The adjudications in H1-B visa and longer wait times for EB-2 and EB-3 visas have made EB-5 investor visa a feasible option for immigrants to move to the US. It is a popular choice for migration to the US amongst Indian investors who want to avail US second residency by investment.
However, it is no surprise that the increasing demand for investors looking to invest in the EB 5 visa program has led to a backlog in the applications. The US government receives hundreds of applications every year, and the recent backlog shows the interest of investors for making an investment in the US.
EB 5 Investor Visa Backlog – What is it?
There are specific limits for green cards issued in every category outlined in the Immigration and Nationality Act (INA). When the government expects that all visas will be issued in a category for the fiscal year, it sets a limit to ensure no country gets more than 7 per cent. The US government issues 10,000 EB 5 investor visas every year, which means Indians can avail 700 of those. These visas are issued to the investors under the EB-5 visa program, their spouse, and children below the age of 21.
The department of states also establishes a cut-off date for every country. Applicant investors whose date is prior to the cut-off date are eligible to acquire the immigrant visa. This date is published every month, and based on the usage of visa, it can be extended or retrogressed.
Avoiding Backlog for the EB 5 Visa Investment:
India has utilized its EB 5 visa limit of 700 visas in October-September 2018 for this fiscal year. Indians, mainly from Mumbai, Hyderabad, and Bengaluru comprise of the maximum investing population. This retrogression of the EB visa program will result in a longer waiting period for receiving their visas.
However, under certain conditions, Indian citizens can still avail EB 5 investor visa and avoid the backlog conditions. These conditions may be one of the following:
- Indian investors who applied in the EB-5 visa investment program before the cut-off date was determined will not face any repercussions of the backlog. They will get a work permit and travel authorization which can be renewed till the priority date changes.
- Indian investors who were born in any other country like Singapore, UAE, etc. will not be subject to a retrogression in the visa. It depends on the investor’s country of birth.
- Investors can use cross-chargeability and use his or her spouse’s country of birth to avoid retrogression. Their application will be subjected to the spouse’s country.
Get The EB 5 Investor Visa with My Global Citizenship™ and Enjoy Living in The US!
Yet, the EB 5 investor visa program still remains one of the most feasible options to migrate to the US. It is much better than the EB-2 and EB-3 category and has more benefits than the H1-B visa. If you’re an Indian Investor looking to migrate to the US, contact us. We can help you and your family easily move to the US and live a high-quality life.