October 1, 2023

USA Business Visa L1 A & B for Intra-Company Transferees

By Prashant Ajmera Business Visa, E2 business visa, EB-5 US Investor Visa, Immigration Visa, Investor Visa, L1 A & B Visa, US Immigration attorney, US Immigration Lawyer

Unlocking Business Opportunities in the USA with L1 A & B Visas for Intra-Company Transferees

Introduction:

The United States has long been a land of opportunities for businesses worldwide, and Indian companies are no exception. One of the most economical ways for Indian businesses to establish and expand their presence in the USA is by leveraging the L1 A and B visas.

These visas, designed by the US government, facilitate the transfer of executives, managers, and technical personnel from India to the USA. In this blog, we will explore how Indian businesses can tap into this opportunity to flourish in the American market.

Understanding L1 A & B Visas

The L1 visa category is a powerful tool that enables foreign companies to enter the US market, set up new operations, and bring their foreign employees to the USA. It is especially popular among Indian IT companies, who have extensively utilized these visas in recent years.

According to US government data from 2020, a significant number of L1 visas were issued to Indian IT giants. Tata Consultancy Services (TCS) led the way with 1,542 L1 visas, followed by Infosys with 517, Tech Mahindra with 275, HCL with 142, and WIPRO with 130. These numbers are a testament to the effectiveness of the L1 visa program for Indian businesses.

The Key to Success: Proper Planning:

Regardless of the size of your company, success with L1 A and B visas hinges on meticulous planning. Here are some crucial aspects that Indian businesses need to consider:

Why Expand in the USA: Before embarking on the visa process, it’s essential to have a clear and compelling reason for expanding into the US market. Understanding the market dynamics and identifying specific opportunities is critical.
How to Expand: Establishing a business in the USA requires a well-thought-out strategy. Consider factors such as market research, target audience, competition analysis, and a robust business plan.
Key Employees: Identify key personnel who will play a pivotal role in the expansion. These individuals should have the necessary skills, expertise, and experience to ensure the success of your US operations.
Compliance: Ensuring compliance with US immigration laws and regulations is paramount. Adhering to all requirements and documentation is essential to avoid any setbacks during the visa application process.

L1 Visa as a Quick and Economical Solution:

While the L1 visa can indeed serve as a swift and cost-effective means to enter the US market, it’s crucial not to underestimate the intricacies of the process. Rushing through the application without careful consideration and planning can lead to failure.

Indian businesses should view the L1 visa as a gateway to long-term success in the USA. By investing time and effort in understanding the market, creating a solid business plan, and selecting the right personnel, companies can maximize their chances of thriving in the American landscape.

Conclusion

The L1 A and B visas offer Indian businesses a unique opportunity to establish and expand their presence in the United States. However, success in this endeavor requires meticulous planning, a clear vision, and a commitment to compliance with US immigration laws. By approaching the L1 visa program with these principles in mind, Indian companies can unlock the full potential of the American market and pave the way for sustainable growth and success.

You may find more information on L1 visas at the following USCIS site and our law firm website:

L1 visa process at the official USA government link.

Basic information about L1 visas on our site

L1 Visa Webinar link

L1 Visa PDF brochure

L1 Visa PPT presentation

The author of this article/blog is Prashant Ajmera, an Indian immigration lawyer and the founder of Ajmera Law Group. He has been a Canadian citizen for the past 30 years and is also the author of two books: “Millionaire of the Move” and “How to Plan for Your Child’s Foreign Education: Myth vs. Reality”. He has been assisting and advising Indian businessmen to establish businesses in Canada since 1993. Consult us

August 8, 2023

Is it possible to make an EB-5 investment of US$ 500,000 and loan US$ 300,000 to secure my US Green card?

