EB5 Investors Magazine Volume 2 Issue 1 | Page 14

India The Next EB-5 Frontier by Rohit Kapuria India’s diaspora of some 25 million people is a force to be reckoned with. During colonial times, thousands of Indian laborers and traders were dispersed across the world. Between 1970 and 1990, as India’s economy faltered under Nehruism, a second wave of Indian traders headed for the booming economies of the Arabian Gulf and Southeast Asia. Simultaneously, a new class of educated Indians migrated to the west and assimilated therein. Rohit Kapuria 12 Today, there are several offshore hubs—Dubai, Doha, and Singapore—that contain a sizeable Indian population capable of flexing serious economic muscle. Alongside this group are elite plutocrats who own firms in India, maintain residences in Europe and the United States, educate their children in London and New York, and even adopt citizenship elsewhere. Although many Indian citizens contemplate immigrating to the west, they are largely unaware of the EB-5 program. While Indian EB-5 investors have traditionally represented less than two percent of the annual EB-5 filings, I predict that India will prove herself as the next big EB-5 market. As retrogression threatens the availability of EB-5 visas for Chinese investors, the market will likely turn to other sources. Prior to exploring the Indian EB-5 market, it is important to understand the country’s financial history and economy. E B 5 I n v e s to r s M ag a z i n e