Investor Visa Application

Biden Administration Confirms Trump-Era Changes to EB-5 Investor Visa

The Biden Administration has moved to quash a lawsuit brought about by an EB-5 Regional Center that questioned the validity of changes to the EB-5 Investor Visa Program introduced in November 2019. By ratifying the changes, the Secretary of Homeland Security Alejandro Mayorkas puts an end to any speculation that the minimum investment level for the EB-5 Visa could be reduced back to $500,000 from the current $900,000.

Court Case

The principle line of argument in the court case was that the head of the Department for Homeland Security at the time had not been properly appointed. The then Acting Secretary, Kevin McAleenan, assumed leadership for the Department following the departure of Kirstjen Nielsen earlier in 2019.

The Government Accountability Office (GAO) released a decision on this issue last summer stating that McAleenan was not in the line of succession and that his leadership was therefore invalid. Mayorkas acted to re-ratify the changes to ward off any uncertainty – going forwards at least.

Old EB-5 Regulations

If it had been successful, the case could have forced a return to the pre-November 2019 regulations. This not only included the lower investment amount, but also different rules surrounding what governs a Targeted Employment Area (TEA). These are zones that qualify for a lower EB-5 investment level because they have weaker employment levels. Outside of TEAs, the minimum EB-5 investment level is $1.8 million (or $1 million prior to November 2019).

The increased investment amount since November 2019 has pushed the EB-5 Investor Visa out of reach of many potential investors . Many of these clients have shifted their interest in the US to the E-2 Treaty Investor Visa, which has lower investment amounts. There is no fixed investment level for an E-2 Visa, but it must be appropriate for the business being invested in and generally starts from around $100,000.

Upcoming EB-5 Reauthorization

A reversal to the EB-5 rule change would have been short-lived in any case. The EB-5 Regional Center Program is facing reauthorization in Congress before the end of this quarter (June 30). We are confident that Congress will support a long term reauthorization of a reformed program since EB-5 is responsible for creating so much employment and investment all across America.

An EB-5 reform bill introduced jointly by Senior Democrat, Patrick Leahy, and a senior Republican, Chuck Grassley aims to reauthorize the program through to 2026 and make reforms to ensure high standards are met by EB-5 Regional Centers.

Despite some uncertainty over the next few months, the future of the EB-5 program looks strong. It played a valuable role in helping America recover from the 2007/8 financial crisis and can support the economic recovery following the Covid-19 pandemic. EB-5 has brought in millions of dollars in foreign investment and has created hundreds of thousands of jobs all around the country. All at no cost to the US taxpayer.

What is the EB-5 Investor Visa?

The EB-5 remains a fast route to a Green Card (except for people born in mainland China who face delays because of strong historic demand). A single investment can cover a qualifying family unit (applicant, spouse, children under the age of 21). It is important to work with an immigration attorney from the outset of the process. One of the most complicated aspects of an EB-5 application is proving that your investment funds came from legitimate sources.

At Davies & Associates we support each EB-5 client with a strong and talented team, which includes not only immigration attorneys, but also tax lawyers, and accountants who can advise on remittance laws in your home country. Green Card holders are subject to tax on worldwide earnings, so it is important to understand and plan for this at the outset of the process.

Read more about EB-5 Investor Visas


This article is published for clients, friends and other interested visitors for information purposes only. The contents of the article do not constitute legal advice and do not necessarily reflect the opinions of Davies & Associates or any of its attorneys, staff or clients. External links are not an endorsement of the content.


Investor Visa Application

EB-5 Visa: Lawsuit Seeks to Overturn Investment-Level Increase

A lawsuit filed by an EB-5 Regional Center is taking aim at the November 2019 price hike for the EB-5 Investor Visa. If successful, the minimum investment amount for EB-5 would return to USD 500,000 in a Targeted Employment Area. A federal judge in California has indicated she may be willing to reverse the Trump-Era changes to the EB-5 program rules after a lawsuit filed by Behring Regional Center. 

