Page 66 - Desi Express Magazine Sept 2019

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Under the new rules, the EB-5
Immigrant Investor Programme will be
tweaked so that individuals will need
to invest $900,000 in a Targeted Employ-
ment Area from the earlier $500,000,
and $1.8 million to invest in other parts
of the country from the $1 million The Indian government abolished Article 370 and moved a separate bill to
required earlier. Targeted employment split the state into two union territories of Jammu, Kashmir and Ladakh.
areas are either rural areas or those that
have high unemployment. These invest- The Indian-American community in the US has urged the Trump administra-
ments are sought to generate local jobs. tion to "fully support" India's decision to revoke the constitutional provision
that accorded special status to Jammu and Kashmir and to continue to
C exert pressure on Pakistan to end its support to cross-border terrorism.
Currently, out of the total 10,000 such urrently, out of the total 10,000 such
visas issued every year, there is a per
country limit of 700 visas. This type of The Indian government abolished Article 370 and moved a separate bill to
visa is increasingly becoming popular split the state into two union territories of Jammu, Kashmir and Ladakh.
with wealthy Indians who want to move Article 370 granted special status to Jammu and Kashmir and allowed it to
to the US. India breached the country have its own flag and constitution, among other rights.
cap in fiscal year 2018, the first time
“We urge the US to fully support India's internal sovereign decisions on We urge the US to fully support India's internal sovereign decisions on
since the visa programme was intro- “
duced in 1990. Kashmir and to continue to exert pressure on Pakistan to end its support
of cross-border terrorism, so the Kashmir conflict can be resolved once and
I for all,” Samir Kalra, managing director of Hindu-American Foundation
In recent years, the EB-5 has emerged n recent years, the EB-5 has emerged
as a popular option with Indians, said (HAF), said. Kalra said that the abrogation of Articles 370 and 35A, which
Vivek Tandon, CEO, EB5 BRICS, an EB5 were only intended as temporary provisions, is an important step in
visa consultancy. “From 2014 to 2019, bringing about a solution to the Kashmir issue. "It will help better integrate
the number of applications increased the residents of Jammu, Kashmir and Ladakh into the rest of India and
from 50 to 800 a year. While there may apply one set of equal laws across the country,” Kalra said.
be some decline in demand, it is still an
easy route to get a green card,” he said. Welcoming the decision, the World Hindu Council of America said that
with the removal of this special status, the regions of Jammu, Kashmir
T and Ladakh will finally be fully integrated with the rest of India,
The country cap of 700 and a require-he country cap of 700 and a require-
m allowing effective and sustainable development in these regions.
ment to create 10 jobs locally remains ent to create 10 jobs locally remains
unchanged. “Indian immigrants will be
slower in applying for EB-5 visa. They N
New York-based attorney Ravi Batra said that this action must deliver ew York-based attorney Ravi Batra said that this action must deliver
will also be careful with respect to their enhanced peace and security to Jammu and Kashmir, as well as between
choice of regional center and projects,” India and Pakistan. “It's time for the Sub-Continent to celebrate freedom
Abhinav Lohia, Director-South Asia and not only from colonialism - but terror too. The United States, as a friend
Middle East, CanAm Investor Services of the Sub-Continent, wants peace and prosperity to reign, not fear
said, about the impact of the new rules. and terror,” Batra said.

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