EB5 Investors Magazine English Edition Volume 6, Issue 2 | Page 91

CURRENT PREDICTIONS FOR INDIA EB-5 VISA BACKLOG D u r i n g a p r e s e n t a t i o n o n O c t . 3 0 , 2 0 18 , C h a r l e s Oppenheim, chief of the immigrant visa control and repor ting for the U.S. Depar tment of State, indicated that based on projected usage, he expected to establish a cut-off date for India EB-5 visas around July 2019. This means that he expects to use approximately 700 visas for Indian nationals in the EB-5 category between Oct. 1, 2018 to June 30, 2019. Immediately after the cut-off date is established, the cut-off date for India would be the same as the one set for China (predicted to be around October 2014). Then, on Oct. 1, 2019, when numbers are released for the new fiscal year, Oppenheim expects the cut-off date for India EB-5 to jump to 2017. Per Oppenheim, for any Indian national who files as of October 2018 and becomes subject to the backlog, the projected wait time from I-526 filing to being eligible for a conditional green card is, at worst, five to six years. 1 AVOIDING INDIA EB-5 BACKLOG year, so if the government expects to issue all available EB-5 visas in a fiscal year, it sets a per-country limit of 7 percent, or approximately 700 visas. The 700 visas include all visas issued for investors and any spouses and children under 21. S ince 2015 , the f irs t year whe re all available EB - 5 visas were allocated, the government has instituted a per- countr y limit in the EB -5 categor y. In order to ensure that no country gets more than its share of the visas, the Depar tment of S tate establishes a cut-off date for all countries and publishes the cut- off date monthly. Every applicant whose priority date (the date of I - 526 filing) occurs before the cut-off date is eligible to obtain his or her immigrant visa. If an i nve s to r ’s p r i o r i t y d a te is n o t current based on that month’s Visa Bulletin, he or she would be ineligible to obtain a visa. The government publishes a new cut- off date each month in the Visa Bulletin and, depending on visa usage, the cut-off date can move forward or retrogress by a few days, months or years. The cut-off date can also stagnate for months. Once the investor’s priority date occurs before the visa cut-off date, the investor is eligible to obtain a green card or immigrant visa. F i r s t , a n y I n d i a n i n ve s to r w h o o b t a i n s h i s o r h e r immigrant visa or green card prior to a cut- off date being established for India, would not be subject to the backlog. If an investor is eligible and able to file an adjustment of status application (Form I-485) in the U.S. prior to the backlog, the investor will be able to get work authorization and a travel permit, and can continue to renew such work authorization and travel permit until the priority date becomes current. Any Indian investor who was born in a different country — UA E , Oman, Singapore, etc. — would also not be subject to the Indian visa backlog. Your countr y of chargeability, that is, the country an investor and family member’s visas will be counted against, depends on the investor’s country of birth. A d d i t i o n a l l y, a n i n v e s t o r c a n a l s o u s e h i s o r h e r sp ouse’s c ou n tr y of bir th. S o, if the investor was born in India but the spouse was born in Dubai, then the entire family can use “cross - chargeabilit y ” and be counted toward the visa numbers for UAE instead of India. Since there is no visa backlog for EB-5 visas for UAE nationals, the entire family would be immediately eligible to apply for a green card after I-526 approval. "Any Indian investor who was born in a different country — UAE, Oman, Singapore, etc. — would also not be subject to the Indian visa backlog" I t ’s i m p o r t a n t to n o te tha t a n inves to r c an not use a c hild ’s country of birth for cross- chargeability. So, if both the investor and spouse were born in India but their child was born in Singapore, the entire family would be subject to the India EB -5 visa backlog. EB5INVESTORS.COM 91