If successful, any changes would likely be short-lived. The EB-5 Regional Center Program is set to expire at the end of June and a reform and reauthorization proposal has started working its way through Congress could set the USD 900,000 minimum investment level in stone.  It is our opinion that the new EB-5 law in June would be revised to increase the price back to itS current level.

This means that there may be an extremely short window of time, possibly as little as days, in which to file an EB-5 I-526 Petition at USD 500,000.   Properly preparing a case to be filed can take weeks or longer depending on where the funds are coming from and will require investors to fund an EB-5 project which is configured to accept investment at that investment level.  Any investor potentially interested in availing themselves of the USD 500,000 investment level should therefore have their case ready so it can be filed at a moment’s notice.  

The minimum investment requirement for the EB-5 Investor Visa to USD 900,000 in November 2019 to take account of inflation since the program’s inception in the 1990s. The $900,000 amount relates to investments in a Targeted Employment Area (TEA) – areas with relatively high unemployment. Outside of TEAs the minimum investment requirement rose from USD 1 million to UDS 1.8 million. The November-2019 rule change also centralised decision making around what constitutes a TEA, transferring authority for this to the Department for Homeland Security.

The rule changes had a significant impact on EB-5 uptake with a sharp drop-off after November 2019. This was partly due to so many people rushing to apply, exhausting pent up demand. Covid slowed the recovery, but green shoots have been emerging as the pandemic recedes. Long term reform and reauthorization in June will provide much-needed certainty and confidence to future investors. 

This federal court case could change calculations for some investors. If the price temporarily drops to USD 500,000 it could cause a massive rush to file EB-5 applications. The application process requires careful documentation of the source of funds used for the EB-5 investment. This can take time to prepare, so anyone considering an application or monitoring this court case for a drop in the investment level should contact us immediately. 

The court case comes at a time of brief uncertainty for the EB-5 Investor Visa Program. With reauthorization of the Regional Center Program required before the it expires in June, would-be investors need to weigh their options carefully. 

On the one hand, you could tie up your capital under uncertain conditions to pursue the EB-5 Regional Center in case it ends forever in June. Or on the other hand, you could wait until there is certainty in the second half of 2021, but know that the price of that certainty could mean the EB-5 route is closed to you forever. The risk is up to the client, but it is worth talking through your options with an immigration attorney. 

The likelihood is that the program will be renewed. The EB-5 Investor Visa brings in millions of dollars in investment and creates hundreds of thousands of jobs all across America at no cost to the taxpayer. It played a valuable role in America’s recovery from the 2008 financial crisis and could do something similar as the US economy recovers from Covid.

Anyone who has already applied for an EB-5 Visa but is waiting an adjudication may wish to file a writ of mandamus in federal court ahead of the June 2021 expiry date. Usually applicants should wait at least two years before resorting to legal action against the United States Citizenship & Immigration Services (USCIS), but the June expiration may change this. Contact us to discuss your specific circumstances.


Investor Visa Application

Lawsuit Seeks to Reverse 2019 EB-5 Investor Visa Price Increase

A lawsuit filed by an EB-5 Regional Center is taking aim at the November 2019 price hike for the EB-5 Investor Visa. If successful, the minimum investment amount for EB-5 would almost halve back to $500,000 in a Targeted Employment Area. A federal judge in California has indicated she may be willing to reverse the Trump-Era changes to the EB-5 program rules after a lawsuit filed by Behring Regional Center.

If successful, any changes would likely be short-lived. The EB-5 Regional Center Program is set to expire at the end of June and a reform and reauthorization proposal has started working its way through Congress could set the $900,000 minimum investment level in stone.

The minimum investment requirement for the EB-5 Investor Visa to $900,000 in November 2019 to take account of inflation since the program’s inception in the 1990s. The $900,000 amount relates to investments in a Targeted Employment Area (TEA) – areas with relatively high unemployment. Outside of TEAs the minimum investment requirement rose from $1 million to $1.8 million. The November-2019 rule change also centralised decision making around what constitutes a TEA, transferring authority for this to the Department for Homeland Security.

