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Business Standard
12-06-2025
- Business
- Business Standard
F-1 to EB-5 visa: How rich Indian students in US seek easier green card
An increasing number of Indian families are opting for the EB-5 investor visa route to secure permanent residency in the United States, as US President Donald Trump tightens controls on student and temporary work visas. The EB-5 visa programme grants Green Cards to foreign nationals who invest 800,000 (approximately Rs 7 crore) in a qualifying US business project. That investment must generate or preserve at least 10 jobs for US workers. Record surge in Indian EB-5 filings "In the first four months of FY2025 alone, Indian applicants filed over 1,200 I-526E petitions across reserved visa categories — more than any prior full year on record," Nicholas Mastroianni III, president and CMO of United States Immigration Fund (USIF), which operates EB-5 regional centres in the US, told Business Standard. According to data obtained through the Freedom of Information Act (FOIA) and published by the American Immigrant Investor Alliance (AIIA) in February 2025, total EB-5 petitions from Indian nationals since October 2022 have exceeded 1,790. Year-wise Indian EB-5 petition filings: FY2020: Around 290 FY2021: Between 80 and 100 (impacted by Covid-19) FY2022: Over 1,100 (post-Reform and Integrity Act revival) FY2023: Around 650 to 700 FY2024: Around 600 to 700 b(October 2024 to January 2025): Over 1,200 "Projections suggest India may cross 2,000 petitions by the end of FY2025 if current momentum continues," Mastroianni added. Who is applying, and why? According to CanAm Enterprises, which manages EB-5 projects, there is a growing number of Indian parents filing petitions while their children are still pursuing undergraduate degrees in the US. Earlier, most applicants were professionals on H-1B visas or parents applying after their child's graduation. Piyush Gupta, vice president for India and the Middle East at CanAm, told Business Standard, "There's a shift. More families are filing in the first or second year of the student's undergraduate programme." Factors contributing to the urgency include: • Risk of visa retrogression in reserved categories like rural and high-unemployment areas • Fears over the proposed 5 million "Trump Gold Card" visa • Stricter enforcement of F-1 student visa conditions • Growing use of social media checks in visa adjudication A hedge against visa uncertainty "Indian parents are increasingly viewing EB-5 as a strategic insurance policy against the uncertainties of H-1B lotteries and student visa limitations," said Varun Singh, managing director at XIPHIAS Immigration. Gupta noted, "There is increasing scrutiny and unpredictability around temporary visa statuses. Parents are unwilling to let their children face decades of visa and work restrictions. EB-5 offers a more direct and secure alternative." "The concurrent filing option is also a major pull," he said. It allows eligible applicants already in the US to file their EB-5 petition and a Green Card application simultaneously, enabling them to work and travel while the case is pending. Mastroianni added, "It's not just about faster Green Cards. It's about independence from lotteries, employers and annual renewals. EB-5 puts families in control." The Trump Gold Card effect The Trump administration's plan to introduce a 5 million investor visa has further pushed Indian applicants to file under the current EB-5 terms. But would the EB-5 still be viable if replaced? "Policy proposals come and go. EB-5 has statutory backing and any replacement would face legal scrutiny," Singh said. "Still, a rise in costs or tighter rules could spark a short-term rush to lock in today's benefits." Gupta pointed to the programme's grandfathering provision, which guarantees that petitions filed before September 30, 2026, will be processed under current rules. He added, "Even if policies change, those who file on time will be shielded. This provides long-term stability." Protective measures in place To address concerns about the security of funds, most regional centres use protected escrow accounts. These accounts hold the investment until USCIS confirms receipt of the petition. "If the petition isn't properly filed, the funds are refunded. These systems offer confidence and legal safeguards for investors," Gupta explained. Why Indian families are acting now Recent developments over the past year have shaped investor sentiment: • In May 2025, the US Embassy warned that minor academic violations could lead to immediate F-1 visa cancellation • SEVIS terminations are increasing due to delays in reporting post-graduation work permits • Visa renewal procedures now involve social media checks, making them less predictable According to Mastroianni, families are not waiting for problems to arise. "They're acting before Optional Practical Training ends or visa rules change." Advantages of the EB-5 visa for Indian students and families Mastroianni listed the main draws: • No employer sponsorship or lottery dependence • Concurrent filing allows students in the US to apply for Green Cards and get work/travel rights quickly • Structured financing solutions help families comply with the RBI's 250,000 Liberalised Remittance Scheme cap Drawbacks and risks Singh cautioned that the EB-5 programme carries risks. "The 800,000 must be invested 'at-risk' for years. There are no guaranteed returns. Projects must meet USCIS job creation and compliance standards. And timelines can vary," he said. Gupta elaborated on investment types: Debt-based investments: These offer more predictable, modest returns (typically 0.25% to 0.5% annually) and clearer exit timelines (usually 4–5 years). Equity-based investments: These carry higher return potential but are riskier, with no guaranteed return or fixed timeline "Most seasoned investors choose debt models because of their predictability and seniority in repayment," he said. Legal challenges around "source of funds" and job creation requirements also add to the complexity. Alternatives to EB-5 Singh noted that while EB-5 remains the only direct investment route to a Green Card, there are workarounds. "The E-2 visa is a common substitute, but India doesn't have a treaty with the US. Some families use Grenadian or Turkish citizenship to qualify. Others look at EB-1C or EB-1A categories, though these are harder to qualify for." He said, "No other route offers EB-5's mix of clarity and control. If changes come, those who filed early will benefit most." Mastroianni added, "Why spend a decade waiting in line when you can secure permanent residency with confidence today? EB-5 isn't just a visa. It's a well-defined legal route for Indian families to settle in the US."
