative to understand the reporting obligations and take into account consulting a tax specialist for advice. An important step forward in American efforts to prevent tax evasion by Americans who keep accounts and other financial assets abroad is the Foreign Account Tax Compliance Act (FATCA). This act is crucial for investors seeking US Citizenship by Investment. FATCA guidelines are still being developed by the Treasury Department and the IRS. According to information available till March 2023, Americans who have a financial stake in or signing power over a foreign financial account are obliged to file a Report of Foreign Bank and Financial Accounts if the total value of all of their overseas accounts exceeds $10,000.

Overlooking Double Taxation Agreements (DTAs)

Holding citizenship in multiple countries can give rise to the concern of double taxation, where the same income is subject to taxation in both jurisdictions. To mitigate this issue, countries often enter into Double Taxation Agreements (DTAs) to avoid investors being taxed twice on the same income. However, investors seeking a second passport often overlook the existence and relevance of DTAs. One can minimize the tax liabilities and prevent the hardship of double taxation by being familiar with the DTAs between their home country and the nation issuing the second passport. Investors can structure their financial affairs in a tax-efficient manner by being aware of the provisions of these agreements. 

According to the study EY 2019, citizenship alone is insufficient to guarantee tax residency in a country, hence citizenship by investment does not offer a risk of facilitating tax evasion. A dual tax resident must pay tax to one of the two countries, according to “tie-breaker tests” in DTAs. The tie-breaker tests under the United Nations’ proposed model DTA “do not consider citizenship at all.” Instead, they take into account the person’s primary residence, place of importance, and usual dwelling. The Citizenship by Investment schemes does not help people who want to avoid paying taxes or because they can only grant citizenship, not tax residence.

Tax residency is determined by a person’s centre of vital interests or domicile or the location where they have a permanent intention to reside as evidenced by past or present habitual residence. Therefore, merely being eligible for St. Lucia citizenship by investment program, Dominica citizenship by investment program, or St. Kitts and Nevis citizenship by investment program is not sufficient to make an investor a tax resident of these jurisdictions,” because it is “very rare” for citizenship alone to determine tax residency, with the United States being the most noteworthy exception.

Ignoring Exit Tax and Relocation Costs

When seeking a second passport, investors may overlook the potential exit taxes imposed by their home country when relinquishing their citizenship. On the basis of the value of the assets at the time of exit, exit taxes are frequently determined. Additionally, moving costs, visa fees, and legal fees are just a few additional expenses that may be incurred while shifting to a new nation. Ignoring these prospective expenses and neglecting to plan for them can result in unforeseen monetary burdens. It is crucial to consider exit taxes and relocation costs when planning a second passport journey to avoid any unwelcome surprises. The majority of programs require an investment in order to qualify, hence tax is also involved. Stamp taxes, property taxes, VAT taxes, and other taxes may be incurred while buying real estate in order to obtain an RBI visa unless the country in question has a zero tax rate in one or more of these areas. In these scenarios, investors, like the majority of people, will examine the available tax options and ceteris paribus choose the option with the lowest taxes, which is a tax-avoiding strategy but is not tax evasion.

Source: Imidaily.com

The above graph shows the number of individuals removed from their native land and the number reported. The expat list includes names of US citizens who have given up their citizenship as well as long-term US residents who have given up their green cards and who either have a minimum net worth of US$2 million or a five-year average of US tax payments that exceed US$178,000. Investors who renounce their US citizenship or permanent residency might anticipate paying an “exit tax” on all of their foreign assets worth more than USD$2 million, valued as if they were sold on the day of renunciation and this information is crucial for investors seeking US Citizenship through Investment.

Conclusion

Acquiring a second passport through a citizenship-by-investment program is an exciting endeavour with numerous benefits. However, it is essential to navigate the tax implications wisely to avoid common tax mistakes that can have significant financial consequences. By understanding residency and tax obligations, reporting foreign assets, leveraging double taxation agreements, implementing tax planning strategies, and considering exit taxes and relocation costs, one can protect their financial well-being and ensure compliance with tax regulations. Seek professional tax advice tailored to specific situations to make informed decisions and optimize tax position while enjoying the benefits of a second passport through a citizenship-by-investment program.

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Blog

What Happens When You Lose Your Citizenship? The Legal Consequences and Remedies

Our identity is fundamentally shaped by our citizenship, which gives us a sense of community and a variety of rights and advantages. Investors, however, occasionally face the unfortunate possibility of losing their citizenship due to unforeseen events. This loss can occur due to various reasons, including voluntary renunciation, involuntary revocation, or other unforeseen events. When it comes to citizenship by investment, understanding the legal consequences of losing citizenship becomes even more crucial. It is important to understand what happens when you lose your citizenship and delve into the legal implications and potential remedies, specifically in the context of citizenship by investment. 