The rule changes had a significant impact on EB-5 uptake with a sharp drop-off after November 2019. This was partly due to so many people rushing to apply, exhausting pent up demand. Covid slowed the recovery, but green shoots have been emerging as the pandemic recedes. Long term reform and reauthorization in June will provide much-needed certainty and confidence to future investors.

This federal court case could change calculations for some investors. If the price temporarily drops to $500,000 it could cause a massive rush to file EB-5 applications. The application process requires careful documentation of the source of funds used for the EB-5 investment. This can take time to prepare, so anyone considering an application or monitoring this court case for a drop in the investment level should contact us immediately.

The court case comes at a time of brief uncertainty for the EB-5 Investor Visa Program. With reauthorization of the Regional Center Program required before the it expires in June, would-be investors need to weigh their options carefully.

On the one hand, you could tie up your capital under uncertain conditions to pursue the EB-5 Regional Center in case it ends forever in June. Or on the other hand, you could wait until there is certainty in the second half of 2021, but know that the price of that certainty could mean the EB-5 route is closed to you forever. The risk is up to the client, but it is worth talking through your options with an immigration attorney.

The likelihood is that the program will be renewed. The EB-5 Investor Visa brings in millions of dollars in investment and creates hundreds of thousands of jobs all across America at no cost to the taxpayer. It played a valuable role in America’s recovery from the 2008 financial crisis and could do something similar as the US economy recovers from Covid.

Anyone who has already applied for an EB-5 Visa but is waiting an adjudication may wish to file a writ of mandamus in federal court ahead of the June 2021 expiry date. Usually applicants should wait at least two years before resorting to legal action against the United States Citizenship & Immigration Services (USCIS), but the June expiration may change this. Contact us to discuss your specific circumstances.


This article is published for clients, friends and other interested visitors for information purposes only. The contents of the article do not constitute legal advice and do not necessarily reflect the opinions of Davies & Associates or any of its attorneys, staff or clients. External links are not an endorsement of the content.

Behring Regional Center


US Business Immigration Visas: L1, E2, EB5 Comparison Table

Our firm has helped hundreds of business owners and families move to the United States on EB-5, E-2 and L-1 visas. Which visa is best depends entirely on your unique personal circumstances. We recommend every new client have a free consultation with our team to discuss the various options in light of their personal goals, budgets and interests.

L-1 VisasE-1 VisasE-2 VisasEB-5 Visas
Visa available to nationals of any country?Nationals of treaty trader countries onlyNationals of treaty trader countries only
Must I have worked for a related company abroad for one year?
Ability of dependent Spouse to work in US
Can the visa be renewed into perpetuity assuming I re-qualify?
Is a business plan a very key element of a successful application?
Minimum investment RequiredSufficient to operate valid foreign business and US office or business entityNo theoretical minimum, but enough investment to create a real, viable, businessSufficient to fund business enterprise, generally > $100,000 although less is possibleEither USD 900,000
or USD 1,800,000

Visa Duration

One of the key differences is the length of time you can remain in the United States on each visa. The EB-5 visa leads directly to a Green Card (permanent residency). This means you can stay in the United States permanently until such a time as you opt to surrender your Green Card or apply to naturalize as a US citizen.

The L-1 visa and the E-2 visa are both non-immigrant visas. These do not offer permanent residency, but the E-2 visa is perhaps the next best thing because you can renew it indefinitely. Unlimited renewals means that you could technically live in the United States forever, provided the underlying business remains in operation.

The L-1 Visa is renewable up to a maximum of seven years for the L-1A visa and five years for the L-1B visa. After this time you would need to leave the US or transition to another visa or apply for a Green Card. It is best to discuss your options with an immigration attorney. Good fits for the L-1 visa are the EB-1(c) visa or the EB-3 visa. You can of course, also explore options for transitioning to a Green Card from an E-2 visa if you wish to make your presence in the US more permanent and not tied to the E-2 business.

