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Monthly Archives: September 2024

Ajmera Law   →  2024   →  September
September 23, 2024
September 23, 2024

What Questions to Ask When Making an EB-5 Investment for a USA Green Card?

Author By ajmeralawim Categories Business Visa, EB-5 US Investor Visa, EB5 Regional Center Investment Visa, EB5 Standalon Investment visa, Immigration Visa, USA

What Questions to Ask When Making an EB-5 Investment for a USA Green Card?

 

Investing in an EB-5 project is a significant decision for obtaining a U.S. green card.

As with any large investment, thorough research and due diligence are essential.

Here are some crucial questions investors should ask before committing to an EB-5 project:

  1. What is the name of your regional center, and do you own or rent it?

Understanding the ownership structure of the regional center is important. Some regional centers rent their license from others, which can complicate oversight. USCIS compliance  and accountability.

  1. Has this regional center complied with the new EB-5 rules?

In March 2022, new EB-5 regulations were introduced. It’s critical to confirm that the regional center complies with these updated rules.

  1. Has USCIS approved the regional center’s compliance with the new rules?

Ask if the regional center has been officially approved by USCIS under the new regulations. This ensures their legitimacy and adherence to updated requirements.

  1.  Has USCIS approval for the project been received?

If not, inquire when the project petition was filed and when it will be approved. A project without USCIS approval may pose higher risks and EB5 petition cannot be submitted.

  1. How many projects has the regional center completed, and what is the success rate of each project?

Reviewing the regional center’s past performance can give insight into their success rate, both in terms of financial returns and the issuance of green cards to investors.

  1. Who are the project promoters, and what is their background and experience in the EB-5 industry?

Understanding the background, experience, and track record of the project promoters is critical. It’s essential that they have a solid understanding of EB-5 rules and regulations, as well as a history of managing successful projects.

  1. What is the percentage breakdown between bank loans, promoter equity, and EB-5 funds?

A sound financial structure is key to reducing risk. Clarifying how much of the project is funded by bank loans, the promoter’s own equity, and EB-5 investor funds will give a clearer picture of the project’s stability.

  1. How many jobs will be created per investor?

Each EB-5 investor must create at least 10 jobs to qualify for the green card. Ensure that the project has a solid job creation plan that meets or exceeds this requirement.

  1. Who is your immigration lawyer?

The immigration lawyer’s expertise in EB-5 filings can significantly affect the success of your petition. Ensure that the project is represented by a lawyer with proven experience in the EB-5 process.

  1. Who is the economist for the EB-5 project?

An economist plays a key role in analyzing job creation and ensuring the project meets EB-5 requirements. Make sure the economist is reputable and experienced in the EB-5 space.

  1. Who is your securities lawyer for the EB-5 project?

A securities lawyer ensures that the project complies with U.S. securities laws, protecting your investment from legal issues.

  1. Who will manage the escrow account?

The management of the escrow account should be handled by a reliable third party. This account ensures that your investment is safeguarded until the project meets certain benchmarks, such as USCIS approval or job creation.

  1. When does the regional center intend to refund the investment?
    It’s important to get a clear timeline on when the regional centre plans to return your investment, especially if the project does not meet the necessary criteria or if your EB-5 petition is denied. Is refund in fill, partial or any penalty of charge for a refund?

Investing in a friend’s or relative’s project in the USA can be a viable option, provided you feel comfortable asking critical questions and receiving transparent answers.

 

By asking these questions, you can gain greater confidence in the EB-5 project you’re considering and ensure that your investment leads to both a green card and a secure financial future.

 

The author of this article is Mr. Prashant Ajmera, an Indian immigration lawyer and Canadian citizen. He is the founder of Ajmera Law Group and the author of two books, “Millionaires On The Book” and “How to Plan for Your Child’s Foreign Education.” Over the past 30 years, he has assisted and advised over 30,000 students and families on planning their foreign education and settlement. He regularly speaks at various forums on this subject.

Ajmera Law Group: Mo: +91 9974253030 | info@ajmeralaw.com | www.ajmeralaw.com

 

September 18, 2024
September 18, 2024

Start Up Visa Canada: All You Need to Know

Author By ajmeralawim Categories Canaad Work Permit, Canada

Canada, a picturesque country with a growing population and diverse culture, is becoming a hub for immigrant entrepreneurs. This is all thanks to the Canadian government’s Start-Up Visa Program. As a prominent firm of immigration lawyers, we will take you through the program so you can make better decisions for your future. Let’s get in!

What is the Canadian Start Up Visa Program?