The loss of rights and privileges, the impact on immigration and residency status, the concern for national security and extradition, as well as the disruption of family and heritage ties come into the picture when an investor loses his citizenship. Additionally, remedies, such as appealing the decision, seeking alternative citizenship through investment programs, and considering dual citizenship options are to be further discussed.

The Legal Consequences of Losing Citizenship:

Loss of Rights and Privileges:

People who lose their citizenship frequently lose access to a range of former rights and benefits. In accordance with a United Nations study, those who lose their citizenship might not be able to vote, work, live in that nation, or use its social services or healthcare system. Additionally, the ability to travel freely and enjoy consular protection from the former country of citizenship may also be compromised. For being eligible for Turkey Citizenship by Investment program, the minimum investment for real estate purchases was increased to $400,000 on June 12th, 2022, and not abiding by the same would lead to losing citizenship.

Immigration and Residency Status:

For individuals residing in a country as citizens, losing citizenship can have significant implications on their immigration and residency status. They might be subject to immigration laws, necessitating the acquisition of a suitable visa or permit to be allowed to remain in the nation legally. For instance, losing citizenship in the US may necessitate a person applying for non-immigrant visas or legal permanent residence (green card). Investors can invest in UK government bonds, shares, or loan capital of operational companies registered in the UK, or they can make a sizable purchase to qualify for UK Citizenship by Investment status. Investors must put at least £2,000,000 into existing British companies’ shares or bonds. In order to invest in their own business in the UK, innovators must have at least £50,000. The investor may add an additional two years to the visa. This calls for keeping the investment in place for 40 months before requesting an extension. The money may be refunded after five years.

National Security and Extradition:

In cases where citizenship is revoked or renounced due to actions deemed detrimental to national security or involvement in criminal activities, losing citizenship can lead to additional legal consequences. It may result in increased scrutiny, surveillance, or potential extradition to face charges in the former country of citizenship. The Global Citizenship Observatory (GLOBAL CITY) reports that some countries, such as the United Kingdom, have provisions for revoking citizenship on grounds of national security.

Source: Globalcit

The Figure illustrates the distribution of nations for territorial citizenship acquired based on birth. We can see that although unconditional birth in the territory of a state, which is mostly found in the Americas, may be rare, it is nonetheless existent in up to 19% of countries worldwide. In addition, another 17% of nations have a variety of conditional birth in the territory of a state, where children born in the territory only acquire the citizenship of that country, regardless of the parental citizenship, if a parent was born on the territory or owns a certain resident title. Parental group or gender limitations are in place in 11 nations.

Family and Heritage Ties and Limitations on Dual Citizenship:

The loss of citizenship can disrupt familial and heritage ties, impacting family reunification, inheritance rights, and the ability to pass down citizenship to future generations. The International Organization for Migration highlights that individuals who lose their citizenship may face difficulties in maintaining family connections and accessing family reunification processes. Certain countries do not allow dual citizenship, and loss of citizenship may be a consequence of acquiring citizenship in another country. According to a study by the University of Michigan, approximately 66 countries prohibit or restrict dual citizenship. Investors considering acquiring second citizenship must carefully consider the legal implications and potential consequences before pursuing dual citizenship.

Remedies for Lost Citizenship:

Appeal or Judicial Review:

In some cases, individuals may have the right to appeal or seek judicial review of the decision to revoke or deny citizenship. Engaging legal counsel with expertise in immigration and citizenship law is crucial to explore the available legal remedies and challenging the decision through administrative or judicial processes. According to data from the Migration Policy Institute, the success rates of citizenship appeals vary across countries, highlighting the importance of seeking professional assistance.

Source: census.gov

The data above represents the net international immigrants. We can see that there is a sharp decline in the number of individuals after the year 2016 and further decline after 2020 due to COVID. The number of international immigrants increase after the year 2022 showing that the rules and regulations have been made friendlier to the investors looking for Citizenship by investment.

Naturalization or Citizenship by Investment:

For individuals who have lost their citizenship, obtaining citizenship in another country through naturalization or a citizenship-by-investment program may be a viable option. According to the Henley Passport Index, citizenship by investment programs, such as Turkey’s Citizenship by Investment program and UK Citizenship by Investment program has gained popularity. These pathways provide an opportunity to regain the benefits and rights associated with citizenship. The country Turkey makes an average of $250 million every month from its foreign investors only and citizens with a Turkish passport can visit around 110 nations without the requirement for a visa, a visa on arrival, or an Electronic Travel Authorization.

