From 1st April, the EB5 Visa will cost $50,000 more

Indians aspiring to immigrate to the US will need to pay an extra $50,000 for the EB5 Investor Visa from 1^st April 2020. There would be an additional 5% tax on moving money to an escrow account in the US. The extra tax would amount to Visa applicants paying $50,000 more for the EB5 Visa.

The new tax would apply to all Visa categories but will impact EB5 Visa applicants the most.

For the first time, since its inception in 1990, the investment amount was for the EB5 Visa was hiked. The US increased the minimum investment amount for the EB5 Visa to $900,000 in 2019.

EB5 Visa applicants would already need to pay more to meet the application criteria. The added tax of moving money to an Escrow account would make these applicants shell out $50,000 more.

Immigration Experts believe that Indians planning to apply for the EB5 Visa need to plan their tax position with great care. They should carefully plan their finances before they make their move to the US.

Experts also say that those who do not wish to pay the new tax at source must move the money before the new rules take effect. These applicants can then account for the tax later. You can move your money into an escrow account in the US pre-emptively until you are ready to proceed with the immigration process.

Y-Axis offers a wide range of Visa and Immigration products as well as services for aspiring overseas students, including Work Visa for the USA, Study Visa for the USA, and Business Visa for the USA.

If you are looking to Study, Work, Visit, Invest or Migrate to the USA, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.

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