Starting in April, Indians will pay $ 50,000 more for the US investor visa

WASHINGTON: Beginning April 1, Indians wishing to emigrate to the United States will now have to pay an additional $ 50,000 for the EB-5 or the US investor. , a medium said .

Although this additional tax would affect all visa categories, it will predominantly create a barrier for people who invest in program, the daily said in the report on Friday.

In 2019, the EB-5 investor visa program, for the first time since the 1990s, increased the minimum investment amount to $ 900,000. With this increase, the new additional 5% tax would mean that applicants would have to pay the additional $ 50,000 when they move money to a escrow account in the US UU. to meet your request criteria .

The changes in the remittance tax is a reminder for the Indians to carefully plan their fiscal position before moving to the United States, the US bazaar cited Mark Davies of Davies&Associates LLC, as they say . “People seeking to emigrate who do not wish to pay this tax at source and rather account for it later may wish to move their money before the new rules come into effect.”