Asylum or Refugee Status:

When losing citizenship puts a person in danger of persecution or harm, they may be offered protection and legal recourse by applying for asylum or refugee status in another nation. Individuals who have lost their citizenship owing to discriminatory practises or persecution may be eligible for asylum or refugee status, according to the United Nations High Commissioner for Refugees (UNHCR). Data on about 4.4 million stateless people living in 95 countries as of the end of 2022 have been compiled. The true sum, according to estimates, is significantly larger. In 2022, 339,300 people fled their home countries as refugees, while 114,300 people were resettled with or without UNHCR assistance.

Dual Citizenship Options and International Human Rights Mechanisms:

Where it is legal, considering the option of obtaining dual citizenship can assist people in keeping ties to their old nation of citizenship while taking advantage of citizenship in another. According to the CIA World Factbook, several nations, including Canada and Switzerland, permit dual citizenship under specific circumstances, giving people the chance to maintain ties to their ancestry while making use of second citizenship. People can seek redress through international human rights institutions if they feel that losing their citizenship breaches their human rights. According to the Amnesty International Report, individuals can file complaints with relevant human rights bodies or engage non-governmental organizations specialized in human rights advocacy. These mechanisms provide a platform for addressing citizenship-related issues from a human rights perspective.

Source: Macimide

Based on the graph depicted in the Dataset’s over 10,000 country-year data, we can see that, in 1960, the majority of nations 62% still had a conventional unfavorable attitude towards dual citizenship. A citizen who willingly gains the citizenship of another state forfeits their citizenship under this stringent policy. However, 76 percent of nations will still tolerate dual citizenship by 2020 and let persons voluntarily get citizenship in another nation without adverse effects on their citizenship of origin.

Conclusion:

Losing citizenship is a significant and life-altering event with wide-ranging legal consequences. It is essential for individuals facing this situation to seek expert legal advice to understand their rights, explore potential remedies, and navigate the complex legal landscape. Whether through legal challenges, naturalization in another country, or exploring dual citizenship options, individuals may find paths to regain the benefits and protections associated with citizenship. By gaining insights into these legal consequences and available remedies, investors can make informed decisions and mitigate the challenges associated with losing their citizenship through a citizenship-by-investment program.

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Immigration

The Impact of the Biden Administration on US Immigration Policies

The Biden Administration has brought forth significant changes to US immigration policies, departing from the restrictive stance of the previous administration. According to CNN News, over 45 million legal immigrants reside in the United States, the majority of whom are citizens. The administration has introduced important changes and opportunities for foreign investors seeking to obtain permanent residency through the US Green Card by Investment and US Investor Visa programs. The key impacts of the Biden Administration’s approach to immigration include the reversal of certain policies, the introduction of new initiatives, and the broader implications for immigrants, asylum-seekers, and the US immigration system as a whole.

Reversal of Restrictive Policies

Several severe, restrictive immigration laws established by the previous government have been overturned by the Biden government. The main goals of these adjustments were to restore humanitarian values, promote inclusivity, and provide aid to those suffering as a result of the previous administration’s actions. Among the notable adjustments were cancelling the “Remain in Mexico” policy, easing travel restrictions on countries with sizable Muslim populations, reinstating the “Remain in Mexico” policy, and reinstatement of the Deferred Action for Childhood Arrivals (DACA) program. Additionally, the Temporary Protected Status and Deferred Action for Childhood Arrivals programs give almost 1 million undocumented immigrants temporary authorization to reside and work in the United States.

Source: CQPress

The graphical representation above shows that the majority approves Biden’s Immigration Policies based on data collected between January 28th to February 1st  2021. 54% of the sample population are in favour of halting the construction of the US wall along the U.S.- Mexican border, 83% of the sample population are in favour of citizenship for undocumented immigrants brought to the US as children and 57% of the sample population are supporting reversing Trumps’s travel ban on people from predominantly Muslim countries.

New Initiatives and Reforms

To address many facets of the immigration system, the Biden Administration has also unveiled new projects and suggested improvements. This includes the U.S. Citizenship Act of 2021, a comprehensive immigration reform bill that aims to give undocumented immigrants pathways to citizenship, strengthen border security, and give family reunion priority. Executive orders have also been issued to create task groups that are dedicated to reuniting split-up families and tackling the underlying reasons for migration from Central American countries. The limit on refugees has been raised by Biden to 125,000 for the fiscal year 2022, which began on October 1, 2021.

US Green Card by Investment Program

The US Green Card by Investment Programme, also known as the EB-5 Immigrant Investor Programme, provides a mechanism for foreign investors who invest significant amounts in a qualifying US venture to get permanent residency. This program continues to give people the chance to invest in businesses that generate jobs, boost local economies, and get a Green Card for themselves and their families under the Biden Administration. The application procedure is now more streamlined for candidates due to the efficiency and openness of the program, which was brought about by the administration’s dedication to job creation and economic growth. By offering citizenship to 1 million foreign immigrants in 2022, the US has created a new history for the third time. In FY 2022, 1,023,200 immigrants who had dependent children and parents who had obtained US citizenship were naturalized.