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Business Standard
09-06-2025
- Business
- Business Standard
EB-5 visa gains popularity as Indians face H-1B and F-1 challenges
The EB-5 visa program is fast emerging as a preferred route for individuals looking to migrate to the United States (US). In the first quarter of calendar year 2025 (CY25), a total of 4,608 EB-5 visas were granted globally, marking a 90 per cent year-on-year (Y-o-Y) increase. Nicholas Mastroianni III, president and chief marketing officer of the US Immigration Fund (USIF) — one of the leading EB-5 regional center operators — said demand from Indians has risen, both among those residing in India and those already in the US on H-1B and F-1 visas. 'There's a clear uptick in interest. We've seen more inquiries from people still in India, and also from parents of students on F-1 visas. The current uncertainty around H-1B and F-1 statuses in the US is prompting families to explore EB-5 as a more secure route,' Mastroianni told Business Standard during his visit to Mumbai. The trend is reflected in the numbers. As of year-to-date (YTD) 2025, Indian nationals had filed 649 EB-5 visa petitions under consular processing. When combined with adjustment of status (AOS) applications — filed by those already in the US — the total is expected to surpass 2024's figure of 733 petitions. EB-5 visa program has been around for 30 years now, but has been underutilised, according to Mastroianni. For USIF, India is its second-largest market, after China. As a route for immigration, EB-5 program also has a cap of issuing 10,000 visas annually. The program also has a 7 per cent cap per country to ensure fair distribution of visas. An individual opting for this route has to pay a fee of $800,000. Since 2016, USIF has facilitated the migration of 200-250 Indian families. 'Just since January, we've seen nearly 50 families from India move ahead with the EB-5 process,' Mastroianni said. Significant reforms in 2020 included a 40 per cent fee hike and stricter compliance, which briefly slowed investor interest. Currency restrictions and broader global uncertainty also contributed. However, 2025 has brought a resurgence in demand, said Mastroianni. However, he added that since the beginning of this year, EB-5 as a category has seen a significant pickup. 'One of the reasons is the clarity, so anyone who files a petition under EB-5 now will be grandfathered under the EB-5 reforms until September 30, 2026,' he said. This basically means that even if the program gets modified or changed, the petitions filed will continue to be processed. When asked about the proposed 'Golden Visa' or 'Gold Card' for the US, Mastroianni said the EB-5 and Gold Card could coexist. 'The Gold Card still needs approval by both Congress and the Senate. Proposals like exempting participants from taxes would require changes to IRS codes — that's no small feat,' he said. Moreover, whenever the Gold Card becomes a reality, it will focus on wealth-based migration, whereas EB-5 brings investors to the US. The EB-5 route allows individuals to become investors. 'The USIF is a fund, we have more than 25 funds that pool or bring investors together and finance projects in the US. These investments have to create jobs. Several political leaders in the current US government are aware of the EB-5 impact. Rather many of the members' real estate projects have seen investment from EB-5 petitioners, hence they are aware the kind of jobs that have been created in the US,' he said. With the uncertainty over visa only increasing, USIF also launched another program called the 'Opportunity Fund Lender'. 'Investors across the world or even those in the US can invest through EB-5 with $400,000. They can finance up to 50 per cent of the rest of the investment, depending on their qualification,' said Mastroianni.
