New Indian remittance tax to cost EB-5 investors 5% more

  • Posted on March 4, 2020 | Updated on March 5, 2020 | 5 min read

As of April 1, 2020, a new Indian tax of 5% will be attached to money leaving the country. For Indian EB-5 applicants with a $900,000 Targeted Employment Area (TEA) project, this will mean an additional $45,000. Some advisors recommend that Indian EB-5 green card investors move their funds to a U.S. escrow account before April 1even if they don’t file their applications by that date.

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