The amount of time granted on your initial L-1 and E-2 visa will vary depending upon where you are from. Each country has a so-called reciprocity schedule which dictates the maximum visa validity period. Note that your visa might not be granted for the full period listed under your particular country. The authorities may wish you to return sooner to check on the status of your business. For example, “New Office L-1 visas” are granted for just a year initially, so checks on your progress can be made.

Investment Requirements

Each visa comes with a different associated investment requirement. The EB-5 Immigrant Investor Visa – as the name suggests – offers a Green Card by investment. The investment requirements are $900,000 for investments in a Targeted Employment Area (TEA) and $1.8 million outside these areas. In practice, the Regional Centers who manage the vast majority of EB-5 investments all work in TEAs and so only the $900,000 applies. If you wish to do Direct EB-5, we would need to make sure the investment is placed in a TEA to qualify for the lower amount.

By conducting due diligence on the Regional Center and its project, an EB-5 investor can mitigate risks not only to the Green Card but also to the return of your capital. Most Regional Centers offer very low rates of interest (in many ways the Green Card itself is the return on the investment). By investing with a reputable Regional Center in a reliable project there is no reason why the investor should not see the return of their capital after several years.

There is no fixed investment requirement for the E-2 Visa. A good rule of thumb is that it should be in excess of $100,000 and must be appropriate for the business you are proposing to start or acquire. We have seen some successful E-2 applicants for less than $100,000, so we encourage you to contact us regardless. The investment does not only need to be cash – it can also be in stocks of inventory, patents, equipment etc.

The L-1 visa does not require investment if you are simply transferring from the overseas branch to the existing branch of a multinational company. New Office L-1 visas inevitably require investment to set up and grow the new US office. This needs to be suitable to the needs of the business.

Work Authorization

The EB-5 visa offers complete freedom to work (or not work) in the United States. A single application/investment can include not just the applicant but any spouse and children under the age of 21. Each family member receives their own Green Card meaning they are free to work in the United States. We find many of our EB-5 clients are motivated by their children university education and work prospects after graduation.

The primary applicant for the E-2 and L-1 visas are obviously required to work in the role they moved to the US to fulfil. Spouses of these visa holders, however, can apply for work authorization in the United States. This offers a lot more employment flexibility than the popular H-1B visa for example, since you are not tied to a particular employer. As non permanent residents, you are only taxed on your US earnings.

There are many different pros and cons to each of these visa categories. It is vital to discuss your personal circumstances with our team so we can take you through every eventuality and thereby determine the best visa for you and your family.


This article is published for clients, friends and other interested visitors for information purposes only. The contents of the article do not constitute legal advice and do not necessarily reflect the opinions of Davies & Associates or any of its attorneys, staff or clients. External links are not an endorsement of the content.


How Could a Writ of Mandamus help with the Upcoming EB-5 Visa Reauthorization?

The EB-5 Regional Center Program faces reauthorization in the US Congress before the end of June 2021. The likelihood is that the program will be renewed, but some EB-5 clients are choosing to mitigate any risk by filing a writ of mandamus.

Congressional Reauthorization

The EB-5 Regional Center program requires periodic reauthorization. This is usually bundled up with “must-pass” appropriations legislation, so there was rarely a chance it would not be renewed. This is not unusual, Congress has so much to consider they often package topics together to lighten the work load. However, this time around is different.

This year, the EB-5 Regional Center program has been decoupled from the “must-pass” spending bills and requires reauthorization by itself. This means Congress needs to evaluate the program on its own merits and determine its future.

The timing is good. The EB-5 investor visa program brings in millions of dollars in foreign investment and creates hundreds of thousands of jobs at no cost to the US taxpayer. It played a helpful role as the US navigated its way out of the 2007/8 financial crisis. It can do the same as the US economy recovers from Covid-19.

There are also thousands of people working in the EB-5 industry all over America. It is not an industry whose benefits accrue to a narrow cluster. In fact, the Targeted Employment Area (TEA) requirements deliberately try to target EB-5 investment at areas of high unemployment as well as rural areas. This aspect was strengthened during the most recent reform to the program in November 2019.