By Prashant Ajmera EB-5 US Investor Visa, Investor Visa, Regional Centers, Residency & Citizenship by Investment, US Immigration attorney, US Immigration Lawyer, USA, USA Student Visa

Is it possible to make an EB-5 investment of US$ 500,000 and take
loan of US$ 300,000 to secure my US Green card?

As of March 15, 2022, the EB-5 immigrant investor program now requires a higher investment amount of US$ 800,000, which represents a 60% increase from the previous US$ 500,000. This significant rise in investment may pose challenges for many potential investors who might find it difficult to come up with such liquidity to participate in the program and invest in the USA.

However, there is a favorable development for EB-5 investors from a US court decision in November 2018. This decision allows investors to borrow money without having to provide personal collateral or pledge personal assets as security for the loan.

This can be done in two ways:

(I) Investors can seek loans from regulated financial institutions, either in the USA or anywhere in the world, that are willing to lend money with or without requiring collateral. These institutions could be banks or other licensed entities under the local regulatory authority.

(II) Alternatively, investors can receive loans from friends or relatives, which can be used for their EB-5 investment. However, it is important to note that the USCIS may request source of funds documentation from the friend or relative providing the loan.

The EB-5 immigrant investor category has three main requirements:

(i) an investment of capital,

(ii) engagement in a new commercial enterprise, and

(ii) job creation.

Several regional centers offer loans of up to US$ 300,000 without the need for collateral or security.

However, investors should exercise caution and consider the following points:

(i) Repayment terms of the loan,
(ii) Interest rates charged to the investors,
(iii) Duration of the loan,
(iv) The licensing status of the company providing the loan.

According to the USCIS regulations, gifted or borrowed funds are permissible for petitions filed on or after May 14, 2022, as long as they were given or loaned in good faith and not to circumvent limitations on permissible sources of capital, including proceeds from illegal activities.

Investors relying on such funds must demonstrate the lawful source of the funds by providing evidence for the donor or lender (if not a bank).

It is essential for investors to carefully review the loan or mortgage documents, the lender, and their source of funds, especially if the lender is not a bank.

Being thorough and compliant with USCIS regulations regarding the source of funds will help ensure a successful EB-5 investment process.

It is crucial for investors to be aware of past instances where regional centers offered similar investment structures, such as requiring a smaller investment amount with the rest in the form of a promissory note.

Around 1995, there was a case where investors followed such a structure, with a US$ 150,000 investment and US$ 350,000 in promissory notes. However, this approach was deemed unacceptable by the USCIS, resulting in the rejection of all EB-5 applications associated with it. Read more

Additionally, as a consequence of this improper practice, two officers of the Regional Centres involved in the scheme were charged and sentenced. Furthermore, the EB-5 program itself was temporarily suspended due to these issues.

This historical example highlights the importance of adhering to the regulations and guidelines set forth by the USCIS when participating in the EB-5 program.

Investors should exercise caution and ensure that their investments and funding sources comply with the program’s requirements to avoid legal issues and /or denial of the EB5 petition.

Transparency and compliance with USCIS guidelines are crucial to ensure the success of the EB-5 investment and secure the USA Green Card with the family.

July 16, 2023

New EB-5 RIA Rules Provide More Safeguards to Investors

By Prashant Ajmera Consult Immigration Lawyer, E2 business visa, EB-5 US Investor Visa, US Immigration attorney, US Immigration Lawyer, USA

The provisions in the New EB5 Reform and Integrity Act will allow investors to make investments in Regional Center EB-5 projects with more confidence.

These are FAQs on new New EB5 Reform and Integrity Act effective 15^th March 2022 to 30^th September 2027

What are the new EB-5 rules that came into effect in March 2022?

Ans: Under new EB-5 rules, the investment amount has increased from US $500,000 to US $800,000 for rural areas, high unemployment areas or an infrastructure project. The amount has been increased from US $1,000,000 to US $1,050,000 for any other area and any other project /business. In either case, the investment must be made into a new business entity and must create at least 10 jobs for Americans.

