In the last decade a growing number of Indian Citizens have been chasing their American citizenship and have acquired the same to live their american dream. According to reports by US Citizenship and Immigration Services (USCIS) 59,000 Indians were listed as bona fide US citizens in 2023, helping India secure the second slot after Mexico to source new citizens in America. With different visas levied to people depending on the requirement, there is a much desire in the immigrants to cement their roots in the US by getting the green card. However it isn’t as easy as it sounds, it takes about 12+ years to receive your permanent residence. People with H1 B visas get their green card in 5+ years, hence people have now turned their heads towards EB5 visas. In this blog we will get to know about the EB5 Visa program and how NRIs can seek the EB-5 Visa as an investment opportunity.
What is the EB-5 Visa?
The number of Indians chasing their American dream of acquiring permanent residency and green cards via the EB-5 Visa program has been slowly increasing in recent years. With around 676 EB5 visas issued to Indians in the Fiscal Year 2023, the popularity of this program is evident.
The EB-5 Visa program is an immigration initiative in the United States that offers foreign investors a lawful permanent residency (a green card) in exchange for an investment opportunity in the form of a certain amount of capital (ranging from $80k-$1 Million) in a qualifying U.S. business that creates or maintains a specific number of jobs for U.S. Its goal is to boost the American economy by encouraging foreign investors to invest capital and create jobs. People who apply for the EB5 Visa get their green cards within a short span of time. Upon making the investment the EB5 investor and if the family is in the picture receive a conditional permanent residence. After 18+ months if the investment has proved to be in accordance with the program then the investor and his family receive the permanent residence-ship (green card). Thus EB5 although costly can help in acquiring a green card at a much faster pace.
EB-5 VISA Popularity in India
The main reasons for the EB-5 VISAs amplifying popularity amongst Indian investors is that the program is paving a way and giving the applicants a chance to settle their family members in the United States and, at the same, being a legit way of investing money in a country, where there are maximum chances of it returning to them after a few years. There has been a strong interest in this type of investor visa from Indians who are already in the US on different visas, such as the H-1B, and are looking for a route to a green card.The EB-5 visa has garnered significant interest from Indian investors. The overall demand for EB-5 visas have increased by approximately 400% between 2016 and 2019, it dropped a little due to the pandemic but has again found its pace.
Indian EB-5 investors are frequently counseled to choose the regional center option over the direct investment option in order to avoid having to bear the direct responsibility for ten jobs being created in the United States. Nonetheless, a lot of Indian investors express interest in starting their own business and ultimately make direct investments. .
Strategic Approach for NRIs convert into EB5 Investors
EB-5 is a United States visa program, started by the U.S. Congress in the year 1990 by USCIS, that allows foreign investors to obtain a permanent U.S. Visa. EB5 Visa investment can be a very clever and long term investment opportunity which can help NRIs in many different ways,thus a strategic approach should be follow while highlighting the EB5 visa program for permanent residency :
1. Investment Opportunity:
Stress the advantages of investing in the US, such as availability to a strong economy, a variety of markets, and chances for company development and expansion. US being a developed country promises a better earning opportunity as compared to India. EB5 Visa Program Investment can also help to diversify the investment portfolio of an individual geographically.
2.Pathway to Permanent Residency:
Highlight the special benefit of the EB-5 program, which offers investors, their spouses, and their unmarried children under the age of 21, a direct path to permanent residency without the waiting period and hardships faced during the period.
3. Education and Lifestyle:
Highlight the standard of living, chances for education, and access to healthcare that EB-5 investors and their families can enjoy in the US. Many wealthy families in India see the EB5 Visa program as a means to provide their children with access to quality education. Once acquiring the green card there are many advantages one can get like lowering of tuition fees for colleges, opening of government job avenues and less property charges for the national residents.
4. Portfolio Diversification:
Present EB-5 investments as a means by which non-resident Indians (NRIs) can reduce the risks associated with the geopolitical and economic unrest in their home countries and diversify their investment holdings.
5. Address Concerns:
Like any other investment, investors should be well aware of the technicalities for the application of EB5 Visa investment. Concerts related to investment risk, potential changes in immigration structure and capital repatriation should be addressed beforehand.
Future for Indians and EB-5 Program
The Central Bank of India is currently focusing on encouraging Indian investors to make inward investments, and the EB-5 route is one of the ways that the country can fulfill its mission of strengthening economic partnership with countries like the United States. Steady influx of Indian investors into the EB-5 category due to further awareness about this channel of investment is to be anticipated.