Zawya
05-02-2025
- Business
- Zawya
Top EB-5 experts to present exclusive investment opportunities at IREX 2025 in Dubai
Dubai, UAE: The 20th edition of IREX will take place on 7th and 8th February 2025 at Hotel Taj, Business Bay, Dubai. The event provides a unique platform showcasing diverse opportunities for international real estate investment, residency, and citizenship programs across the globe. The conclave will bring together international real estate companies, residency and citizenship consultants, legal experts, government bodies, property developers, and other stakeholders under one roof. Many exhibitors will feature the U.S. EB-5 visa program, which offers a fast-track pathway to obtaining a U.S. Green Card. The EB-5 Visa Program is an investment-based visa initiative by the U.S. government that enables foreign investors to obtain U.S. permanent residency by investing in projects that create at least 10 full-time jobs. Launched in 1990, this program requires a minimum investment of USD 800,000 in an EB-5-approved real estate project, fund, or business. UAE investors and affluent expatriates are increasingly exploring secondary residency and citizenship-by-investment options worldwide, driven by the region's economic expansion and growing wealth. The recent influx of ultra-high-net-worth individuals (UHNWIs) from Ukraine, Russia, and neighbouring countries has further spiked demand for investor visas and second passports. Notably, EB-5 companies report a 40% increase in U.S. EB-5 applications from UAE-based investors over the past two to three years. 'The EB-5 Program is the fastest, easiest, and most secure path to a U.S. Green Card—and citizenship if desired. EB5 United has helped over 1,500 investors and their dependents obtain more than 2,000 U.S. Green Cards. We've facilitated over $1 billion in EB-5 funding by selecting projects with safe investment structures backed by well-capitalized developers. At IREX, we will showcase our USCIS-approved projects, such as Montana-based Yellowstone Club (YC) Phase II and Florida-based Lakefront Estates & Villas, highlighting the benefits of projects with priority processing,' said Brennan Sim, Global Sales, EB5 United. With Dubai emerging as a key market for investor visa options, leading U.S. regional centers are prioritizing the Middle East and Asian markets, offering high-potential EB-5 investment opportunities. Nicholas Mastroianni III, President of U.S. Immigration Fund, stated: 'USIF is proud to bring our expertise and innovative solutions to IREX Dubai, addressing challenges investors face in today's U.S. immigration landscape. Amid uncertainties like H-1B visa limitations and potential EB-5 retrogression, timely investment is critical. At IREX, we'll share exclusive insights into USCIS-approved projects, policy updates, market trends, and strategies for navigating the EB-5 process with clarity and confidence. Our goal is to help investors achieve their U.S. residency goals seamlessly and securely.' Key participants in the show include EB-5 regional centers such as CMB Regional Centers, EB5 United, EB5 Capital, Pine State Regional Center, U.S. Immigration Fund, and Manhattan Regional Center. Leading EB-5 law firms, including Donoso & Partners LLC, will also be present to address legal inquiries from investors. An EB-5 Experts Panel discussion, sponsored by EB-5 Capital and Pine State Regional Center, will take place on the first day of the conference to educate prospective investors about the program. 'EB5 Capital has over 15 years of experience in the EB-5 industry, serving 2,100+ investors from 75+ countries. At IREX, we'll showcase our rural EB-5 project, JF44 Vail Valley Project, a 242-unit multifamily development located near the renowned Vail Ski Resort. We're excited to connect with UAE investors seeking permanent residency in the U.S. through job-creating enterprises,' shared Brian Ostar, President, EB5 Capital. The event's platinum sponsors include CMB Regional Centers, USA; U.S. Immigration Fund, USA; Lux&Easy Residences, Greece; Orilina Properties, Greece; EB5 United, USA. Other notable participants include EB5 Capital, USA; Greca Group, Greece; and Pine State Regional Center, USA, MIBS Group, Greece; Sidwell Wealth Management, Portugal; HomeAbroad INC, USA Real Estate; Ultimate Consultancy, Malta; Manhattan Regional Center, USA; KARITZIS LEGAL – & ASSOCIATES LLC, Greece & Cyprus, and many others. 'CMB Regional Centers, with over 27 years of EB-5 expertise, is proud to have returned more than $1.3 billion in capital to investors across 80+ EB-5 offerings. We're excited to participate in IREX Dubai and engage with attendees at this premier event,' said Matt Hogan, Vice President of Project Development, CMB Regional Centers. 'Pine State Regional Center, a subsidiary of Arkansas Capital Corporation with a 67-year legacy, has successfully financed advanced steel facilities and created over 20,000 jobs with EB-5 investments. At IREX, we'll showcase HYBAR POWER, a renewable energy project supporting the world's most advanced rebar plant. We invite investors to explore this premium opportunity backed by strong government support,' remarked Sebastian Stubbe, CEO, Pine State Regional Center. The conclave will also spotlight international real estate and golden visa and citizenship options from 12+ countries, including Canada, Greece, Portugal, Malta, and the Caribbean Islands, with investment sizes starting at AED 1.5 million. IREX is organized by GMN Media Pvt. Ltd., New Delhi, and has successfully hosted 19 editions since its inception in 2015.
