Name: Ajmera Law Group
Address: 206 Elite Business Park, Opp. ShapathHexa, Nr. Kargil cross road, Sola, Ahmedabad, Ahmedabad, 380060, India
Telephone: +91 9974253030

May 26, 2021

The US Start-Up Visa Program – Requirements for start-ups who wish to relocate to the USA!

By Ajmera Law Group Residency & Citizenship by Investment, US start up visa program

In order to apply under the Start-Up Visa Program of the U.S., start-up founders need to meet the following requirements:

Founder(s) must show themselves as entrepreneurs with a Qualifying Start-up Entity.

Evidence and supporting documents that are filed with the petition must demonstrate that –

(1) The founder(s) have a central and active role to play in the operations of a start-up entity, such that they are well-positioned, due to their knowledge, skills, or experience, to substantially assist the U.S. start-up entity with the growth and success of its business;

(2) Possess at least a 10% ownership stake in the U.S. start-up entity, and that the entity:

(a) Was recently formed (for example, created within the five years immediately preceding the filing of the petition) and has been lawfully doing business within the United States during any period of operation since its date of formation; and

(b) Has substantial potential for rapid growth and job creation, evidenced by the receipt of significant capital investment, grants, or awards.

Substantial Investment, Grant, or Award.

Founders may be considered for entrepreneur parole if they demonstrate that their start-up entity has received a minimum investment amount or qualified award or grant as described below:

(1) The start-up entity has received a qualified investment, within 18 months immediately preceding the filing of the petition, of at least $250,000 US from one or more qualified investors;

(2) The start-up entity has received, within 18 months immediately preceding the filing of the petition, an amount of $100,000 US or more through one or more qualified government awards or grants; or

(3) If the start-up entity partially meets one or more of the above criteria, founders may still be considered for entrepreneur parole by providing other reliable and compelling evidence of the start-up entity’s substantial potential for rapid growth and job creation.

A lesser amount can be considered on a case-by-case basis if it can be shown that it is substantial.

The investment must be from a ‘Qualified Investor’.

The term ‘qualified investor’ for purpose of entrepreneur parole means an individual who is a U.S. citizen or lawful permanent resident of the United States, or an organization that is located in the United States and operates through a legal entity organized under the laws of the United States or any state, that is majority-owned and controlled, directly and indirectly, by U.S. citizens or lawful permanent residents of the United States, provided such individual or organization regularly makes substantial investments in start-up entities that subsequently exhibit substantial growth in terms of revenue generation or job creation.

Such an individual or organization may be considered a ‘qualified investor’ if, during the preceding five years:

(1) The individual or organization has made investments in start-up entities in exchange for convertible debt or another security convertible into equity commonly used in financing transactions within their respective industries comprising a total in such 5-year period of no less than $600,000 US; and

(2) Subsequent to such investment by such individual or organization, at least 2 such entities have each created at least 5 qualified jobs or generated at least $500,000 US in revenue with average annualized revenue growth of at least 20%.

Additional Supporting Evidence.

Additional supporting evidence concerning the start-up entity’s business, its substantial potential for rapid growth and job creation as well as the founders’ day-to-day role in the business has to be submitted.

If the start-up entity partially meets the qualified investment, government grant, or award criteria, founders may be still considered for parole by providing other reliable and compelling evidence that the start-up entity has substantial potential for rapid growth and job creation.

Such supporting evidence may include, but is not limited to, the following:

(a) Evidence of rapid growth, such as – number of users or customers, revenue generated by the start-up entity, additional investments/fundraising, including crowdfunding platforms

(b) Social impact of the start-up entity

(d) Positive effects on the start-up entity’s locality or region

(e) Any other reliable and compelling evidence that the start-up entity has substantial potential for rapid growth and job creation.

May 26, 2021

A large number of Indians are returning home from the UK

By Ajmera Law Group Headlines, Residency & Citizenship by Investment, UK, UK Business Visa - Start-Up and Innovators

These are unfortunate cases that reflect the plight of individuals and families who went to the UK without proper guidance and advice from immigration lawyers. They were advised by unregulated, inexperienced agents and consultants in India who give them false hopes about settling and starting a new life in the UK.