For what period of time will this new rule be applicable?

Ans: The new rules are effective for a period of five years, that is, until 30^th September 2027.

How will this new rule affect my pending EB-5 petition?

Ans: The new EB-5 rules provide for grandfathering of pending petitions, meaning that all pending EB-5 petitions will not be affected by these new rules. The EB-5 program is reauthorized until September 30th, 2027. The pending petitions will continue to be processed even after this date in the event the outcome of the petition is not decided.

What is a rural area?

Ans: In general, an area with a population of less than 20,000 people as per the latest US census is termed as a rural area.

What is a high unemployment area?

Ans: An area is designated by the Secretary of Homeland Security as a high unemployment area when unemployment is 150 per cent of the national average unemployment rate.

Is there any quota for EB-5-based Green Cards in the USA?

Ans: Yes, there is an annual quota of 10,000 Green Cards per year. From this quota, 20% is reserved for rural areas, 10% for high-unemployment areas and 2% for infrastructure projects.

Who decides if an area is a high unemployment area?

Ans: Only the Secretary of Homeland Security or a designee of the Secretary can determine if an area can be designated as a high unemployment area. The federal, state or local government does not have the authority to designate a high unemployment area.

What is an infrastructure project and who determines which projects are infrastructure projects?

Ans: An ‘infrastructure project’ means a capital investment project in a filed or approved business plan, which is administered by a governmental entity (such as a Federal, State, or local agency or authority). The Secretary of Homeland Security or a designee of the Secretary will determine if a project is an infrastructure project or not.

Will there be a rise in the EB-5 investment amount in the near future?

Ans: Under new rules, the EB-5 investment amount will increase every five years as per the consumer price index. The next revision will be on or after 1^st January 2027.

I am in the US on legal status, so when can I file for an EB-5 petition (I 526) and an adjustment of status (I 485) petition?

Ans: Under the new rules, any foreign national who is on a legal visa status may file a petition for EB-5 and adjustment of status at the same time. In other words, you can file for I 526 and I 485 at the same time.

Under new rules how will “indirect job creation” be calculated”?

Ans: Under new rules, only 90% of the estimated indirect job creation will be considered for job creation and if it is indirect job creation in a real estate project, then only 75% of the estimated jobs will be considered for job creation.

Is there record-keeping and audits for regional centres under the new rules?

Ans: Yes, under the new rules, regional centres are required to keep a record for a period five years after the last transaction is made and also undergo an audit every five years.

Are projects promoted by regional centres approved by the US government?

Ans: Under new rules, each regional centre must pre-approve its project before it raises funds and before investors file an I-526 petition. Under the old rules, it was voluntary for the regional centres to obtain pre-approval of the project.

Who can own, run, manage and operate a regional centre?

Ans: Only Green Card holders and American citizens can get involved in owning, managing and operating a regional centre provided – the person has a clean criminal record, does not have any ongoing criminal cases pending against him/her, has never been convicted of any crime such as securities law violations, illegal trafficking of contraband substances and such other violations. Additionally, no foreign government or entity can get involved in a regional centre.

Are persons working for and affiliated with a regional centre subject to any law?

Ans: Under new laws, not only owners but also promoters, directors, managers, employees, associates, marketing agents and other associated personnel of a regional centre must remain in compliance with SEC regulations and other regulations made in this regard.

What is EB–5 INTEGRITY FUND under the new rules?

Ans: Each regional centre is required to pay US $20,000 and US $10,000 (if the regional centre has less than 20 investors per year) in the EB–5 INTEGRITY FUND. An additional fee of US $1,000 per investor is required to be paid in addition to I -526 petition fees. This fund will be used for the purpose of management, audit, investigation, site visits, investor awareness, maintaining the integrity of the program and monitoring compliance with the requirements under section 107 of the EB–5 Reform and Integrity Act of 2022.

