India is a fast growing market for EB-5 investors who are seeking to migrate to United States for education or business opportunities for themselves, or their children. We are experienced at guiding Indian investors through this EB-5 immigration maze. Our primary EB-5 Attorney Chandani Patel Rijal is Indian herself, and fully understands Indian nationals needs and culture. Given our knowledge and understanding of Indian clients, we are able to craft unique solutions narrowly tailored to meet the needs of Indian nationals.
For many Indian nationals this is the only option they have to get a USA green card for them and their family, because they have no immediate family in U.S., or an extraordinary ability to apply for EB-1 and so on. Additionally, there are many other benefits in EB-5 Investment, like:
- NO WAITING LIST, the visa is current – No quota backlog, for example, it takes a sibling of USA citizen almost 12 years for their visa to be current;
- No sponsor needed – You do not have to know anyone in U.S. that has to financially sponsor you for your green card;
- Green card, that gives you Permanent Residency in United States for you, your spouse, and any children under the age of 21
- Fastest way to obtaining green card and citizenship in U.S. – You can become a U.S. citizen after 5 years;
- No language or minimum education requirement;
- Green card allows you to travel to and from India without a visa;
- Free to work and live anywhere in the U.S.; and
- *Most importantly, education in schools is free and education at colleges and universities are at U.S. resident’s fees, not international fees (International fees can be double then U.S. resident fees) – United States is most desired by India because of education for their children, and if parents “gift” their children EB-5 funds prior to sending them to college, not only would they pay half the amount of tuition fees as a U.S. resident, but their post-graduation visa concerns would be eliminated, meaning no H1-B or PERM.
Reserve Bank of India (RBI) Issues
Whether you are a passive EB-5 investor in a regional center or a direct EB-5 investor in your business, you will need to make a substantial investment of $500,000 or $1,000,000 into the United States to qualify for EB-5 investment. The pertinent Indian Government regulations that control your ability to take money out of India and make on Overseas Direct Investment (“ODI”) are important and can impact your case.
We are, familiar with the mechanisms used to lawfully transfer capital out of India. While we are happy to share case studies detailing strategies that have worked for our clients in the past, Rijal Law Firm are solely focused on the practice of US immigration law, are not an Indian law firm, and are not qualified to formally advise on the laws and regulations of India. Where necessary we can work with qualified and trusted Indian advisors to devise a strategy that meets both applicable Reserve Bank of India (RBI) and U.S. Government requirements.
The great news is that on February 3rd, 2015, the Reserve Bank of India (RBI) in its monetary policy review, heightened the remittance limit, under Liberalized Remittance Scheme (LRS), to $250,000 per person per year (which was a year limit of $125,000 before), which made it easier for Indian nations to fund their EB-5 investment. See http://articles.economictimes.indiatimes.com/2015-02-03/news/58751799_1_rbi-ups-remittance-scheme-crr.
Then in July 2015, RBI issued a circular that purports to severely restrict the ability of Indian nationals to remit funds outside of India to make an investment that qualifies that investor for Emigration purpose, under A7. See https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=9899&Mode=0#7. Despite the RBI regulations we have yet to have a client who has been unable to legally transfer the funds needed to make an EB5 investment. While we are a US immigration law firm, our firm retains experienced Indian counsel who assists our clients in transferring their funds for EB5 investment purposes.
**Please note, the RBI regulations make it difficult, but not impossible to invest in the United States, if careful planning is done. Our firm represents many investors who have successfully and lawfully planned to transfer substantial capital to the United States.
Obtain Proper Legal Advice
Making an EB-5 investment is a complex matter involving the analysis of countless laws and regulations. Unfortunately non-lawyers, like visa consultants, who are not licensed by U.S. as an attorney, are not qualified to provide this advice and it is a criminal offense in the U.S. for them to attempt to do so. Many of these consultants lack knowledge of the law and experience to properly advise clients on EB-5. If they do, it can result in a disaster, in which clients loose all of their money and never get a U.S. green card. Additionally, it is essential to engage a law firm that understands Indians “white” money issues and has experience in navigating through the Indian regulations and LRS, considering RBI promulgated the LRS Emigration restriction in July 2015. Rijal Law Firm is a immigration law firm, consisting of U.S. licensed attorneys, that are familiar with India RBI restrictions and all the source of funds issues, and can help guide you through the EB-5 immigration maze.
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