Hello group,
as I've been asked this question 9 times in the past week, I've decided to just answer this question on this forum itself.
Yes, the foreign exchange purchase limit for INDIVIDUAL Indian investors to invest overseas is still USD 200,000. However, it is perfectly legal for any Indian to establish a business entity in India and then use the entity to legally purchase Dollars from the open market and remit the same to the US up to a maximum limit of $15,000,000. The investor can also use the entity to petition for the EB5 visa. I can refer you to chartered accountants or you may use your own. The RBI specifically prohibits use of this money for investment in real estate development and use in banking business is also restricted, due to which investment is most regional centers appears to be illegal for most Indian EB5 investors. As always, I'm NOT an attorney, so do not construe this as legal advice, and instead consult your own attorney and financial adviser to confirm that the opinions stated above are correct.
Also, YES, it is possible for investors to invest in multiple locations of franchise businesses such as dunkin donuts, krispy kreme, subway, holiday inn, BP / Hess / Shell gas stations, etc. to qualify for the EB5 program. I've had clients do it and can assure you it is 100% legal and you're welcome to call the USCIS number or check with your own attorney to confirm that this is correct.
as I've been asked this question 9 times in the past week, I've decided to just answer this question on this forum itself.
Yes, the foreign exchange purchase limit for INDIVIDUAL Indian investors to invest overseas is still USD 200,000. However, it is perfectly legal for any Indian to establish a business entity in India and then use the entity to legally purchase Dollars from the open market and remit the same to the US up to a maximum limit of $15,000,000. The investor can also use the entity to petition for the EB5 visa. I can refer you to chartered accountants or you may use your own. The RBI specifically prohibits use of this money for investment in real estate development and use in banking business is also restricted, due to which investment is most regional centers appears to be illegal for most Indian EB5 investors. As always, I'm NOT an attorney, so do not construe this as legal advice, and instead consult your own attorney and financial adviser to confirm that the opinions stated above are correct.
Also, YES, it is possible for investors to invest in multiple locations of franchise businesses such as dunkin donuts, krispy kreme, subway, holiday inn, BP / Hess / Shell gas stations, etc. to qualify for the EB5 program. I've had clients do it and can assure you it is 100% legal and you're welcome to call the USCIS number or check with your own attorney to confirm that this is correct.
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