Do EB-5 direct and third-party promoters (migration agents overseas) need to meet any compliance requirement with USCIS and/or SEC?

Ans: Each regional centre will be required to register their marketing agents, migration agents and such other affiliates with USCIS with their contact details, any signed agreement and fees contract. Promoters will also be required to certify that they are in compliance with the guidelines for third-party promoters; promoting the EB-5 project in compliance with the guidelines provided for the project and also for the visa process.

Are there any changes to the source of fund requirement?

Ans: Under new rules, the investor must demonstrate a legitimate source of funds not only for the investment amount but also for any administrative fees paid to the regional centre.

What if my regional centre does not comply with US regulations and is sanctioned or closed down?

Ans: Under the new rules, if the foreign investor has made an investment in good faith in a regional centre and for any reason the regional centre is TERMINATED OR DEBARRED, it will not have an effect on the EB-5 petition of the foreign investor. The investor will not lose the priority date if the amendment to the business plan and removal of conditions is filed within 180 days of the notification received from the government for the termination of RC.

How will my money be invested in an EB-5 project?

Ans: The investment amount will be transferred to a separate account maintained by the regional centre. It will be transferred to the project only when it is certified by designated FUND MANAGERS (such as a public accountant, attorney, broker-dealer, investment advisors, etc.)

NOTE: In order to protect investors, various checks and balances have been introduced in the new EB–5 Reform and Integrity Act of 2022. Please refer to the full text of the Act for details.

This is a very simplified FAQ for a general understanding of the new EB-5 Reform and Integrity Act. You are advised to refer to the complete text of the ACT or consult a qualified attorney for more information.

About Ajmera Law Group:

Ajmera Law Group (ALG) is an Indian law firm that assists Indian students and parents to plan for their or their child’s foreign education and subsequent settlement in a foreign country by offering various options including Residency and Citizenship by Investment and/or global investment.

April 11, 2023

New Domicile Rules: USCIS Requires Indian Citizens Seeking E2 Business Visa to Meet New Eligibility Criteria

By Ajmera Law Group US Immigration attorney

The United States of America is a highly sought-after destination for Indian citizens, whether it is for non-immigrant visas such as B1/B2 visitor visa, F1 student visa, J1 visa, H1B visa for professionals, or immigrant visas such as F1, F2, F3, or F4 under family class and employment-based visas such as EB1, E2, EB3, EB4 and EB5. Recently, the E2 business visa has gained popularity among Indian businessmen.

The E2 business visa is available to citizens of treaty countries with the USA government. Unfortunately, India is not one of the treaty countries, so Indian citizens cannot apply for the E2 business visa directly. However, if an Indian citizen is a citizen of a treaty country, they may apply for an E2 business visa. The E2 business visa was created to ensure a balanced mix of businesspeople from treaty countries that are underrepresented in the USA.

Over the last few years, many Indian citizens have obtained citizenship from other countries such as Grenada and Turkey, which allowed them to apply for an E2 visa. These residency and citizenship programs were heavily promoted in India and other countries as a backdoor entry to the USA as a businessperson. However, the US government has realized the increase in E2 business visa petitions from countries such as India and China. In order to address this issue, the USCIS has introduced three domicile requirements.

As of December 23, 2022, the Immigration and Nationality Act (INA) was amended to define the eligibility criteria for E visas. For all E-1 and E-2 filings received on or after December 23, 2022, USCIS may request additional documentation related to how the applicant obtained treaty country nationality to ensure compliance with the amended language.

In addition, for those individuals who obtained treaty country nationality through a financial investment, USCIS may require additional documentation to show that the applicant has been domiciled in the treaty country indicated in the application for a continuous period of at least three years at any point before applying for E-1 or E-2 classification.

In US immigration, domicile refers to a person’s permanent home or legal residence. It is the place where a person intends to remain indefinitely and to which they plan to return after any period of absence. Domicile is an important factor in determining a person’s eligibility for certain immigration benefits, such as citizenship and permanent residency. To establish domicile, a person must have a physical presence in the United States and demonstrate an intention to make the US their permanent home.