Risk to the EB-5 Regional Center Program

So things augur well for reauthorization. However, in the febrile world of American politics there is always a risk that it would not be renewed . And with risk comes uncertainty. If the program was discontinued, it is not yet clear how existing and new investors will fare.

What is the EB-5 Investor Visa Program?

For new investors, i.e. people who choose to file an EB-5 petition (Form I-526) between now and June, there is a trade-off. On the one hand, you could tie up your capital under uncertain conditions to pursue the EB-5 Regional Center in case it ends forever in June. Or on the other hand, you could wait until there is certainty in the second half of 2021, but know that the price of that certainty could mean the EB-5 route is closed to you forever. The risk is up to the client, but it is worth talking through your options with an immigration attorney. D&A offers free consultations on this an EB-5 Investor Visa more generally.

For existing investors – those that have filed their Form I-526 but have not yet had an adjudication – there are things you could do to try to push USCIS into making a decision on your case faster.

Speeding up your EB-5 adjudication

It is best to engage your immigration attorney at the outset of this process to make sure all steps are taken properly and in a timely fashion. In the first instance, petitioners should contact the USCIS ombudsman’s office. This may not ultimately expedite your adjudication, but it is helpful to show evidence of seeking a solution should a petitioner need to subsequently escalate their case.

The second, perhaps contemporaneous step, is to contact the senator or congressional representative covering the state or district where the EB-5 project is located. Depending upon your circumstances, contacting other lawmakers may also be appropriate.

Read more about delayed EB-5

Writ of Mandamus

After these two steps have been exhausted, and if they do not cause an adjudication then you could consider filing a writ of mandamus. This is a lawsuit in a federal court to determine whether your immigration petition has been unreasonably delayed.

Don’t worry, it will have no bearing on whether or not your I-526 application is successfully approved. It does, however, force USCIS into adjudicating your case quickly if it is judged to have been unreasonably delayed. Sometimes simply initiating proceedings can galvanize action as USCIS has been known to adjudicate a plaintiff’s application in order to avoid progressing with the lawsuit. 

It is advisable to seek advice from an attorney throughout. Contact D&A for a free consultation to determine whether a Writ of Mandamus would be advantageous for your I-526 petition. Our team has filed dozens of successful writs of mandamus actions against USCIS for unreasonably delaying immigrant petitions. We can assist regardless of whether your I-526 application was prepared and filed by Davies & Associates.

The average time between filing a writ of mandamus and receiving an adjudication is around two months, in some cases it can be significantly less. 


This article is published for clients, friends and other interested visitors for information purposes only. The contents of the article do not constitute legal advice and do not necessarily reflect the opinions of Davies & Associates or any of its attorneys, staff or clients. External links are not an endorsement of the content.


Investor Visa Application

EB-5 Investor Visa Reauthorization in June 2021. What you need to know.




The EB-5 Regional Center program is facing reauthorization in June 2021. This has resulted in some uncertainty for current and future clients. Although we do not predict issues for people who file before June 30, there are ways to mitigate your risk:


1. If you are a D&A client, your case was recently approved and you reside outside of the US, we have already contacted the EB-5 unit at USCIS asking them to expedite the transfer of your file to the NVC so that visa processing can begin as soon as possible 

2. If your case was recently approved and you live in the US, we should file your Adjustment of Status application as soon as possible  

3. If your Form I-526 petition is still pending, you may wish to consider a Writ of Mandamus (more on this below)

Click here to learn more about the EB-5 Investor Visa
Click here to contact us to discuss your case directly

Background to Current EB-5 Situation

The EB-5 Regional Center program is currently authorized on a temporary basis.  This means that the program is authorized for a discrete period of time and then it expires unless the temporary authorization is extended.

The EB-5 RC Program is currently authorized through June 30, 2021.  This June 30 date is different than those prior authorization end dates because this is the first time that the EB-5  Program authorization is not tied in with the Federal budget appropriations bill.  In the past, when the budget bill would pass, it would mean the EB-5 RC Program would automatically be extended.  In December 2019 Congress decoupled the EB-5 RC Program authorization from the budget, so that means Congress needs to pass a separate bill to extend the EB-5 RC program.  
 
