Over the years, the US EB-5 program, a program which allows an investor, the investor’s spouse, and children under 21 years of age at the time the application is submitted, to obtain their US Green Cards through a fast-track process – has become popular amongst Indian nationals.
What is Indian Retrogression?
Since each nationality participating in the EB-5 investor immigration program is allotted 7% of the 10,000 US EB-5 visas issued each fiscal year, those nationalities with the highest number of applicants will surpass the 7% allotment and experience a retrogression or backlog. This backlog applicant must wait until a visa becomes available in queue to land in the US as a permanent resident. It is important to note that this only applies to those Indian nationals actually born in India.
How can you Avoid Indian Retrogression?
Before March 2022, the EB-5 visa program only consisted of one visa category which is now termed as “unreserved visas”. On March 15, 2022, the US government introduced new “reserved visas” split into three set-aside visa categories: high-unemployment targeted employment areas (TEA), rural, and infrastructure projects. Since each of these reserve categories will be processed in its own queue, the allotment of visas has not yet been surpassed. Therefore, this important new legislative change to the EB-5 investment program now gives Indian-born applicants an opportunity to bypass retrogression.
Below is the most current visa bulletin released by the US government. This bulletin is released each month to show approximate processing times or backlogs. As we can see in the 5th category (EB-5) Set Aside “Rural” and “High-Unemployment” we see that the chart indicates C. The letter C indicates Current, meaning that processing times in those categories for all nationalities are current and being processed as per normal processing time, if not faster. Investors should not wait to invest in these reserve categories as it is reasonable to assume they will also become backlogged in the future.
How to Begin the EB-5 Process?
The US licensed lawyers and immigration specialists at Step Global DMCC provide you with active guidance through the entire immigration process. With a 100% track record of approvals over 10 years in the GCC, Step Global has assisted hundreds of families from the region to successfully obtain US green cards and avail all the benefits of permanent residency in the US.
Step Global offers a wide range of exclusive reserved category projects including high-quality rural and high-unemployment (TEA) projects with a strong capital structure and ample potential for job creation. These may provide a secure fast-track option to EB-5 approval and a US Green Card as well as eventual US citizenship.
The Start-up Visa Program has been a successful immigration program over the past years and continues to be an opportunity for prosperity for Canada.