In summary, if you are a citizen of a non-treaty country such as India or China with the USA for E1 and E2 visas, and in the past have received citizenship of a treaty country to eventually apply for E1 and/or E2 visas, you may apply for the same after showing three years of domicile in those countries.

As an Indian citizen, you have alternative options such as investing in a NEW business of your friends or relatives or purchasing a NEW franchise that can create a minimum of 10 new jobs in the USA for US citizens and green card holders to apply for the EB5 visa.

Ajmera Law Group is an experienced immigration lawyer in India with over 30 years of expertise in assisting business people in applying for investor and business visas for over 20 different countries, including the USA, Canada, UK, Australia, New Zealand, Ireland, and various European and Caribbean countries.

September 27, 2022

For Indian Students Going to USA in 2022 – Possible Green Card Wait Time is 100 Years!!!

By Ajmera Law Group EB-5 US Investor Visa, Green Card, US Immigration attorney, US Immigration Lawyer

Are you a student going to USA in 2022 for study with the hope of eventually obtaining a green card? Congratulations on getting admitted to a US university!! But the bad news is you may have to wait for 100 years to get a green card if you plan to settle down in USA after your studies. Read our blog to know more.

Thousands of students start their academic and professional journey in USA and wait in line for a number of years for their green card. Indian citizens living in USA for more than 10 years have not yet received their green card due to the limited employment-based quota. If you are going to USA in 2022, you may have to wait for almost 100 years to obtain a Green Card. Based on our communication with our associate US immigration lawyer, we would like to explain why this is happening.

October 2022 Visa Bulletin

The Dates of Filing Chart from the October 2022 Visa Bulletin show that EB2 India will retrogress well over 2 years to May 1, 2012. This means Indian citizens with advanced degrees, sponsored by their employers and living in USA for more than 10 years, are still in line for receiving their green cards.

The unfortunate part is people sponsored for EB2 India green cards in 2022 will have to wait for 100 years to obtain their green card! This means all EB2 Indian professionals may not even be alive when they get a green card. They will have to keep extending their H1-B visas every 3 years until they retire or until the government refuses to renew the visa. After which they will have to return to India.

One may question why this has come to pass. The main reason behind this situation is the outdated immigration laws. The number of employment-based green cards available to professionals with advanced degrees is only 28.6% of the 140,000. Additionally, the country limits EB2 green cards for people born in the country to only 7% of the total. As a result, the number of Indian professionals with advance-degrees who are obtaining green cards has drastically reduced.

Furthermore, not all countries have limits on EB1, EB2 and EB3 green cards. Thus, unused green cards are offered to some Indians waiting in line for years.

Current situation of EB2 India

Currently, 140,000 people are waiting for their green cards, and 80% of them are Indian citizens. Considering the fact that US employers are dependent upon highly-educated Indians, one wonders why a quota of EB2 India immigrants is limited to 7% of the total number of immigrants?

Except immigrants from India and China, no other nationalities are waiting in queue to obtain a green card. It seems like citizens of India and China are being penalised due to the county of their birth.

Additionally, immigrant families are facing another hurdle. Children born abroad, after turning 21, are not allowed in USA. They are not even permitted to stay in line as dependents for a green card. Many such children become undocumented and are forced to go back to their home country after turning 21.

Is there a solution?

As discussed above, it can clearly be seen that US immigration laws are antiquated and require reform. If reforms don’t come soon, highly educated Indians will get demotivated about going to USA. Sensing the need of the hour, Senator Rand Paul, an American physician and politician serving as junior U.S. senator, has introduced the Backlog Elimination, Legal Immigration, and Employment Visa Enhancement (BELIEVE) Act.