Senators Grassley and Leahy have a bill drafted that will extend the EB-5 RC Program permanently but it will need receive the approval votes of a majority of Senators to pass.  We are optimistic that it will pass in some format and thus there will be no interruption in the EB-5 RC Program.  However, until it passes, there is obviously some uncertainty on what might happen after June 30.  

USCIS has not given any clarity about what will happen (1) if there is a gap between June 30 and when a new EB-5 RC law is passed or (2) if Congress never passes a new EB-5 RC law and the EB-5 RC Program authorization permanently expires on June 30.  

Our View on Reauthorization of EB-5 RC Program

We are optimistic that in the scenario where there is a gap in time between June 30 and when a new law is passed it will not impact any EB-5 petitions that were filed prior to June 30, 2021.  There have been periods of time in the past when the federal budget did not pass in a timely manner and thus the EB-5 RC Program experienced short periods when it was unauthorized—those short periods of time when the EB-5 RC Program experienced a gap in authorization did not have any impact on the EB-5 applications that were pending with USCIS at the time.  We are also optimistic that even in the unlikely event that Congress never passes a new law that reauthorizes the EB-5 RC Program that USCIS will continue to process all EB-5 related benefits for those who had pending or approved Form I-526 petitions as of June 30.

IIUSA’s View on EB-5 RC Program Reauthorization

In the last two weeks a well-known and respected EB-5 lawyer presented IIUSA’s view on the EB-5 RC Program reauthorization. This view is that if the EB-5 Regional Center Program is not reauthorized, then anyone who is not in the United States on a “conditional green card” on June 30, 2021 will have their EB-5 application terminated and will then have to re-apply all over again (probably with fresh funds) if and when the program comes-back.

How This Impacts My Case

1.         What if I have not filed my EB-5 petition (I-526) before June 30, 2021?:

If the program is allowed to expire in June 2021, then you will be unable to obtain a U.S. green card through the EB-5 RC Program and you would have to wait to see if the EB-5 RC Program is brought back in the future.


2.         I have filed an I-526 but it is awaiting adjudication:

Although the risk may be small, under the IIUSA view your case would be terminated and you would have to make a fresh application in a new project in the future.



3.         I have an I-526 approval but I am awaiting a consular interview:

In this circumstance we believe that the risk to you is lower, although under the strict IIUSA view your case would still be terminated.
 

Writ of Mandamus

 If your Form I-526 petition is still pending, you may want to file a complaint against USCIS in Federal court as soon as possible to ask the court to issue a Writ of Mandamus (WoM) that will order USCIS to make a speedy decision on your case.  Please contact us if you would like to discuss this Writ of Mandamus option further.

While our firm has traditionally counselled clients that there is no guarantee with a WoM and that filing a WoM may in fact have no impact on their I-526 case until the I-526 filing has been pending for two years, the June 2021 reauthorization issue changes our views of the risks involved. Please note, filing a WOM requires an additional fee to be paid. 


Please note, EB-5 applications related to direct investment in a company (meaning NOT done through a Regional Center) are not impacted at all by this June 30 reauthorization date.Copyright © *2020* *Davies & Associates*, All rights reserved.


 This article is published for clients, friends and other interested visitors for information purposes only. The contents of the article do not constitute legal advice and do not necessarily reflect the opinions of Davies & Associates or any of its attorneys, staff or clients. External links are not an endorsement of the content.

FEMA-Compliant Immigration: Remitting Funds from India at the Beginning & End of the Financial Year

The Indian government limits the amount of money a person can take out of the country each year, which can present hurdles to emigration. But a quirk of the system offers an opportunity at the end of the tax year in March.

Since 2015, the Liberalised Remittance Scheme (LRS) introduced by the Royal Bank of India under the Foreign Exchange Management Act (FEMA) limits the amount of money a person can take out of India each financial year to a maximum of $250,000. Whilst this is a vast sum of money for most, these limits can actually be too low for people seeking investment and business immigration.

