EB-5 From India
While the EB-5 visa has becoming increasingly popular in India, it remains under-utilized by a country of 1.3 billion people. In the past few years, the number of EB-5 petitioners from India has doubled each year, yet the total number of petitions filed in FY 18 was just over 800. By contrast, Chinese have filed tens of thousands of EB-5 visas in the past few years. More Indian nationals (India, Dubai, Singapore, Hong Kong, Canada and the UK) are utilizing the EB-5 over the past three years, but there is much more room for expansion for additional EB-5 filings by Indians, before the type of backlog afflicting China comes into play. The EB-5 visa option for Indians is still a streamlined Green Card process which does not require the applicant to have either a job offer or specific educational qualifications; but instead requires a minimum investment of $500,000 in a job-creating, new commercial enterprise; coupled with the creation of 10 new jobs; and a requirement that your funds remain "at risk" over a period of two years after you are issued your Conditional Green Card.
EB-5 From India General Information:
The EB-5 program is very complex and requires a great deal of expertise by your advisors, not only on immigration issues, but on transactional issues as well. GMLG is skilled and experienced at helping its clients navigate both of these processes. We scrutinize every aspect of the transaction for immigration compliance to ensure you’re well positioned to obtain your Green Card, and we also review the transactional documents with you to make sure you fully understand your rights and responsibilities as investors. We are not tax or securities lawyers, but we do work with some of the very best who are, and we are happy to refer you to them for counsel, and then work to coordinate all of the professional advice you and your family require.
Advantages Over The EB-2 & EB-3 Visa Programs:
Many in India have tried to immigrate on EB-2 and EB-3 visas. As you know, both EB-2 and EB-3 require various job and educational requirements that many individuals or their university-aged children cannot meet.
Additionally, the EB-2 and EB-3 programs have been over-utilized by petitioners over the past decade, and thus have enormous delays for the issuance of visa for citizens of India. For Indian applicants, the EB-2, the program is delayed almost 10 years (to April 2009) and for EB-3 the program is backlogged almost 10 years (to June 2009).
But, the EB-5 program is current, and underutilized by every country’s applicants but China & Vietnam, and so there is currently no delay for the issuance of EB-5 visas to Indian nationals.
Advantages Over H-1B After F-1 Or OPT:
Many Indian students study in the U.S. on the F-1 visa status. However, after graduation, Indian students must find job sponsors to qualify for OPT or the H-1B visa. OPT is increasingly difficult to obtain as employers are wary about hiring people who may not be able to stay more than one year; and even when you have a STEM extension, employers are concerned about thereafter . The H-1B is also a very challenging solution, as there are only 65,000 annual visas, and 20,000 Masters degree visas, with 200,000 applications for FY 2018, and so one needs to win a lottery to even be considered (in addition to having a job sponsor). EB-5 provides a solution to both, as even having on your CV that you applied for an EB-5 or are a derivative beneficiary of your parent's EB-5 petition can help you secure a job.
Reserve Bank Of India (RBI) Restrictions:
The Reserve Bank of India in February 2015 increased from $125,000 to $250,000 per person, the amount of funds that Indians can take out of India per fiscal year (the fiscal year in India ends on March 31st). Non-resident Indians (i.e., students on F visa and H & L visa holders) can remit up to $1,000,000 per fiscal year from India. GMLG has worked successfully with all of our Indian clients to conform to the applicable RBI restrictions, while permitting them to still transfer the required EB-5 investment funds and associated regional center management fees with no complications and in full compliance of the RBI's requirements.
Our lawyers and staff, both in the U.S. and on the ground in India, are committed to making this process as effortless and comforting for you easy as possible. We do that by focusing on quality, rather than quantity. GMLG puts its effort into making sure that your visa petition is prepared with complete accuracy and attention to detail, and as much personal attention and direct contact with our attorneys are you require.
Led by William P. Cook, the former General Counsel of the U.S. Immigration & Naturalization Service (INS) when the EB-5 program was created in 1990, we draw on expert knowledge, backed by over 25 years of immigration law experience on behalf of our clients.