This Act aims to end the limits placed on green cards for employment-based immigrants. It also proposes to increase the number of green cards for EB2 immigrants from 140,000 to 270,000. Additionally, entire families – spouses and minor children – will be included in the quota.

It doesn’t end here. The BELIEVE Act will eliminate the EB2 and EB3 India green card waiting times. The Act creates a levelled playing field for employment-based immigrants who must play by the rules and help the county by boosting the US economy.

To summarise, many highly educated Indian citizens waiting for green cards in USA may finally see a ray of hope in form of the BELIEVE Act. Get in touch with US immigration lawyer to stay updated.

July 25, 2022

Investing in EB-5 as Equity, Debt, Fund or Mutual Fund – Which is the Best Option?

By Prashant Ajmera EB-5 US Investor Visa, Investor Visa, Regional Centers, Residency & Citizenship by Investment, Second Passport, US Immigration attorney, US Immigration Lawyer, US start up visa program

Understanding Investing in EB-5 and different financial structures?

The pathway to USA Green Card by investment, also popularly known as the EB-5 investment visa program, is considered the easiest and safest way to obtain a Green Card. The law behind the EB-5 investor program is very simple but the creative financial structures set up by investors and related professionals make investing in EB-5 look like a very complex process.

The simple EB-5 law

An EB-5 investor may make an investment of US$ 800,000 in a new commercial enterprise / new business which will create 10 new jobs provided the business is located in a rural area or high unemployment area or the project is an infrastructure project. In all other cases, the investment amount shall be US$ 1,050,000.
The investment should be a business risk.
The investment amount should come from a legitimate source, including earned money or a loan, or a gift.

This simple EB-5 regulation has been converted into complex financial structures, making the investment process seem very complicated for investors.

Here are the direct and indirect EB-5 investment scenarios:

Direct Investment

An investor can start on his own or partner with someone in the USA for a new business located anywhere in the USA, make an investment of US$ 1,050,000 and create 10 jobs. The investor will then qualify for a visa under the EB5 program. If this business is located in a rural area or high unemployment area, the investment amount will be US$ 800,000.

Investors who are capable of operating and managing a business may opt for this type of direct investment.

Indirect investment

In this case, several geographical areas in the USA may be combined and approval from USCIS is obtained to declare the area as a Regional Centre.

It is under this type of indirect investment, various financial structures are offered to investors for making an investment.

Here are some simple examples:

EB-5 Equity investments

A developer in the USA approaches USCIS to receive permission to declare a certain geographical area of the USA as a regional center. The developer then starts his project in this area and uses the EB-5 program to raise funds. The project will also be financed by a bank loan and the developer’s equity in the regional center as well.

In this type of project, the developer invites investors to make an investment as equity or as preferred equity partners.

Very few developers in the USA use this model. In such cases, there is one project and one developer.

EB-5 Debt model

A company raising funds for a business or project in the USA may approach USCIS to receive permission to declare a certain geographical area of the USA as a regional center.

Once the area is declared a regional center, the company may approach developers or businesses to set up a project there.

Rather than making a direct investment in the project company, in this case, a second company is created in which EB-5 investors make an investment as equity partners. This company then gives a loan to the project company to carry forward the project. Hence this is known as the Debt model.

This is the most popular model for EB-5 investment.

It is interesting to note that US companies assisting to raise funds for US developers or businesses also undertake marketing for EB-5 projects outside of the USA to attract EB-5 investors.

In this case, too there is one project and one developer but there is also an intermediary company, such as a fundraising company and/or EB-5 marketing company.

EB-5 Fund / Mutual Fund model

A company raising funds for a business or project in the USA may approach USCIS to receive permission to declare a certain geographical area of the USA as a regional center or the company may rent a regional center from another company who has already received approval from USCIS for a regional center.

Once the area is declared a regional center, the company may approach several developers or businesses to set up a project there.

The EB-5 fund may be created for just one project or business or several projects or businesses in a regional center.