The hype and myth created by agents and consultants make vulnerable students and parents believe that once they study or arrive in the UK, their life is sorted and they will be able to settle there permanently. There are many individuals who go to the UK on a visitor visa and stay back in the UK as per the ill advice of their agents or consultants. They are lured by fabricated stories of how these agents and consultants managed to ‘settle’ thousands of such individuals in the UK because of their so-called ‘connections’. The honeytrap of these agents and consultants is – once you reach there, everything will be okay. Just leave India.

Gullible youngsters and parents often fall prey to these schemes and blindly fall into these traps. Our office has encountered a number of such cases whereby the careers and lives of these individuals are completely ruined.

Refer to media release – click here

May 26, 2021

US clears path for foreign entrepreneurs and start-ups

By Ajmera Law Group Residency & Citizenship by Investment

By removing the Trump administration’s proposal that aimed to kill the initiative, the Biden administration wants to resurrect an immigration program that allows foreign entrepreneurs to operate in the United States.

The International Entrepreneur Law, which was proposed by President Barack Obama’s administration three days before he left office in 2017, enables foreign entrepreneurs to work in the United States for up to five years if their start-ups can raise at least $250,000 US from the venture capital in United States, recruit ten employees, or meet other criteria.

As part of its attempts to revive the program, the Biden administration intends to market it aggressively. These actions are in response to demands from venture capital firms which want the administration to support a program that would encourage thousands of foreign start-up founders to relocate to or stay in the United States to expand their ventures.

“The Biden administration is unlocking an enormous job growth opportunity by incorporating the International Entrepreneur Rule which will help the United States remain the global leader in innovation,” said Bobby Franklin, President & CEO of the National Venture Capital Association (NVCA), the venture community’s preeminent trade association focused on empowering the next generation of transformative American companies.

“Immigrants in the United States have a long history of entrepreneurship, hard work, and creativity, and their contributions to this nation are incredibly valuable,” said Tracy Renaud, Acting U.S. Citizenship and Immigration Services Director.

Currently, there is no visa available for start-up founders in the United States, despite the widespread bipartisan support for the concept. Other visa types must be used for foreign entrepreneurs, but none are ideal.

Between 2017 and 2019, USCIS received only 30 applications for the program, with only one being accepted, according to a USCIS official.

According to USCIS, if the program is properly implemented, about 3,000 international entrepreneurs would qualify per year, resulting in the creation of about 100,000 jobs over a ten-year period.

Note: This article is contributed by Ms. Dishita Sheth – Intern at Ajmera Law Group.

May 1, 2021

President Biden includes India to the List of COVID-19 Public Health Travel Ban Countries

By Ajmera Law Group Headlines, Residency & Citizenship by Investment, USA

The Main Points to be noted for this ban are:

(i) President Biden has issued a proclamation imposing a COVID-19 public health travel ban on foreign nationals with a recent physical presence in India. This same type of travel ban is already in effect for Brazil, China, Iran, Ireland, countries in the European Schengen Area, South Africa, and the United Kingdom.

(ii) Starting at 12:01 am EDT on May 4, 2021, foreign nationals who have been physically present in India within 14 days of travel to the United States will be barred from entry, unless they qualify for an exception.

(ii) Consular operations in India are at a significantly reduced capacity due to the COVID pandemic, so those seeking exceptions to the new ban from a U.S. consulate are likely to experience delays and challenges.

Today, President Joseph Biden issued a presidential proclamation imposing a COVID-19 public health travel ban which prohibits the entry of foreign nationals who have been physically present in India within 14 days of their travel to the United States. The India ban restrictions take effect at 12:01 am EDT on May 4, 2021.

However following people will not be affected:

U.S. citizens and nationals;
U.S. lawful permanent residents;
Spouses of U.S. citizens and lawful permanent residents;
A foreign national who is the parent or legal guardian of an unmarried U.S. citizen or lawful permanent resident under the age of 21;
A foreign national who is the sibling of a U.S. citizen or lawful permanent resident, provided they are both under 21;
A foreign national who is the child, foster child or ward of a U.S. citizen or lawful permanent resident, or who is a prospective adoptee seeking to enter the United States on an IR-4 or IH-4 visa;
A foreign national traveling at the invitation of the U.S. government for a purpose related to containment or mitigation of the COVID-19 virus;
A foreign air or sea crewmember;
Certain A, C, E-1 (TECRO or TECO employees), G, and NATO nonimmigrants or whose travel falls within the scope of section 11 of the United Nations Headquarters Agreement;
A foreign national whose entry would further important U.S. law enforcement objectives;
A foreign national whose entry would be in the national interest; and
Members of the U.S. armed forces and their spouses and children.