EB-5 Immigrant Investor Visa from India

Citizenship and residency by investment programs usually require considerably more than $250,000. For example, the United States EB-5 Immigrant Investor Program, requires a minimum investment of $900,000 per family.

Theoretically, it would take four financial years for a single person to remit the necessary funds to pay for EB-5. But in practice, most applicants get friends and families to use their annual remittance allowance to build up the necessary funds in a shorter period of time.

This has implications for documenting the Source of Funds used to pay for EB-5. Each dollar needs to come from legitimate sources and should be adequately accounted for. Any funds being gifted by a relative need to go through the same rigorous scrutiny as your own.

Read more EB-5 Visa for Indians

Split Remittances

Yet some of our Indian clients adopt a different approach. The financial year in India resets on April 1. This means it is possible to transfer $250,000 in March and a further $250,000 a month later in April. That brings the total to $500,000 per person in a short space of time.

Many of our EB-5 clients move with a spouse who would be part of the same investment and application. (A single application and single investment leads to Green Cards for the primary applicant, any spouse and children under the age of 21). So, if both spouses remitted in this way, the applicant family is at $1,000,000 without the need to involve extended family.

The majority of our remaining clients are younger adults, often recent graduates hopeful of staying in the US, but concerned with H-1B or having used up the maximum time allowable on this visa. They often have parental support. Again, using the March/April time period, allows the applicant and a parent to make up the necessary funds.

E-2 Treaty Investor Visa from India

Demand for EB-5 visa from india has become more stable after skyrocketing over the past five years. It is now the turn of the E-2 visa to become the new frontier in Indian immigration to the United States.

The E-2 Visa allows a person to move to the US with their family for the purposes of owning and operating a business. The investment level is usually much lower, and regularly falls well under the annual remittance allowance. Broadly speaking, it should be more than $100,000, but the key is to make sure the investment level would support the needs of the business you are buying or starting.

But here is the rub. Indians are not directly eligible because India does not hold a relevant treaty with the United States. Indian have to first become citizens of an E-2 Treaty country to become eligible. It is not as complicated as it sounds, and we have helped a number of Indian clients move to America in this way.

The E-2 country with the fastest and cheapest route to citizenship is Grenada in the West Indies. It requires an investment in real estate from $220,000 or a donation to the public funds from $150,000. Alone, either the investment or the donation route is below India’s annual remittance cap. But, when combined with your E-2 investment, you quickly surpass the annual limit.

Read more about Grenada Citizenship by Investment

Spouses using both their allowances can aggregate their annual allowance to $500,000 which should be sufficient. But where this is not possible, or where more money is required, the March / April split remittances may prove useful.

With the India to Grenada to E-2 route, there is also more room for manoeuvre with the timings. With EB-5 a client is expected to have all the funds pretty much at once depending on the EB-5 Regional Center you are investing with. But with Grenada and E-2, you can neatly divide the process into two sections and pursue Grenada and then E-2 in different financial years.

But note, the whole India to Grenada to E-2 process is fast. It can take less than nine months in total. So, with this in mind, so the March/April window can still be crucial in certain circumstances.

Living Expenses

So far, we have only talked about remitting the funds needed to secure the immigration status. You need a place to live and money to spend on personal expenses and school fees until you have found work or your business is turning a profit.

All these day-to-day expenses would need to be included in the remittance calculations, enhancing the case for splitting payments around the start and end of the financial year.

Wider World

The United States is not the only destination we serve at Davies & Associates, and it is by no means the only place Indians wish to emigrate. Whether you want to move to the United Kingdom, Canada, Australia, Italy or beyond, you need to consider the limitations posed by the Liberalised Remittance Scheme at the very start of the process.

The window for moving more than $250,000 money in a legally compliant way is now open, but will close again in April. People considering emigrating in the short to medium term may wish to make use of the FY2020-21 remittance allowance to keep their options open over the coming year.

Davies & Associates can help with all of this. Everyone’s circumstances are different. It is best to contact us to discuss your specific situation to work out how your immigration goals can be met in a FEMA-compliant way.


