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Business Standard
4 days ago
- Business Standard
USCIS says no citizenship for immigrants without good moral character
Want to apply for US citizenship? United States Citizenship and Immigration Services (USCIS) on Wednesday warned, 'Applicants for naturalisation without 'good moral character' need not apply.' USCIS mentioned a case of an immigrant who entered the country with an active warrant for larceny – Grand Theft Auto – prompting authorities to be notified. 'Becoming a #NewUSCitizen is a great privilege – an honour granted to those who embrace values, responsibilities, and freedoms that define our nation, not a guaranteed right owed to all,' said USCIS in a post on X (formerly Twitter). Ketan Mukhija, senior partner at Burgeon Law, explained to Business Standard, 'In the context of US naturalisation law, 'good moral character' is a legal standard requiring applicants to demonstrate, during the statutory period (typically the five years preceding the application), that their behaviour aligns with the ethical and moral standards expected of the average member of the community. This goes beyond simply avoiding criminal convictions; it involves showing honesty, responsibility, and respect for the law, such as fulfilling tax and family obligations, avoiding fraud or deceit, and upholding civic duties.' What is naturalisation? Naturalisation is the process by which a Green Card holder becomes a US citizen. It usually takes between three and five years, depending on the individual's circumstances. Applicants must meet residency requirements, show good moral character, pass English language and civics tests, and take an oath of allegiance. The application costs $760, though military applicants are exempt. USCIS offers a $50 discount for online applications. Average processing time is around 4.9 months but can vary. What does good moral character involve? * Criminal history, including arrests and convictions * Compliance with tax laws and financial responsibilities * Honesty in immigration applications and interviews * Community behaviour over time Common reasons for failing to meet this requirement * Criminal convictions and aggravated felonies such as drug trafficking, rape, sexual abuse of a minor, or fraud over $10,000 * Unpaid federal or state taxes * Failure to pay child support * Lying to USCIS or committing immigration fraud * Habitual drunkenness, multiple DUI offences or substance abuse * Involvement in illegal gambling or prostitution For example, those with multiple DUI arrests may be asked to show proof of alcohol counselling or drug treatment programmes. Permanent bars to good moral character Some offences permanently bar an applicant from naturalisation, according to USCIS: < Murder < Aggravated felonies (after November 29, 1990) including crimes of violence or theft with prison terms of one year or more < Genocide, torture or particularly severe violations of religious freedom Aggravated felonies include: Murder, rape or sexual abuse of a minor Drug trafficking or illicit firearms trafficking Money laundering over $10,000 Fraud or deceit with losses over $10,000 Alien smuggling Document fraud or misuse of visas The US Immigration and Nationality Act defines each of these offences in detail. What is the naturalisation process? Application for naturalisation (Form N-400): This can be filed online or on paper. Military applicants and those seeking fee waivers must use paper applications. Biometrics appointment: Usually within a month of submitting the application. Applicants' fingerprints are taken for background checks. Citizenship interview and exam: Around 14 months after applying, USCIS conducts an interview and tests applicants' English skills and US civics knowledge. Oath of allegiance: After approval, applicants attend a ceremony, hand in their Green Card, and receive a Certificate of Naturalisation. Benefits of becoming a US citizen Becoming a US citizen brings several benefits. It grants the right to vote in federal elections and eligibility to run for public office, offering a chance to actively participate in the country's governance. It means freedom from repeated immigration paperwork and the chance to take up jobs that require citizenship, such as certain government roles. US citizens can also access government benefits like Social Security and Medicare, and they are protected from deportation, no matter the circumstances. Citizenship allows them to sponsor family members for immigration, provides automatic citizenship for their children, and grants a US passport, making international travel easier with visa-free access to many countries. For many Indians becoming a US citizen is a still a dream. Over a million Indians are currently waiting for Green Cards, with some facing decades-long waits due to annual caps and per-country limits. The Department of Homeland Security said in 2022 that there were 12.9 million Green Card holders living in the US, with 9.2 million eligible for citizenship.
Time of India
29-04-2025
- Business
- Time of India
For some public floats, expenses can be up to 17% of funds raised
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: Indian companies spent between 1.5% and 17% of the funds raised through initial public offerings (IPOs) as expenses in the past three years, according to data compiled by consultancy firm Uniqus Consulting. The expenses related to a public listing include fees paid to investment bankers, lawyers, auditors, advisors and capital markets regulator larger the IPO, the lower the expense ratio, the data showed. Offerings under ₹500 crore incurred average costs of 9.3%, while mega IPOs above ₹5,000 crore managed to keep expenses down at just 2.6% on average. "This disparity is because while book running lead manager (BRLM) fees-which make up nearly 49% of IPO expenses-are variable and scale with issue size, most other costs such as legal counsel, statutory auditors, Sebi filing fees and printing are largely fixed," said K Raghuram, partner at Uniqus Consulting. "Smaller issuers end up absorbing a larger proportion of fixed costs, while larger issuers benefit from economies of scale and stronger brand visibility." Mukka Proteins spent 17.1% of its ₹224 crore issue size on IPO-related expenses. Similarly, Shah Polymers incurred expenses amounting to 16.6% of its ₹66 crore contrast, larger issuances had significantly lower expense ratios. Bharti Hexaware's ₹4,275 crore IPO incurred 1.51% in expenses, while Bajaj Housing's ₹6,560 crore and Hyundai Motor India 's ₹27,870 crore IPO entailed 1.68% and 2.24% expenses, expenses in India are broadly in line with global trends, said lawyers."Compared to global markets like the US, where underwriting and regulatory costs can be even higher, Indian IPO expenses are competitive and justified by the intense due diligence, marketing and compliance efforts required," said Ketan Mukhija, senior partner, Burgeon companies typically incur less than 1.5% of the issue size as IPO expenses. Companies such as NTPC Green Energy and LIC recorded exceptionally low expense ratios of 0.54% and 0.58%, respectively. BRLM fees continue to dominate, accounting for nearly half the IPO expenses. These are closely followed by payments to legal advisors and statutory auditors (15%), listing fees (10%) and marketing spending (about 9%).In 2024-25, the average issue size swelled to ₹2,057 crore from ₹814 crore in the previous financial year, reflecting a growing appetite for large-scale fundraising and increased confidence in Indian capital markets. Average listing expenses also went up-to ₹80 crore in 2024-25 from ₹47 crore in 2023-24.
