EB-5: Gateway of Opportunity for Indian Investors Seeking US Immigration
In an exclusive interaction with Faiz Askari of SMEStreet, John Linn, Director Operations – Asia Pacific and Andrew Graves, Director- Business Development – India for US Immigration Fund unleashed an overall opportunity scenario ahead of investors who wish to enter in United States. Unleashing the EB-5 program for investment and US Immigration he mentioned some lucrative opportunities for Indian investors who wish to explore the United States.
The edited excerpts:
Faiz Askari: Please unleash some key attractions of EB-5, what kind of opportunities are existing for investors who are interested in entering United States through EB5 plan?
John Linn: The EB-5 Regional Center Pilot Program (“Pilot Program”) is a federal government program managed by U.S. Citizenship & Immigration Services (“USCIS”). The Pilot Program became law in 1993. The Pilot Program permits the EB-5 Investor and his or her spouse and unmarried children under age 21 to become Lawful Permanent Residents of the U.S. (i.e., obtain “green card” status). This immigration program started becoming popular from 2008 onwards and have shown extremely sharp upwardly growth curve between 2011 and 2015.
Faiz: How is this program been performing for the Federal Government? What kind of investors are entering to US through this gateway?
Andrew Graves: We are witnessing great interest and action around EB-5 program. Particularly, EB-5 program has started showing great interest since 2008 onwards and in recent years the interest have multiplied. If we look at the impact of this program from 2007 onwards we can find out that USCIS received only 700 EB-5 visa petitions in 2007. That number grew to over 3400 in 2011. Over 90% of all EB-5 visa petitions are filed through investments Regional Centers. USCIS has approved more than 3,100 Form I-526 petitions in Fiscal Year 2012 to date. The Pilot Program has a total of 10,000 EB-5 visas available for it each year. No waiting lists exist at present. Most EB-5 investors originate from China.
We have experienced extraordinary growth and change here at U.S. Immigration Fund, thanks largely to our continued commitment to strong partnerships with world-renowned developers, international immigration agents, attorneys and recognizing the trust of our investor above all else
FA: What are the key benefits that an investor will get by entering into United States through EB-5?
Andrew Graves: The EB-5 Investor Visa program presents outstanding opportunities for many overseas investors to become permanent residents of the United States. Choosing to invest in an EB-5 Visas program allows foreign investors, their spouse and children (under the age of 21) to obtain conditional green cards so that they can attend school, legally work in the United States if they so choose or simply enjoy retirement while living anywhere in the United States. All of this while creating jobs, promoting economic growth and improving productivity within the geographic region.
Now, as a key attraction this can ensure a great prospect for students who wish pursue study in any of the United States University. The immigrant student can get better prospect for the admission by becoming a local student. The parents can make great savings in the entire education expenses of their children.
FA: What role does US Immigration Fund is playing in attracting investors
Andrew Graves: With a vast pool of knowledge, experience and expertise, USIF (US Immigration Fund) has strengthened its position as the premier EB-5 Regional Center in the United States. It continues to work with the multiple government agencies and organizations to further extend the EB-5 Program and allow future investors the opportunity to participate in this outstanding program. The company’s proven track record provides investors with the wherewithal to navigate the immigration process and ultimately obtain their permanent residency. USIF has successfully reached key milestones, raised billions in EB-5 capital, created thousands of jobs, receiving 100% approval from the United States Citizenship and Immigration Services (USCIS) on all adjudicated projects.
What are the key priorities of USIF for attracting the Indian investors?
Andrew Graves: USIF continues to set the bar for the industry, innovating new communications and processes for the investors on a consistent basis. Further, the company has an aggressive timeline for the development of new projects to deliver to the market and its commitment is unwavering to all of its shareholders and partners.
We highlight and provide worthwhile opportunities for Indian investors and their families to obtain permanent U.S. residency through the EB-5 Visa Program. With Regional centres in New York, New Jersey, Florida and California – U.S. Immigration Fund provides the perfect opportunity for international investors and their families to obtain green cards by investing in exciting U.S. Immigration Fund projects.
How do you look at the Indian market for US Immigration through EB-5?
Andrew Graves: USIF is highly selective and pursue those relationships that will yield the best long-term value for all parties involved. USIF believes that India will be a significant country for EB-5 investors given India’s demographics of 1.3 billion people, with a large middle and upper class who are highly educated and sophisticated. Today, India represents one of the largest countries applying through channels of United States immigration. India has a very similar demographic makeup as China and USIF believes it has the ability to be as productive a market as seen in China. Over the last 8 years the usage of EB-5 Visas from native Chinese Citizens has grown more than 2000%. With the proper education and marketing channels India could become the next largest user of the Employment Based Fifth Preference (EB-5) category in just one year.