US EB-5 Visas for Indians: The US EB-5 visa program, allowing investment-based Green Cards, has been favored by Indian applicants. Despite the program’s growth, there was a decline in EB-5 visas for Indians in the first eight months of FY2024. This article provides detailed information on US EB-5 visas for Indians, including waiting times, success rates, and overall processing time. Read till the end for complete details.
US EB-5 Visa Program 2024 Overview
The EB-5 visa program is a unique opportunity for foreign investors, including Indian nationals, to gain permanent residency in the United States. It requires a minimum investment of $800,000 in a new commercial enterprise that creates or preserves at least 10 full-time jobs for qualified US workers. This visa category has seen significant interest from Indian investors, contributing to the growth of various sectors in the US economy.
Decline in Visas for Indian Investors:
While the EB-5 program experienced an overall growth of 42% in FY2024, the number of visas issued to Indian investors decreased by 22% compared to the same period in FY2023. This decline was observed despite a surge in visa processing in December 2023. The US Consulate in Mumbai, a key processing center for Indian applicants, has shown a decline in productivity, issuing only four EB-5 visas in May 2024.
Factors Affecting Visa Issuance:
Several factors could contribute to the decrease in EB-5 visas issued to Indian applicants. Increased scrutiny and processing delays at the Mumbai Consular Office, changes in visa quotas, and the evolving economic landscape in India could all play a role. Additionally, the recent Reform and Integrity Act (RIA) has introduced stricter regulations and security measures, potentially impacting processing times.
India Remains a Key Player:
Despite the decline, India remains a significant contributor to the EB-5 visa category, along with China, Vietnam, Taiwan, and South Korea. These countries collectively account for nearly 92% of all EB-5 visas issued up to May 2024, highlighting the program’s continued global appeal.
Alternative Pathways to Green Cards:
Many Indian EB-5 investors opt for adjustment of status (AOS) with USCIS to obtain their green cards. This means they apply for permanent residency while already residing in the US. The lack of comprehensive data on AOS applications makes it challenging to gauge the program’s full utilization among Indian applicants.
| EB-5 Visa Issuance Data | Number of Visas Issued |
| FY2023 (October 1, 2022 – May 31, 2023) | 5,049 |
| FY2024 (October 1, 2023 – May 31, 2024) | 7,173 |
| Country of Origin | Number of Visas Issued in FY2024 |
| India | 512 |
| China | 2,670 |
| Vietnam | 1,397 |
| Taiwan | 501 |
| South Korea | 441 |
The Future of EB-5:
Experts anticipate a permanent reauthorization of the EB-5 program in the future, eliminating the uncertainty of periodic renewals. This move could attract more investors and further boost the program’s economic impact.
Advice for Potential Investors:
For those considering the EB-5 pathway to US residency, thorough research and careful selection of investment projects are crucial. Partnering with reputable regional centers with a proven track record can ensure a smoother application process and a higher chance of success.
Conclusion:
Despite a recent dip in EB-5 visas for Indian investors, the program continues to be a valuable pathway to US permanent residency. With its potential for economic growth and the opportunity to live and work in the US, the EB-5 program remains an attractive option for many Indian families.
Join WhatsApp
Join Telegram
