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November 26, 2023
November 26, 2023

Study Abroad – Five Common Mistakes Indian Parents Make

Author By Prashant Ajmera Categories Student Visa, Study Abroad & Planning, USA Student Visa

“Navigating the Path to Foreign Education: Five Common Mistakes Indian Parents Make”

Introduction:

Embarking on the journey of sending a child to study abroad is a dream for many Indian parents. However, certain pitfalls often hinder the process, leading to missed opportunities and financial strain. In this blog post, we’ll shed light on five common mistakes made by Indian parents in their pursuit of providing an international education for their children.

 1. Waiting Until Grade 12 or After Bachelor’s Degree:

One prevalent mistake is delaying the planning process until the child reaches Grade 12 or completes their bachelor’s degree. By then, crucial decisions about courses, universities, and application processes may be rushed, limiting the options available.

2. Lack of Financial Planning:

Financial considerations are paramount when sending a child abroad for education. Unfortunately, many Indian parents overlook the importance of early financial planning, including estimating the future need for foreign currency and accounting for the escalating costs of education in foreign countries.

3. Neglecting Research on Educational Institutes and Job Prospects:

A critical oversight is not thoroughly researching the quality of educational institutions, potential job prospects, and the likelihood of immigration for the child upon completing their studies. Understanding these factors is crucial for making informed decisions about the child’s academic and professional future.

4. Relying Solely on Foreign Education Loans:

While foreign education loans may seem like a convenient solution, solely relying on them can pose a significant risk to personal finances. Indian parents sometimes take loans without fully assessing the long-term implications, potentially jeopardizing their financial stability.

5. Avoiding Professional Assistance:

Many Indian parents, for various reasons, refrain from seeking professional help to navigate the complexities of planning their child’s foreign education. Engaging experts who specialize in this field can provide invaluable guidance on choosing the right course, university, and financial strategy, ultimately saving both time and resources.

Conclusion:

Embarking on the journey of sending a child to study abroad is a significant decision that requires careful planning and consideration. By avoiding these common mistakes, Indian parents can ensure a smoother process, laying a solid foundation for their child’s successful academic and professional journey overseas. At Ajmera Law, we understand the nuances of international education planning and are here to assist you every step of the way.

The author of this Blog 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

 

 

October 25, 2023
October 25, 2023

US Government’s 2023-24 Policy – No Acceptance of USA Green Card Applications from Indian Students

Author By Prashant Ajmera Categories Student Visa, Study Abroad & Planning, USA, USA Student Visa

US Government’s 2023-24 Policy – No Acceptance of USA Green Card Applications from Indian Students in EB-2 and EB-3 Categories as USCIS has enough applications in this class to process for the years 2023-24. 

How do we get here?

Read further rest of the Blog to find your options.

The USA is a top destination for Indian students pursuing higher education and settlement.

In 2023, Indian students seeking higher education and settlement in the USA should explore all options available to them and not just straight fly to the USA to study as soon as their study is finished in India.

To study, work and settle in the USA, Indian students and family must understand the process and timeline for obtaining a green card.

Step 1: If you plan to study in the USA after completing 12th grade for a bachelor’s degree or after completing a bachelor’s degree in India for a master’s degree in the USA, you must first take an English language or other exams, such as TOEFL or IELTS, and either the SAT or GRE/GMAT. Then, you can apply to various educational institutions and receive your I-20 admission letter. Based on this letter, you can apply for an F1 visa, also known as a student visa.

Step 2: With an F1 visa, you can study in the USA and may also work part-time. After completing your studies, you can apply for Optional Practical Training (OPT), which allows you to work in the USA. At this point, most students and parents feel the child is settled in America but in fact, this will be the start of real wait-and-watch time.

Step 3: Once your OPT work permit expires, you need to find a company in the USA to offer you a job for H1B visa sponsorship. If selected, you may work in the USA for the same company for six years, and in some cases, seven years.

Step 4: After obtaining an H1B visa, you can ask the same company or look for a new company to sponsor you so you can apply for USA green card. All students from all over the world apply under Employment-Based (EB) five categories, as shown in the table published by USCIS in December 2022.

For the past 30 years, the worldwide annual quota for green card visas in the employment-based category has been 140,000. However, as the number of international students increases, this quota is quickly being filled. Of the total quota, 40,000 green cards are allocated to the first three categories of EB, and 10,000 each to the EB4 and EB5 categories.

The majority of Indian and international students apply for the EB2 and EB3 categories, which currently have 351,436 and 112,859 approved green card petitions pending as of December 2022. Due to this backlog, the waiting period for the EB2, EB3, and EB4 categories is estimated to be 11 to 12 years. USCIS is currently processing green card petitions made in 2011 and 2012.

To check the latest priority date for April 2023, please refer to the updated information from USCIS click here

The following is an April 2023 priority dates:

 

Employment-
based		All Chargeability
Areas Except
Those Listed		CHINA-
mainland
born		INDIAMEXICO PHILIPPINES 
1stC01JUN2201JUN22CC
2nd01DEC2208JUL1901MAY1201DEC2201DEC22
3rdC01FEB1901AUG12CC
Other Workers01FEB2001NOV1501AUG1201FEB2001FEB20
4th01OCT1801OCT1801OCT1801OCT1801OCT18
Certain Religious Workers01OCT1801OCT1801OCT1801OCT1801OCT18
5th Unreserved
(including C5, T5, I5, R5)		C01JAN1608DEC19CC
5th Set Aside:
(Rural – 20%)		CCCCC
5th Set Aside:
(High Unemployment – 10%)		CCCCC
5th Set Aside:
(Infrastructure – 2%)		CCCCC

 

Stage 5: If you are fortunate enough to have received an H1 visa and green card sponsorship under the EB2 or EB3 categories, it will still take 20 years before your child can obtain a green card for the USA, and an additional five years after that to become a citizen. With the increasing number of international students applying under these categories, it is possible that the waiting period could extend to 30 years or even longer.

What are the options for Indian students?

Option-1: If you have conducted research during your education and work in the USA and can demonstrate that you possess the exceptional ability or are an outstanding professor or researcher, you may apply for the EB1 (a) & (b) categories. Indian students applying under these categories do not have to face any waiting period.

Option 2 and 3: If you come from an Indian family, you can return to India and work for your family business for a few years, striving to become a senior manager or technical expert. This may open doors for an L1 visa in the USA. Alternatively, if your family’s company in India can take over an existing business in the USA, you may apply under the EB1(c) category for a direct green card for the USA, along with your spouse and children under the age of 21.

Option 4: If you and/or your family are prepared to invest in a NEW business in the USA under the EB-5 visa program, with an investment of US$800,000 or $1,050,000 and the creation of 10 jobs for Americans, you may apply for a green card under the EB-5 category. If you are in the USA on a legal status, you can apply for adjustment of status at the same time as the EB-5 petition.

Option 5: Many Indian and international students have applied for the Canadian Express Entry program to obtain Canadian immigration. The Canadian government is eager to welcome these immigrants with American degrees and experience as new immigrants.

The final verdict is to plan and take legal advice if necessary but not rush

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

 

August 8, 2023
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?

Author By Prashant Ajmera Categories 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.

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