**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