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US immigration fund to set up offices in Mumbai, Delhi to tap new brand of Indian investors

Mumbai, Oct 6 (UNI) In a strategic move that is aimed at creating a new brand of Indian investors, the US Immigration Fund has decided to set up initial offices in major Indian cities, including both Mumbai and Delhi.
Speaking at a press event here on Thursday, Nicholas A Mastroianni II, the chief executive officer and chairman of the multi-billion dollar US Immigration Fund, said, "India is fast catching up with China in creating investors who believe in expanding businesses overseas."
Mr Mastroianni, who is the co-founder of USIF, believed that India will be a significant country for EB-5 visas given its 1.3 billion population with fairly large and growing middle and upper class that is highly educated and represents a sophisticated demographic.
"Over the last eight years, the usage of EB-5 visas from native Chinese citizens has grown more than 2,000 per cent, accounting for 77 per cent of the 10,000 EB-5 visas issued per year. Given India’s similar demographic profile as China, USIF believes India will be the second largest user of the employment-based Fifth Preference (EB-5) category in just one year," Mr Mastroianni was quoted in a release.