EB-5 FROM INDIA
While the EB-5 visa has becoming increasingly popular, it remains heavily utilized by applicants from China (86.8% of the visas issued in 2015). Therefore, it has been underutilized by Indian nationals (only 71 visas were issued in 2015). The EB-5 visa is 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 over a period of two years.
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 AND 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 12 years (to November 2004) and for EB-3 the program is backlogged almost 12 years (to October 2004).
But, the EB-5 program is current, and underutilized by every country’s applicants but China, and so there is 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 (which lasts a very limited time) or the H-1B visa (also rate-limited to a maximum of 6 years in most cases). OPT is a very temporary solution as it generally only lasts for one year. The H-1B is a very risky solution as there are only 65,000 annual visas, and 20,000 Masters degree visas, with over 236,000 applications for FY 2017, and so one needs to win a lottery to even be considered (in addition to having a job sponsor).
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 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.
EB-5 WITH GMLG
Our lawyers and staff 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.