Also known as SUV, the Start Up Visa Program Canada was launched a decade back by the government. The idea was to attract foreign nationals willing to register their firms in the country, ultimately benefiting the economy. The program targets talented individuals or groups that will create jobs for the locals, start something unique, and compete with established global businesses.

The SUV program is a win-win for everybody involved!

What are the Benefits of the Start Up Visa Program?

The Canada Start Up Visa Program is an excellent way to join the budding economy. The program has changed many lives and will continue to do so.

One significant benefit of the SUV program is that the applicant’s direct family becomes eligible for Canadian citizenship. Additionally, the government offers permanent residency permits to the applicant, allowing him to leverage most benefits similar to those of a Canadian national. However, the applicant cannot engage in any activity associated with political cause.

Lastly, the SUV program offers investors an easy path to attain citizenship after living for three years in the country.

Why Should Foreign Nations Invest in Canada?

Canada is in an excellent position for foreign nationals to invest. The economy offers a promising future and a fantastic growth rate. Some lucrative reasons for investors to invest in the economy are:

  • Stable economy with excellent resilience to global events driven by the financial crisis.
  • Access to the marketplace of the biggest economy in the world – The United States, ensuring that you can secure a vast customer base by offering something of relevance.
  • The country’s high standard of living and rich mix of diverse cultures.

What are the Canadian Start Up Visa Requirements?

The primary requirements of a Canadian Start Up Visa are:

  • The applicant must have a letter of support from an authorized organization, i.e. a registered national angel investor, business incubator, or venture capital firm.
  • Investors should have a qualifying business.
  • The applicant must meet the country’s proficiency and language requirements.
  • The investor must have enough money and proof supporting their finances.

Conclusion

Canadian Start-Up Visa Program is a government-authorized program that warmly welcomes foreign investors into the economy. The government offers an easy pathway – Canada citizenship by investment in exchange for the money and jobs the investor brings into the country.

Please note that the process is highly time-consuming and challenging to crack, even if you know your eligibility. So, it is best to leave your immigration to our experts if you want to leverage everything Canada offers.

September 14, 2024
September 14, 2024

EB-5 Interest India is Not China – do not rush

Author By ajmeralawim Categories Uncategorized

**EB-5 Interest: India is Not China!**

**Don’t Rush and Make the Wrong EB-5 Project Choice**

The October 2024 Visa Bulletin from USCIS confirms my view.

Since 2014, EB-5 regional centers and project owners have been entering the Indian market, predicting that India would follow China’s path in terms of EB-5 demand due to the large populations of both countries. Many EB-5 projects in India are marketed with the warning that India’s EB-5 wait times will soon be as long as China’s.

However, based on my 30+ years of experience in the Residency & Citizenship Industry, I have consistently said over the past decade that India will never reach China’s level of EB-5 backlog. This is due to several reasons, including India’s economy, democratic system, cultural diversity, and even lifestyle differences.

The October 2024 Visa Bulletin from USCIS confirms this view.

For Indian investors, the priority date for EB-5 visa issuance (Table A) is January 1, 2022, and for EB-5 file processing (Table B), it’s April 1, 2022—dates aligned with the introduction of new EB-5 regulations. In contrast, China’s EB-5 priority date for visa issuance is July 15, 2016, and its file processing date is October 1, 2016.

Indian investors should carefully evaluate their options before selecting a project, whether it’s a standalone direct investment (under new rules, only one EB-5 investor is allowed per project) or a regional center project.

It is also crucial to work with an experienced EB-5 immigration attorney who has expertise in filing EB-5 petitions. Engaging just any lawyer may not suffice. An Indian immigration lawyer with experience in this area can also assist in documenting the source of funds, which is a critical aspect of EB-5 approval.

At our law office, we are currently managing cases filed in 2020-2021, which have received detailed Requests for Evidence (RFE) from USCIS, mainly concerning the source of funds.

Don’t rush into an EB-5 investment and risk your capital. Investing in a project connected to friends or family does not guarantee the security of your EB-5 investment. Take the time to conduct proper due diligence and make informed decisions.

The author of this article is Mr. Prashant Ajmera, an Indian immigration lawyer and Canadian citizen. He is the founder of Ajmera Law Group and the author of two books, “Millionaires On The Book” and “How to Plan for Your Child’s Foreign Education.” Over the past 30 years, he has assisted and advised over 30,000 students and families on planning their foreign education and settlement. He regularly speaks at various forums on this subject.

Ajmera Law Group: Mo: +91 9974253030 | info@ajmeralaw.com | www.ajmeralaw.com

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