An updated guideline will be issued by the US government which may allow the travel of those Indian citizens who can apply for travel to the US under the national interest exception.

For more information and legal opinion contact our office.

April 29, 2021

Are you looking for a second home in the world!

By Ajmera Law Group Residency & Citizenship by Investment

A quick analysis of the Residency & Citizenship by investment program of the world!!

Ajmera Law Group’s analysis and comparison of RCI programs of several countries will surprise you.

To attract the right kind of global businesspersons and entrepreneurs to their countries, two G-7 countries have reduced the investment amount which is now the lowest in the world.

Name of the country	Investment amount	Name of the visa program
USA	US$ 200,000 to 1,800,000	Non-Immigrant L1, E2 visa, and Green card under EB-5
Ireland	€ 500,000	Permanente residency
Australia	A$ 500,000	Business innovation Stream (Provisional to PR)
New Zealand	NZ$ 100,000	Permanente residency
Canada	CD$ 100,000	PNP Business program ( temporary residency to PR)
UK	£ 50,000	Innovator visa (ILR)
Malta	€ 250,000	Permanente residency
Cyprus	€ 300,000	Permanente residency
Portugal	€ 350,000-500,000	Golden Visa – Permanente residency
Spain	€ 500,000	Golden Visa – Permanente residency
Greece	€ 250,000	Golden Visa – Permanente residency
Bulgaria	€ 512,000	Permanente residency
Turkey	US$ 250,000	Citizenship
Grenada	US$ 150,000	Citizenship
Carrabin Countries	US$ 100,000+	Citizenship

February 10, 2019

What Question investor should asked for EB-5 investment?

By Ajmera Law Group EB-5 US Investor Visa, Green Card, Investor Visa, Regional Centers, Residency & Citizenship by Investment, USA

How to select your EB-5 project and make a safe investment in the EB-5 project?

Regional Centers, Broker dealer, Agent, and mortgage broker who is showing you EB-5 project, you should ask the following questions.

What year was the Regional Center first approved by USCIS?
How many EB5 projects have the Regional Center completed?
How many I-526 and I-829 approvals obtained by the investors in the Regional Center.
May I have a copy of the PPM _ Private Placement Memorandum) so I can review the credit agreements for the senior bank loan and the other loans?
Is it true that the EB-5 loan is the last loan to be repaid because the Senior Bank Loan will be paid first?
Does the EB-5 loan have a security interest in real estate or in the assets of the developer or Regional Center?
May I have a copy of the EB-5 insurance policy? Does the policy cover the 3 primary reasons for application denial: fraudulent statements, criminal background and source of funds issues?
If the project doesn’t sell as quickly as expected, could the EB-5 loan be extended beyond 5 years?
If the project sells for 15% less than expected, could I lose all or a portion of my investment?
Where is the money coming from to pay the interest on the bank loan?
Does the Fund provide the letter from the senior bank loan and the private loan as well as the Targeted Economic Area?

Find out these answers and consult our law firm to compare answers with Regional centers we work with and answer provided by them to these questions.

Email: prashant@ajmeralaw.com

August 21, 2018

20+ migration options for H1B and L1 visa holders

By Ajmera Law Group Canada Business Immigration, Canada PNP Program, Citizenship, EB-5 US Investor Visa, Residency & Citizenship by Investment, Second Passport

Canada immigration for H1B visa holder, L1 visa holder and other visa class having temporary status in USA

Is your child, relative or friend facing a problem with H1B visa, L1 visa or any other visa in USA?

No worries. They can now breathe easy knowing that there are several options available to them to acquire legal status in USA. If they wish to move out of USA, they can also choose from more than 20 other countries around the world. This short video will give them all possible options:

USA EB-5 investor program:

Make an investment of 1,000,000 US$ in a new business and create 10 jobs or
Make an investment of 500,000 US$ in a new business and create 10 jobs provided this business is in a TEA area or high unemployment area.
Investment can be in form of Debt /Loan, Equity or fund.

