I’m Ravi Pochamalla, an EB-5 investor from India who invested in EB5AN’s Saltaire St. Petersburg project. Deciding to invest in the EB-5 visa has been a truly life-changing decision—the best investment I’ve ever made. Both the financial and immigration benefits of the EB-5 program have been impressive.
Many EB-5 investors are unsure whether they can get immigration benefits while also receiving a high return on their investment. The key to achieving both of these goals is to select a reliable regional center and project developer.
I hope my experiences will help other EB-5 investors find both immigration and financial success.
Why I Made an EB-5 Investment
Choosing EB5AN’s Saltaire St. Petersburg Project
Choosing an Immigration Attorney
Benefits of Making an EB-5 Investment
My Advice for Other EB-5 Investors
Watch Ravi’s Full Interview
Why I Made an EB-5 Investment
In 2013, when I first arrived in the United States as a master’s student, the thought of permanently settling here hadn’t fully formed in my mind. However, my initial uncertainty about settling in the U.S. gradually gave way to a firm decision to build my life here. The turning point was in 2015, when I transitioned from a student to an H-1B visa. This shift marked the beginning of a challenging phase, dominated by the limitations and uncertainties of the H-1B visa.
The decision to transition to an EB-5 investment was not taken lightly. My initial attempts to secure a Green Card through the EB-2 visa were met with extended wait times. This uncertainty, coupled with the rigid conditions of the H-1B visa – like sticking to one job, the inability to take multiple days off, and the constant search for companies willing to sponsor my visa – made my life in the U.S. more complicated than I had anticipated.
The real challenge was the constant relocation. Settling in one place, like Philadelphia, and then having to uproot my life for a job in California, was not only inconvenient but also stressful, especially with the looming threat of unemployment exceeding 60 days.
Determined to find a better solution, I began researching the EB-5 projects. My focus was on finding a reliable and successful investment option that would expedite my Green Card process while offering a safe and profitable venture. This led me to EB5AN, a prominent regional center operator in the industry. Their credibility, confirmed through the USCIS website, and the comprehensive information and assistance they provided, played a crucial role in my decision.
Choosing EB5AN’s Saltaire St. Petersburg Project
Selecting the right project for my investment was crucial. In 2019, I explored various projects before deciding on the Saltaire St. Petersburg project developed by Kolter. What stood out about this project was its location and Kolter’s track record of successful EB-5 projects. The project promised a 6% equity return, which at the time was one of the highest I had encountered. This, combined with the developer’s proven success, gave me confidence in my decision.
My visit to the project site, which was then just a parking lot, was a significant moment. It was my way of conducting due diligence, ensuring that my investment was not just a leap of faith but a calculated decision.
The regular updates from EB5AN throughout the project’s development played a crucial role in maintaining my confidence in the investment. These updates included progress reports, pictures of the construction, and information about the sales and investments. This transparency was a stark contrast to other projects I had considered in North Carolina, Ohio, and New Jersey, which lacked either a successful track record or the level of communication that I experienced with EB5AN.
The Saltaire St. Petersburg project not only aligned with my financial goals but also resonated with my aspirations as an immigrant seeking a permanent home in this country.
Choosing an Immigration Attorney
Choosing the right immigration attorney was a critical step in this journey. I had to ensure that my attorney was not only well-versed in EB-5 applications but also knowledgeable about non-immigrant visas. This was crucial since I was transitioning from an H-1B visa.
After extensive research, I selected Christian Triantaphyllis. Christian’s experience in handling both immigrant and non-immigrant visas made him the ideal choice for my situation. The application process, though hectic, was meticulously handled by Christian. He emphasized the importance of ensuring every detail was accounted for, especially concerning the source of my funds. This thoroughness, though it delayed the process, was vital to avoid any issues during the adjudication of the application.
The EB-5 process demands a clear understanding of where the investment funds originate. For me, it was essential to prove that my investment of $500,000 (the required amount at the time) was legitimate, sourced both from India and the U.S. Christian was instrumental in guiding me through this. He provided a secure platform for document submission, ensuring the safety and confidentiality of my information. His approach was methodical and unhurried, especially as we approached the deadline for the $500,000 investment limit.
Benefits of Making an EB-5 Investment
The investment indeed paid off. Despite the challenges posed by Covid, the project commenced as planned, and I was kept informed throughout with all necessary documentation for tax purposes. After three years, I received an investment return of $95,000, a testament to the project’s success and the reliability of EB5AN.
Investing in the EB-5 program was more than a financial decision; it was a life-changing one. It resolved many challenges I faced as an H-1B visa holder. The EB-5 investment granted me an Employment Authorization Document (EAD) and advance parole (a travel permit), allowing me greater job flexibility and the freedom to travel. These benefits culminated in me buying a house in Austin and enjoying a lifestyle I had always aspired to.
Embarking on the EB-5 investment journey was a pivotal decision in my life, and reflecting upon it after four years, I can confidently assert it’s one of the best decisions I’ve made. The process, though intricate, has brought significant rewards, not just financially, but also in terms of personal and professional freedom.
Before the EB-5, my life as an H-1B visa holder was fraught with constraints. I had to maintain a job in a specific state, at a specific location, which was crucial for me, especially after getting married and desiring to settle down in one place. The challenges of finding projects in a particular city added to the complexity. However, obtaining an EAD and advanced parole through the EB-5 program changed everything. These documents freed me from the limitations I faced on the H-1B visa, making my professional life significantly smoother and more flexible.
One of the most profound impacts of the EB-5 investment has been on my travel freedom. With advanced parole, international travel became a breeze. I’ve traveled to Europe, the Bahamas, India, and other countries without the hassles associated with H-1B visa stamping. This aspect is especially notable given the current difficulties in obtaining H-1B stamping in India. Advanced parole has afforded me the luxury of visiting loved ones back in India whenever I desire, without the anxiety and uncertainties surrounding visas.
My Advice for Other EB-5 Investors
Reflecting on my experience, I would like to offer a piece of advice to prospective EB-5 investors.
The key to a successful EB-5 investment lies in the careful selection of the project and the regional center. It’s imperative to choose projects with a proven track record of success. Look for projects that are compliant with the targeted employment area (TEA) criteria set by the United States Citizenship and Immigration Services (USCIS). Projects like EB5AN’s Boynton Beach, which are TEA compliant, often have a portion of their visas set aside, such as 10% for TEA projects.
In summary, the EB-5 investment not only offered me a return on investment but also provided invaluable benefits like job flexibility, freedom to travel, and the ability to plan my life without the constraints of traditional visa limitations. For those considering an EB-5 investment, I emphasize the importance of diligent research and selection of TEA-compliant projects to ensure a smoother and faster application process.
