Hello, I’m Vaughan de Kirby. I’m an investment immigration attorney based here in San Francisco. I wanted to address a rumor that we’re seeing in the Indian community, and that is Indian EB-5 investors may face retrogression.
First, let me define that term so you understand what we’re talking about. Retrogression is legalese for a delay. Basically what we have with EB-5 is similar to other visas. There is a limited number of visas available for EB-5 applicants. In the case of EB-5, there are 10,000. What happens when that 10,000 is reached? It goes to 700 per country. In the past, for India that was no problem. For example, in 2015 we saw only 99 EB-5 investor visas issued for India. However, in 2017, we saw 500 applications. So we’ve seen an exponential growth in applications for EB-5 Green Cards from India. What does this mean? Essentially this means if this growth continues, Indian nationals, unless the law changes, will in fact face retrogression. No one, despite the pundits, is able to tell you exactly when this will happen, but according to USCIS, based on the current application volume they have, they expect retrogress to begin in 2019. Now what does this mean to you? Essentially this means if EB-5 is important to you, you should take action now for a variety of reasons. Number one, the sooner you apply, the less likely you will face retrogression. And the date that you file your application, the date USCIS acknowledges the receipt of your application, is your priority date. That is your place in line for your Green Card, which means, the sooner you apply, the closer you’re going to be to your Green Card.
EB-5 is a tremendous way to get your Green Card. It’s straightforward; it’s a good investment for yourself and your family. If EB-5 is indeed important to you, based on the future of retrogression for Indian nationals, I recommend you take action immediately. I hope this information was of help to you. Please feel free to contact our office or call 415-221-2345 if you have any questions.