Good projects can secure:

-your principal amount

-a good return and

– processing time is as short as 3 months to 13 months for the first I-526 petition approval.

Canada skilled worker immigration:

You can qualify under this program if you have –

A Master’s degree
Minimum of 3 years of work experience
Are preferably under the age of 35 years or better still, under 29 years of ageand
Have an IELTS score of 8 in listening and 7 in each of the other three categories

Start Up immigrant visa of Canada:

You can qualify for this visa if you have started a company that can be –

Incubated by Canada Government approved incubators or
If angel investors make an investment of 75,000 CD$ in your company or
If a VC makes an investment of 200,000 CD$ in your company
And if you have the required IELTS score and post-secondary education

There are 10 different business immigration programs of Canada:

In general, you need to fulfil the following basic criteria for all of them –

Possess net assets of 500,000 CD$ and above
Have 2 to 3 years of business experience or senior executive experience
Have a viable business plan to start a new business, purchase an existing business or enter into a joint venture with another company
Have an IELTS score of at least 5 band in each category

UK Tire 1 immigration:

To qualify under this program you need to have –

Net assets of 200,000 pounds or more
IELTS band of 4 to 5 in each category
A viable business plan which will create 2 jobs

Citizenship of Malta (EU member country):

If you wish to obtain the citizenship (passport) of Malta, a European Union member, you will need to –

Make a donation of €650,000
Purchase bonds of €150,000
Purchase a residenceworth€350,000 or rent a residence worth€16,000 per year

Children under 26 years and parents can be included under this program

Residency of Malta:

If you wish to obtain the residency of Malta, you will need to –

Make a contribution of €30,000
Purchase bonds of €250,000
Purchase a residence worth€270,000 or rent a residence worth€10,000 per year

Children under 26 years of age and parents can be included under this program

Citizenship of Cyprus (EU member country):

If you wish to obtain citizenship of Cyrpus, an EU member country, you will need to-

Purchase real estate/property worth€0 to 2.5 million
Permanently maintain a residential property of €500,000 (you can sell other assets after 3 years)

Children under 25 years and parents can be included under this program. There are no language, minimum age and education requirements

Residency of Cyprus:

If you wish to obtain the residency of Cyprus, you will need to –

Purchase real estate/property worth €300,000
Make a bank deposit of €30,000
The applicant must provide proof of secured annual income of at least €30,000 outside of Cyprus. This income must increase by €5,000 for every additional child and €8,000 for each dependent parent.

Children under 25 years of age and parents can be included under this program. There are no language, minimum age and education requirements

Residency of Greece (EU member country):

If you wish to obtain residency of Greece, you will need to –

Purchase real estate worth €250,000 or more

Children under 21of age and parents included can be included under this program. There are no language, minimum age and education requirements. Under this program, applicants cannot work for someone but can operate their own business.Applicants can apply for Greek citizenship after 7 years

Residency of Portugal(EU member country):

If you wish to obtain residency of Portugal, you will need to –

Purchase real estate worth €500,000 or more (lesser amount investment possible)

Children under 18years of age and parents can be included under this program. There are no language, minimum age and education requirements. Applicant can work as well as operate their own business

Residency of Spain ((EU member country):

If you wish to obtain residency of Spain, you will need to –

Purchase real estate worth €500,000 or more

Children under 18 years of age and parents can be included under this program. There are no language, minimum age and education requirements. Applicant can work as well as operate their own business. Medical insurance is required.

Second passport of Europe – Bulgarian Citizenship (EU member country):

If you wish to obtain a second passport and easy access to European markets, you can opt for Bulgarian citizenship. To qualify, you will need to –

Invest €500,000 for Permanent Residence in government bonds
Invest €1 million for Citizenship in government bonds

Loans are available for making the required investment. Upon approval, applicants can live, work, operate a business and study for free/with reduced fee in any member EU country.

