EB-5 Marketplace – India and More
China is currently the biggest market for the EB-5 visa program. However, more and more demands are emerging across Asia, and India is showing great promise.
A Growing Economy
Like China, India’s economy is growing consistently, and more and more people are enjoying higher income and greater financial stability. What’s more, the government is easing its tight grip on inward and outward investments. For wealthy Indians seeking to migrate to the U.S., the EB-5 visa program is emerging as the ideal channel.
Of all the dollar billionaires in the world, 103 hail from India. What’s more, there are hundreds of dollar millionaires in India, and this number is growing steadily. It, coupled with many Indians’ interest in the U.S., is expected to give rise to more EB-5 visa buyers in the country. Currently, the U.S. is the most popular destination for emigrating Indians – the population of Indian migrants in the U.S. now stands at about 2 million people.
However, the EB-5 visa program is still a new concept to most Indians, and several other factors may derail its popularity for the near future.
It Will Take Time
Although the popularity of the EB-5 visa program increased significantly over the past year, it is nowhere near close to China’s size. Several factors are to blame for this:
- Returns are Not Enticing Enough
To get an EB-5 visa, one has to make an investment that will create jobs for Americans and contribute to the U.S.’s economic growth. This investment will eventually bring returns, but it seems that the returns are not enticing enough for Indians. Researchers have established that, unlike the Chinese who are comfortable with whatever returns they get from their investments, Indians are not – what’s more, most Indians are impatient concerning this as it may take several years to get the visa, let alone see substantial returns from their investments.
- Most Wealthy Indians are Comfortable at Home
Although there are more than 2 million migrant Indians in the U.S., most of them come looking for jobs mostly in the engineering and technology industries. It is because most wealthy Indians feel more comfortable at home for various reasons.
For starters, wealth in India brings with it respect and power – this is fueled even more by India’s caste system whereby the upper casts tend to be wealthy and are socially privileged. Additionally, although India’s infrastructure is still developing, the rich live in lavish environments with everything one would need for fun and comfort. To this end, most Indians maintain dual nationality and spend most of the year in India.
- Investment Channels are Minimal in India
Even with the necessary funds to invest in an EB-5 visa program, it is not as easy as people make it seem. For starters, one has to identify a viable investment opportunity that meets all the requirements put in place by the government – this can prove difficult when you are continents apart. Additionally, all the paperwork has to be appropriately filed, and this can take a long time with extensive consultations.
As the biggest marketplace for EB-5 programs, China has numerous firms that facilitate everything, from identifying viable investment opportunities to liaising with the authorities. It is not the case in India as the visa program is still new. It makes it difficult for interested Indians to get their hands on the EB-5 visa. In fact, this scarcity of channels is not only frustrating but also facilitates the exploitation of unwitting Indians by con companies.
- It Takes Time
Considering the popularity of the EB-5 visa program and the fact that there is a cap on the number of visas that can be issued every year, there is a vast backlog of investors waiting in line. In fact, many Chinese investors wait for over three years to get their hands on the visa. For most Indians, the wait is so frustrating that they have little faith in ever getting the chance to move.
Things are Looking Up
Although it will take time for India to match China’s EB-5 market size, it will eventually come around. As more and, more Indians are enticed by the American dream, and as India’s economy continues growing, it is expected that the EB-5 visa’s popularity will keep growing consistently over the coming years.
Currently, law firms in India, as well as the U.S., are setting up shop in India with the hope that more Indians will consult them for the EB-5 visa program. And, although some are unscrupulous, there are a few that guarantee fool-proof services. Top Pins Law Firm is one of the most trusted law firms for Indians seeking to move to the U.S. via the EB-5 visa program. The firm has an extensive network of professionals who specialize in the EB-5 visa program, and it handles every aspect of the application including identifying investment opportunities that are not only viable but also guarantee good returns.