Using EB-5 funds for several projects reduces the risk by diversifying the portfolio as in the case of regular mutual funds in financial markets.

This model is used by very few companies in the USA.

To protect EB-5 investors, the US government has introduced the new EB-5 Reform and Integrity Act. Thanks to this new regulation, we may see a major shift in the EB-5 marketplace. Many companies marketing EB-5 projects or raising funds or renting regional centers may face financial viability issues due to a long list of compliance requirements.

Depending on your personal aptitude, investors may decide to invest in EB-5 to receive a USA green card.

Legal disclaimer:

This blog is written in a very simplified manner for the purpose of making investors understand the various models related to EB-5 investment. Investors are advised to consult a qualified US immigration lawyer before making any decision regarding an EB-5 investment.

For Indian investors – Investing in an EB-5 visa from India is a legal matter and as per Indian law, only Indian lawyers having expertise in the EB-5 program must be consulted.

June 21, 2022

Old and New EB-5 Reforms and Integrity Act – Salient Differences

By Ajmera Law Group Business Visa, EB-5 US Investor Visa, US Immigration attorney, US Immigration Lawyer

The EB-5 visa category is an easy and straight forward option to obtain a Green Card through investment in the United States. The program is designed for foreign nationals who desire to immigrate to the US and start a business or invest in an existing business that contributes to the US economy.

On 15^th March, 2022, the US government launched the new EB-5 Reform and Integrity Act 2022.

As a one of the leading Immigration lawyer in India, we have highlighted some of the important new provisions in this new Act.

Reasons for updating the existing Act:

Preventing frauds
Promoting and reforming foreign capital investment
Creating jobs in American Communities

The Act lists new compliance requirements that have to be adhered to by the following entities:

Regional centers
New commercial enterprises
Job creation entities
Direct and third-party promoters
Migration agents
Companies and professionals involved with regional centers

Salient differences between the old and new Act and regulations:

Job creation

Earlier, each investor had to create 10 jobs irrespective of whether they were direct or indirect jobs. As per the new Act, each investor has to create at least 10 jobs of which 90% can be indirect jobs. If the construction work lasts for less than 2 years, only 75% of the jobs are accepted as indirect.

Regional Centre (RC) approval

As per the old Act, RC approval by the state government was mandatory but not by USCIS. However, the new Act stipulates that RCs will now require mandatory approval by the USCIS (United States Citizenship and Immigration Services). As an associate of US Immigration attorney in India, our law firm can assist in obtaining RC approval for our clients.

EB-5 business plan

In the old Act, it was left up to the discretion of regional centers whether they wanted to get approval of their business plan before filing an EB-5 petition. Now, investors can file for EB-5 petition only after receiving approval of their RC’s business plan. As an associate of US Immigration lawyer in India, our law firm can assist in obtaining business plan approval for our clients.

Failure to comply with the Act and regulations

Earlier, USCIS could not take any action in case any RC failed to comply with the Act and its regulations. Now, USCIS can suspend or terminate the RC in case of non-compliance.

Investment

Investors had to invest US$ 500,000 and $1,000,000 under the old Act that was effective before 15^th March, 2022. Now, investors must invest US$ 800,000 and $1,050,000 to file an EB-5 petition.

Additionally, the US Government has come up with some new regulations in the EB-5 Reform and Integrity Act 2022. They are as listed below:

RC record keeping and audit

USCIS shall conduct an audit of the RC every five years. Hence, RCs have to maintain records for five years.

RC’s annual statement

All regional centers have to maintain and share the annual statement with the investors. If they do not follow the requirement, USCIS can demand a minimum penalty of 10% of the total amount invested.

Annual fees by RCs

If the number of investors is less than 20, RCs have to pay annual fees of US$ 10,000 to the USCIS. If the number of investors is more than 20, RCs must pay annual fees of US$ 20,000.