Citizenship of Dominica in 3 months:

If you wish to obtain citizenship of another country in a short period of time in a hassle-free manner, you can apply under Dominica’s Citizenship & residency Program. To qualify, you will need to –

Make a donation of $100,000 US or more OR
Make aninvestment in real estate of $200,000 US or more for 3 years

Children under the age of 30 years, parents above 55 years of age &grandparents can be included under this program. There is no taxation on income earned abroad and one can obtain NRI Status plus visa free travel to more than 120 countries around the world. Easy access to medical schools in USA for children

Citizenship of Grenada in 3 months:

If you wish to obtain citizenship of another country in a short period of time, you can apply under Grenada’s Citizenship & residency Program. To qualify, you will need to –

Make a donation of $200,000 US or more OR
Make an investment in real estate of $350,000 or more for at least 5 years

Children under the age of 29 years and parents above 55 years of age can be included in the application. There is no taxation on income earned outside of Grenada and one can obtain NRI Status plus visa free travel to more than 120 countries around the world. Easy access to medical schools in USA for children and E2 Business visa of USA.

Citizenship of St Kitts and Nevis in 2 months:

If you wish to obtain citizenship of another country in a short period of time, you can apply under for citizenship of St Kitts & Nevis. To qualify, you will need to –

Make an investment of at least $400,000 US in one of the approved real-estate developments OR
Make a donation of $250,000 US to the Sugar Industry Diversification Foundation (SIDF, a public charity)

Children under the age of 30 years and parents above 55 years of age can be included in the application. There is no taxation on income earned outside of the island country and one can obtain NRI Status plus visa free travel to more than 150 countries around the world. As a Commonwealth citizen, applicant receives certain preferential treatment in the United Kingdom. Two or more applicants may apply for citizenship together by purchasing one piece of real estate.

Citizenship of Antigua & Barbuda in 3 months:

You can obtain second citizenship or a second passport of this beautiful island nation within a short period of time. To qualify, you will need to –

Make a contribution to the National Development Fund of at least $100,000 US OR
Make an investment in designated, officially approved real estate with a value of at least $400,000 US OR
Make an investment in an approved business of at least $1,500,000 US

Dependent children and dependent parents over 65 years of age can be included under this program. There is no minimum net worth requirements or previous business experience needed. Visa free travel to more than 135 countries around the world. No taxation on income earned outside of St Kitts & Nevis

Citizenship of St Lucia in 3 months:

You can obtain second citizenship or a second passport of this beautiful island within three months. To qualify, applicant will have to –

Choose from four options which range from an investment amount of $100,000 US to $3,500,000 US. These four options are –
Saint Lucia National Economic Fund
Real Estate Projects
Enterprise Projects
Government Bonds

Dependent children under 25 years of age, dependent parents above 65 years and mentally or physically challenged dependent children and/or parents can be included under this program. Visa-free travel to over 120 countries around the world. No taxation on income earned outside of StLucia. Under the Enterprise Project option, two or more applicant can make a minimum investment of $6,000,000 US, with each applicant contributing no less than US$1,000,000.

Business Immigration to New Zealand:

You can apply for conditional business residency of New Zealand. To qualify you need to –

Invest $100, 000 NZ in capital investment and run a business for 2 years OR
Invest $500,000 NZ in capital investment and run a business for 6 months
Have a business plan that will help NZ economy
Be fluent in English and serious businessmen only

After obtaining a business permit, applicant can apply for Permanent Residence of New Zealand after 3 years.

Investment immigration to New Zealand – $3 million:

You can apply for direct PR of New Zealand through investment. To qualify, you will need to

Have $3million NZ in available assets
Invest $2.5million NZ in real estate
Have 3 years of business/management experience
Have basic English skills (IELTS 3 band or equivalent)
Be under 65 years of age

Investment immigration to New Zealand – $10 million

You can apply for direct PR of New Zealand through investment. The highlights of this program are –

Must have $10million in available assets
There is no age requirement
Can invest in a variety of assets class
No minimum residency requirements

Business Immigration to Australia – Business Visa Class (188A):

You can apply for temporary PR of Australia. To qualify, you will need to –

Have a business turnover of $500,000 AU and 30% (private company) or 10% (private limited company) ownership
Have net assets of $800,000 AU
Have a business turnover of $300,000 AU in Australia
Manage a business in Australia for 2 years

Business Immigration to Australia – Investor Visa Class (188B):

You can apply for temporary PR of Australia. To qualify, you will need to –

Have net assets of $2.25 million AU
Own and manage a business of $1.5 million AU
Invest 1.5 million AU in governmentbonds

If you keep your investment for 4 years and have minimum residency for 2 years, you can be eligible for permanent PR and citizenship after 5 years.

