Here is a recent query from an online forum. The questioner adds
“I have no plans to work, or claim welfare of any kind. Simply buy a property and spend my days relaxing, shopping and so on.”
Our editor responds: Merely the intent to move to the US will not get you a visa. However, since you are a multi-millionaire, and have a million dollars to invest, you may be eligible for certain categories of immigrant visas. As a high-net-worth individual/entrepreneur, you qualify for several types of visas. You could apply for the following:
- E-2 Treaty Investor (nonimmigrant visa) – According to the USCIS, one is eligible for an E-2 visa if you invest a substantial amount of money in a new or existing U.S. business. This is applicable for individuals from countries that have a treaty of commerce with the United States. This visa isn’t an immigrant visa, so it has an initial period of stay of 2 years. You can extend the visa in two-year increments.
- EB-5 Immigrant Investor Program (immigrant visa and green card) – Check out the detailed Q&A: What is Eb5 visa? EB5 is a popular program that some wealthy Chinese and Indians have been availing. After your attorney files the green card application, one should be prepared to do an interview and wait about six months before being granted the Visa
Q&A: What would be the impact under Indian laws for Indians, either residents or non-residents, getting citizenship in other countries?
Indian law does not prevent an individual from acquiring a foreign citizenship. However, after acquiring a foreign citizenship, an individual has to Renounce their Indian Citizenship (ref link: Consulate General of India )
“It is mandatory for all persons of Indian origin, who had ever held an Indian passport, to renounce their Indian citizenship upon acquiring any foreign nationality. This is a prerequisite to obtain Visas or OCI cards from the Consulate.”
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