Petition fees by RCs

RCs must contribute US$ 1,000 per petition to create funds so that they can recover the costs of adjudication and naturalization.

Administration of investment amount by investors

The US government has added a specific provision for an escrow account. The RC must have a 3rd party fund administrator, such as a USA licensed lawyer, CPA or broker/dealer to administer the EB-5 investors’ funds.

Marketing and Migration agents:

All marketing and migration agents appointed by the RC must be registered with the USCIS.

Conclusion:

To stop frequent frauds and create jobs for American communities the US Government launched the EB-5 Reform and Integrity Act 2022 with more stringent and well-defined regulations. For more information, please contact our law firm.

June 16, 2022

Why hire the services of an immigration lawyer in India?

By Prashant Ajmera Consult Immigration Lawyer, Immigration Consultants, US Immigration attorney, US Immigration Lawyer

Why hiring the services of an immigration lawyer in India is always more prudent than hiring the services of an immigration consultant or agent in India?

When it comes to advice for immigration, visa, and foreign travel, most Indian citizens resort to consulting their travel agents and, more recently, to immigration and student visa consultants. These professionals are not regulated and licensed in India. However, they may be associated with some professional association that does not regulate them.

This has resulted in a large number of immigration and visa frauds in India which we hear and read regularly in print and online media. As per the Ministry of Foreign Affairs’ statement in the Parliament, the Indian government officially receives two complaints per day related to immigration and visa fraud.

It is interesting to note that though Indian citizens spend almost US$17 billion (Rs. 132,832 crores) annually on foreign education and travel, the Indian government has yet to take any concrete steps to regulate travel, immigration, and visa agents. This is a big disservice to unsuspecting citizens who become easy prey for unscrupulous visa agents and consultants because there is no professional or legal entity to hold them accountable.

Hence it is important that every person decides whether it is sensible to seek counsel from an immigration lawyer in India or from an immigration/visa consultant.

Here are some important facts that will help you decide:

In India, only Indian lawyers are allowed to dispense advice on legal matters, including immigration and visa.
Lawyers are regulated by law and regulatory bodies and are required to maintain high ethical standards.
Only experienced immigration lawyers in India have the necessary knowledge of Indian and foreign laws that govern the terms and conditions of immigration and visa of another country.
Immigration is a legal matter related to the pertaining acts and rules of the respective country. Hence lawyers specializing in immigration of a particular country are most suitable to provide counsel. They are also authorized to represent foreign nationals.
All information and documents belonging to an individual and/or company are protected by a confidentiality agreement between the client and the lawyer.
Travel agents, student visa agents and immigration consultants are not regulated in India. Hence, in case of fraud, the only recourse available is to file a police complaint.
When you hire an US immigration lawyer, he/she will always act in your best interests because there is no commission or share involved from a third party.
On the other hand, student visa agents and immigration consultants may not act in your best interests as they get a commission from the fees you paid to a foreign education institute, from the project you invested in for EB-5 investor visa, or from a real estate deal in case of for residency and citizenship by investment. Hence they will always try to influence your decision.
Most immigration consultants and agents in India consult immigration lawyers in India or US immigration attorney in India when matters become complex and complicated.
The immigration departments of different countries give credence to legal opinions provided by lawyers only.
If you are looking for a job offer or work visa in a foreign country, always consult foreign recruitment agents who are licensed by the Ministry of External Affairs.
The data published by the Government of Canada shows that cases filed by immigration lawyers have a higher success rate than cases filed by immigration consultants.
As per the Supreme Court of India’s judgment dated March 2018, foreign immigration lawyers are not allowed to open an office or visit India frequently to promote their practice. Hence in the event, you wish to hire the services of a foreign immigration lawyer, you should do it with the help of an Indian lawyer who can protect your rights.

Read the Supreme Court of India’s judgment here | Read RBI Notification here

Prashant Ajmera & Associates

Category Archives: US Immigration attorney