Business Immigration to Australia – Significant Investor Class (188C):

You can apply for temporary PR of Australia. To qualify, you will need to –

Invest $5million AU in Australia (various options available)
Stay 160 days in 4 years in Australia to get permanent PR
No age limit

Business Immigration to Australia – Business Talent – Significant Business History (132A):

You can apply for direct PR of Australia. To qualify, you will need to –

Own & manage a business with a turnover of $3 million AU
Have ownership of 30% (private) or 10% (public) in the company
Have net assets of $1.5 million AU that can be transferred to Australia
Invest$400,000 AU in Australia

July 28, 2018

Simplifying the EB-5 Program – Investing in EB-5 business as a debt, equity partner or in the fund?

By Ajmera Law Group Citizenship, EB-5 US Investor Visa, Green Card, Regional Centers, Residency & Citizenship by Investment

Of late a large number of regional centers have entered into the EB-5 market, offering a variety of investment choices to investors. This has resulted in investors becoming more and more confused regarding the most appropriate investment option most suitable to their needs and long term goals.

I regularly meet clients who have a very sound financial background, yet are completely lost when choosing the right EB-5 investment.

Here are the three most common offerings in the EB-5 market at present:

DEBT Model:

98% of the offering in the EB-5 market is using this model. This model involves three entities:

(i) The company who has been granted the ‘Regional Center(RC)’ approval

(ii) The developers who have incorporated a company or LLP -1 for the project, and

(iii) Another LLP-2 which is used as an investment vehicle for EB-5 purposes.

As an investor, you will be making investment in LLP-2 which will loan fund to LLP-1. In return, LLP-1 will give credit for all jobs created in the project to LLP-2so as to meet the mandatory ‘Creation of 10 jobs’ requirement of the EB-5 program.

Investment is generally made for a period of 5 years and at the end of 5 years, the capital is returned to the investor by taking a second mortgage.

LLP-1 also offers interest to EB-5 investors which can be in the range of 1%-4% per annum. Ideally, if all these three entities are managed by one single developer company, then this particular EB-5 project can be considered a good selection.

However, in reality, we see that RC approval is obtained by one entity, which then seeks out a developer to develop the project and an entirely different third company is involved in marketing the project. If you do adequate research you will find that there are very few developers who are directly involved in the marketing of their project.

In these type of projects, the local banks havethe first claim, promoters have second claim and EB-5 investors have the last claim to receive any money in the event of project failure.

EQUITY Model:

Very few companies are currently offering the equity option for EB-5 investment. In this model, only one company or LLP is created by developers of the project and EB-5 investors are required to make an investment in this particular LLP only. EB-5 investors give the managing rights to the developers. In this model, the investors are not given any fixed returns but are offered a percentage of the profits as and when the project becomes profitable, while the developers take only a small portion of the profit.

In this model, the risks are higher but returns can be as high as 10%-12% per annum. Some of the hotel projects for which our law firm has raised EB-5 investment capital were based on this model and have consistently given good returns.

In many EB-5 projects, there are no loans from local banks or lenders except bridge loans. Because of this, the properties are mortgage-free right from day one and chances of failureare very low,while those of good returnsare very high.

In case the project fails, the capital can be distributed amongst all the EB-5 investors as compensation since there is only one class of investors.

FUND Model:

Quite a few RCs are offering this model now. In first two options, there is one project and one company or LLP. In the Fund model, a fund of a certain predetermined amount is created to loan money to several projects and hence the risk is distributed equally among several projects. An annual fixed return is given to investors which can be in the range of 1%-3%.

Simply put, the first model can be compared to a debenture, the second one to a share investment and the third one to a mutual fund investment. Each model has its own pros and cons. However,the bottom line is that a viable EB-5 project must have good developers who have a successful track record in non-EBB and EB-5 project development.