This article is published for clients, friends and other interested visitors for information purposes only. The contents of the article do not constitute legal advice and do not necessarily reflect the opinions of Davies & Associates or any of its attorneys, staff or clients. External links are not an endorsement of the content.


March Visa Bulletin Analysis: EB-5 Visa Wait Times Explained

February Visa Bulletin Analysis: EB-5 Visa Wait Times Explained

The Department of State has issued its February Visa bulletin detailing the latest shifts in the Final Action Dates for the EB-5 Immigrant Investor Visa Program among other employment and family-based visas.

For EB-5, the February Visa Bulletin looks much the same as the January Visa Bulletin. As in January, the only change over the previous month is a two week progression in the Final Action Dates of Vietnamese applicants from September 15, 2017 to October 1, 2017. The Final Action Date for Chinese applicants has, once again, remained static on August 15, 2015.

All other countries are listed as “C” or current. This continues to include India, which had been subjected to an EB-5 visa waiting list known as “visa retrogression” as recently as July 2020.

What this means is that there is expected to be an EB-5 visa available in the current annual quota for anyone born outside China and Vietnam. This means an applicant can progress immediately with their EB-5 application.

The reason for the waiting list is that the number of EB-5 Investor Visas available is limited to just over 700 visas per country per year. Your EB-5 quota is determined by your country of birth. So if your country of citizenship has changed since birth, your eligibility is still determined by where you were born and not where you currently live.

Priority Dates

EB-5 applicants are issued with a priority date, which is the date at which their application was received by the US Citizenship and Immigration Services (USCIS).

For Chinese and Vietnamese applicants, if your priority date is after the date listed under your country in the visa bulletin, you must continue to wait. Eventually the date listed in the visa bulletin will move to a point at which you can proceed with your application. For example, the latest movements of two weeks in Vietnam would affect a small number of applicants who have their priority dates in a two-week window between September 15, 2017 and October 1, 2017.

The dates listed in the visa bulletin can move backwards as well as forwards. The dates are calculated upon assumptions and an averaging of current demand, success rates, and the numbers of visas per application.

For example, one application can include multiple family members each requiring their own visa. In an extreme scenario, an applicant might have a spouse and ten children. That would mean one application would take up 12 of the visas available in the annual quota.

The new administration of President Biden is looking at whether it is feasible to separate dependent family members out of the annual quotas. This would quickly make a dent in the waiting lists.

Date for Filing

The visa bulletin also contains a second set of dates called “Dates for Filing”. This is when you could submit a visa application to the National Visa Center even though there is not yet expected to be a visa available. This is partly to provide some preparation time, but is especially aimed at applicants already living in the U.S. on other visas filing an Adjustment of Status (AOS). Under such circumstances this may have an impact on the applicants ability to continue working legally in the United States.

There was not change to the Date for Filing from the previous month. People from Vietnam can progress ahead, but the date for filing for China-born applicants remains static at December 15, 2015.

Final Action Dates February Visa Bulletin

EB-3 Visa for Highly Skilled Workers

Indians are the main group affected by a waiting list for the EB-3 visa category for highly-skilled workers. The EB-3 is the immigrant (permanent residency) counterpart to the H-1B Visa. Progress remains glacial with little more than a one-week forward movement for Indians from March 22, 2010 to April 1, 2010. The only other country facing visa retrogression is China which moved from December 15, 2017 to January 1, 2018.

The long delay to Indian EB-3 is one of the reasons behind proposals by the Biden administration to remove country caps for employment-based visas. This will significantly assist Indians in the EB-3 Visa category and Chinese in the EB-5 Visa category. This would be great news for applicants who have been queuing for years, but could subject new applicants to long delays.

The annual quota system does not take account of population size. So China and India, with the world’s first and second largest populations, have the same quota as Liechtenstein and San Marino, with fewer than 40,000 inhabitants each. This, combined with a long history of emigration to America, explains why China, India and Vietnam feature so heavily in the Visa Bulletin.


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