Greystone EB-5 eyes Indian millionaires, billionaires in US

The EB-5 program is a US government immigration initiative that provides foreign nationals an opportunity to receive a permanent visa to the US in exchange for a capital investment ranging between USD 500000 to USD 10,00,000 into one or more newly formed commercial enterprises that lead to the creation of jobs in the country.

"There is a large population of millionaires and billionaires that are aspiring for citizenship in the US. Our EB-5 business provides foreign investors access to EB-5 compliant investment opportunities in realty projects," Greystone EB-5 Director Abteen Vaziri told reporters here today.

The company invests in multifamily and healthcare properties through multiple lending platforms.

"We have invested in a project in Holland through this platform where we have an Indian investor. For our second project in the New York City, we plan to raise USD 57.5 million from 115 investors worldwide. Out of these, we have already received commitment from 35 investors and of the balance, we are targeting 30 per cent out of India," he said.

The company is looking at around USD 12 million investment from Indian investors for this project, Vaziri added.

He also said the company was also planning to set up offices here for this purpose.