This article outlines very general information regarding EB-5 investment options for the sole purpose of easy understanding for investors at large. Each investor must seek appropriate legal advice and consult their financial advisers before making any kind of the investment.

July 28, 2018

Real Estate Market Overview of Cyprus, Europe.

By Ajmera Law Group Cyprus Residency Visa, Europe, Investor Visa, Residency & Citizenship by Investment

Cyprus real estate market is ready for Indian investors and developers alike.

Cyprus is small island country in the Mediterranean region south of Turkey. The island’s natural beauty and its dynamic real estate market has attracted the attention and investment of HNIs and businessmen all over the world. The most attractive facet of investing in Cypriot real estate is that it can get you and your family residency or citizenship of this country. Hence you can become a resident of the EU by purchasing real estate in Cyprus thus gaining automatic access to the huge European market.

It is true that the Cypriot economy was heavily affected during the economic crisis of 2013 that brought many European economies to the brink of collapse. But interestingly, Cyprus was one of the few countries that was able to turn the tide around rather quickly. Now the Cypriot economy is thriving under its able administration.

The real estate market of any country directly reflects the overall performance of its economy. After the 2013 crisis, the government of Cyprus introduced the Residency & Citizenship program fornon-EU citizens. Under this program, investors making an investment of €350,000 in real estate are granted Cypriot residency and those making an investment of €2 million to €2.5 million in other various combined assets, including residential real estate of €500,000, are granted Cypriot citizenship.

The Cypriot Residency & Citizenship program is one of the most attractive and value-for-money programs in the world. It has garnered interest not only from investors but also reputed developers who have entered into joint ventures with local developers.

This has increased the confidence level of the local real estate market and consequently the economy. The GDP growth in 2017 was 3.4 % and International Monetary Fund (IMF) predicts further GDP growth of 2.6% in 2018.

Due to strong market indication and high demand for real estate across Cyprus, there was a substantial increase in real estate transactions and new construction permits in 2017.

Interest from foreign buyers for high end properties (€1.5 million and above) has increased by 45% in 2017.

Growth in all property price indices was recorded during 2017, reflecting the increased demand and activity levels in the real estate sector.

Following are the highlights of the real estate market in Cyprus during the year 2017:

There was 49% increase in the value of new building permits. The capital city of Cyprus accounts for 35% of the total permits or market share.
There was 24% increase in sale contracts across Cyprus. Though the capital is Nicosia, Limassol is the country’s financial capital and it recorded 35% of the total transactions. At the same time, Famagusta recorded the highest annual growthof 44%in number of sale contracts during 2017. Nicosia recorded a growth of 42%.
There was an increase of 33% in sale transactions by foreign buyers. Paphos and Limassol are the most popular destinations among foreign buyers. However, during my recent visit to Cyprus, I observed that the Ayia Napa area is not very popular among investors and is an attraction only for tourists. This area has great potential for foreign investors.
There was a rise of 45% in the purchase of high-end real estate as these purchases are directly connected with Europe passport/ Cyprus citizenship program.

Experts believe that the Cypriot real estate market will be doing really well in the coming years.

As attorneys, we assist Indian HNIs and developers to make suitable investmentsin Cyprus and manage all legal aspects associated with the process.

E-mail us at: info@ajmeralaw.com for more information visit www.ajmeralaw.com

July 14, 2018

EB-5 and Residency and Citizenship by investment conference in LA, USA

By Ajmera Law Group EB-5 US Investor Visa, Events, Residency & Citizenship by Investment, Second Passport

EB5 Investors Magazine is organizing in Los Angeles EB-5 Convention at The Westin Bonaventure Hotel and Suites on July 23-24, 2018.

This two-day educational, networking event will host a gathering of broker-dealers, developers, immigration and securities attorneys, migration agents, regional centers and other EB-5 program stakeholders.

The conference not only about EB-5 but speakers and panelist are coming from all over the world to talk about Residency & Citizenship program of various countries.

The event will also feature special guest speakers and sponsorship opportunities.

The lawyer from our law firm Mr. Prashant Ajmera will be speaking at this conference as one of the panelist speaker at India : Market Spot Light. www.ajmeralaw.com

More information about this conference can be fond at Read More

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Prashant Ajmera & Associates

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