The EB-5 Immigrant Investor Program is a way for investors from India to obtain their U.S. Green Card, all while potentially avoiding the unprecedented backlogs in other employment-based visa categories.
Doing this successfully, however, requires careful planning and an understanding of specific challenges applicants from India may face. Staying informed is key to making the right decisions throughout the entire EB-5 process.
This article covers five key points for Indian Green Card applicants to consider when exploring the program.
1. Understanding Processing Times and Backlogs
2. Job Creation Without Employee Sponsorship
3. Managing Family Members’ Status
4. Currency Exchange and International Transfer Challenges
5. Planning for U.S. Citizenship
Professional EB-5 Guidance
1. Understanding Processing Times and Backlogs
A big challenge for Indian investors who are applying for a U.S. Green Card are the significant backlogs for EB-2 and EB-3 visa categories. The EB-5 program works to cut down on these backlogs by setting aside targeted employment area (TEA) quotas introduced by the 2022 EB-5 Reform and Integrity Act (RIA).
These TEA quotas, which apply to projects in specific rural and high-unemployment areas, are currently not backlogged, which can speed up the Green Card process. These faster times are compounded in rural projects, which also receive priority processing. In fact, some approvals for investors in EB-5 projects are happening as quickly as 12 months.
And for an even quicker transition, the U.S. Citizenship and Immigration Services (USCIS) allows EB-5 concurrent filing, which means investors can submit Form I-526E and Form I-485 at the same time. Concurrent filing is beneficial to those in the U.S. on a valid nonimmigrant visa—it lets them live, work, and study in the U.S. while their EB-5 application is being processed.
Of course, processing times can vary, so it’s important to stay informed and communicate with your immigration lawyer so you can better prepare your timeline.
2. Job Creation Without Employee Sponsorship
One of the advantages of the EB-5 program is that, unlike many other employment-based Green Card categories, it doesn’t require employer sponsorship. This aspect of the EB-5 program gives investors more independence and flexibility. However, it also requires a clear understanding of the program’s requirements.
Central to qualifying for the EB-5 visa is the job creation requirement. Investors must show that their investment will create or preserve at least 10 full-time jobs for U.S. workers. This can be done through direct or indirect job creation when investing through a regional center.
With the changes from the RIA, there are new limitations on indirect job creation, especially for construction projects. As a result, it’s important to select an EB-5 project carefully to make sure it has a solid job creation strategy.
Another thing to consider when choosing your investment approach is deciding between a direct EB-5 investment or a regional center investment. Direct investments are more hands-on, while regional center investments are handled more passively.
While there are typically fewer risks and requirements with regional center investments, there are still important regulations to consider. Because of this, working with a regional center that has a good reputation is essential.
3. Managing Family Members’ Status
The EB-5 program extends benefits to dependent family members of the primary investor—namely, their spouse and unmarried children under 21. This allows families to move and start their new lives together in the United States. But, to make sure this happens, attention to detail when managing family members’ status throughout the EB-5 process is crucial.
Applicants must include all eligible family members in their initial petition. Doing so prevents delays or other complications later. It’s also important to understand your family’s immigration status to help you manage everything more effectively.
For example, while your EB-5 application is pending, your spouse can apply for work authorization, and your children can enroll in U.S. schools. Efficiently managing all of this helps your family transition more easily to life in the United States and begin to reap the benefits of your EB-5 investment.
4. Currency Exchange and International Transfer Challenges
For Indian investors, making money transfers to the U.S. can be challenging. This is because of currency exchange regulations and international transfer restrictions. In essence, this stems from the Indian government setting limits on how much money can be sent abroad, which can affect how quickly your EB-5 investment gets funded.
Investors should know about the Reserve Bank of India’s (RBI) Liberalized Remittance Scheme (LRS), which governs the sending of money from India to another country. It can be hard to meet U.S. rules on providing a legal source of funds while also complying with these regulations. Investors should work closely with financial institutions and legal advisors who are experienced in international transfers.
With proper planning and the correct documentation of currency exchanges and fund transfers, Indian investors can avoid delays throughout the EB-5 process.
5. Planning for U.S. Citizenship
While getting a Green Card through the EB-5 program is an important step, the ultimate goal for many investors is U.S. citizenship. And planning for citizenship involves understanding the residency requirements and the naturalization process.
To be eligible for U.S. citizenship, Green Card holders have to meet certain residency requirements. These requirements include living in the U.S. for at least five years, being physically present in the U.S. for at least half of that time, and maintaining permanent resident status. This also means following U.S. laws, paying taxes, and avoiding behavior that could impact your eligibility for naturalization, such as misinformation in your documentation or spending a prolonged period of time out of the United States.
Once you meet the above requirements, you can begin the naturalization process. This process has a number of steps, which include submitting Form N-400, attending a biometrics appointment and interview, and taking an oath of allegiance to the United States.
Preparing for this process in advance can help make sure you meet all the requirements and are ready to take the final step toward becoming a U.S. citizen.
Professional EB-5 Guidance
While it may seem complex, careful planning and knowing the right information can boost your chances of a successful EB-5 application. Support from experienced immigration attorneys and trusted industry professionals is also helpful. These experts can provide you with guidance and help smooth out any issues that come up during your process.
This is where EB5AN comes in.
EB5AN has helped more than 2,300 families from 60 countries relocate to the United States as lawful permanent residents. Our expert team has more than a decade of experience and offers clients first-rate, low-risk EB-5 regional center projects with a 100% USCIS project approval rate to date.
If you need more information or guidance as you navigate the EB-5 program as an investor from India, feel free to book a one-on-one call with our team.
