As of last month, there were 338,256 pending immigrant visa cases, indicating a 16% increase in backlog at the Department of State’s National Visa Center compared to December’s 292,105 cases.
Additionally, the number of green card applicants with complete documentation ready for interviews rose by 13% from 337,870 in December to 380,407 in January. This highlights the ongoing challenges within the immigration system and the pressing need for visa processing.
Indian investors and African migrants are increasingly turning to the US EB-5 Investment Visa Program as a means of obtaining a green card.
This program allows eligible investors to obtain permanent US residency by contributing to a project that creates at least 10 full-time American jobs. With investments starting at $800,000 for projects in rural areas or Targeted Employment Areas (TEAs), the EB-5 program offers a fast track to a green card, bypassing the H1-B lottery system and employer sponsorship requirements.
However, the EB-5 investment process is complex and carries risks that must be carefully managed. Failure to understand and address these risks could lead to green card denial, loss of invested capital, or both.
Investors can choose to invest directly in a qualifying US business or work with a USCIS-approved Regional Center, which manages investments on behalf of EB-5 applicants.
Obtaining a conditional green card through the EB-5 program allows individuals to live, work, study, and even start a business in the US. After two years, investors can apply to have their conditional green cards converted to permanent ones and potentially recoup their investment.
However, there are immigration risks such as insufficient documentation of funding sources or failure to meet job creation requirements, as well as financial risks due to the requirement that investor funds remain “at risk.”
It is crucial for Indian investors and African migrants considering the EB-5 visa program to carefully evaluate and mitigate these risks to ensure a successful green card application and safeguard their investment.