The USCIS has processed 275,111 immigrant green card requests relating to work, in addition to the State Department’s petitions for overseas visas.

US Investor Visa Program

Citizens of treaty countries have a doorway to invest and operate a business in the United States owing to the E-2 Treaty Investor Visa, also known as the US Investor Visa Programme. The E-2 visa offers foreign investors the ability to live and work in the US on a renewable basis, but it does not give a straight path to permanent residency like the Green Card program. The Biden Administration’s focus on promoting entrepreneurship and innovation has created a favourable environment for investors seeking to establish or expand their business ventures in the United States. Through the U.S. diversity visa program, often known as the visa lottery, roughly 50,000 individuals earn green cards each year. The yearly number of diversity visas would be increased to 80,000 under legislation proposed by the Biden administration.

Enhances immigration enforcement and border security

The administration’s top priorities are still strengthening border security and providing safe, legal migratory routes. The almost $25 billion budgeted amount for US Customs and Border Protection (CBP) and Immigration and Customs Enforcement (ICE) is an increase of nearly $800 million from the level approved for 2023 when border management expenditures are taken into consideration.  The budget allocates money for CBP to hire 350 more Border Patrol agents, $535 million for border security technology at and between ports of entry, $40 million to fight fentanyl trafficking and dismantle international criminal groups, and money for CBP and ICE to hire 460 more processing assistants. The financing would enable ORR to strengthen and build upon the programmatic enhancements this administration made to the unaccompanied minors program and would assist in the resettlement of up to 125,000 refugees in Fiscal Year 2024.

Challenges and Considerations

While the Biden Administration has brought positive changes, it is important to note that challenges and considerations remain. These include the potential for increased scrutiny in the adjudication process, stricter enforcement of program requirements, and ongoing legislative developments that may impact the eligibility criteria and investment thresholds. The winds of change brought by the Biden Administration have swept through US immigration policies, breathing new life into the US Green Card by Investment and Investor Visa programs. Prospective investors must stay vigilant, adapt to evolving legislative developments, and seek the guidance of experts to navigate the intricacies of the application process. By staying informed and harnessing the opportunities presented by the Biden Administration’s immigration policies, investors can shape their futures and contribute to the economic fabric of the United States.

 Source: Boundless.com

The Biden Immigration policy tracker shows the number of new policies brought by the Biden Administration, the number of Trump policies the Biden administration revoked and the policies which are still ongoing, blocked or never finalized.

Implications and Future Outlook

The impact of the Biden Administration’s immigration policies extends beyond immediate policy changes. The US announced an increase in humanitarian aid to Mexico and Central America of about $23 million. The shift in approach displays a more profound dedication to human rights, inclusivity, and a compassionate immigration system. The policies of the Biden Administration address structural problems and would also affect the social and economic aspects of the nation, therefore impacting millions of immigrants’ lives. The bill would allow roughly 7 million undocumented immigrants to seek work permits, driver’s licenses, and protection from deportation. The Build Back Better Act, which would make several immigration reforms possible, is being pushed for passage.

The government, with its strong commitment to diversity, has ushered in an era of openness, effectiveness, and accessibility. The comprehensive bill would revamp the country’s current family-based immigration system, change the requirements for employment-based visas, and boost the number of diversity visas. It would also offer an eight-year road to citizenship for the estimated 10.5 million undocumented residents of the country. As a result of the Biden-Harris Administration’s plans to accept up to 20,000 refugees from Latin America and Caribbean nations in Fiscal Years 2023 and 2024, the United States is on track to more than triple the number of refugees admitted from the Western Hemisphere in only this Fiscal Year. By reversing restrictive measures, introducing reforms, and emphasizing a more welcoming approach, the administration has opened doors for many opportunities in the United States. 

Conclusion

The US immigration laws have seen considerable changes under the Biden Administration, which has placed a strong emphasis on inclusivity, undone restrictive provisions, and proposed extensive revisions. These policy changes represent a dedication to a kinder and more welcoming approach, helping to shape the future of immigration in the US. Increased efficiency and reduced processing times have eased the path for aspiring investors, while enhanced communication channels have fostered better engagement with applicants. Given the administration’s commitment to comprehensive immigration reform, there is a good probability that these programs will be enhanced and expanded in the future. This promotes a climate that is advantageous for business investment and economic growth. Although the long-term effects of these regulations have not yet been completely realized, the immediate effect is encouraging.

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