The EB5 visa program is perfect for those who can invest $500,000 in the US economy, says Marc Sharpe, Managing Director of LCR Capital Partners
On his 9th visit to India, in nine months, Marc Sharpe, Managing Director of LCR Capital Partners, talks about the company’s role in opening up India for the EB 5 programme – the fastest, simplest and most reliable way to achieve permanent residency in the United States.
He says people are aware of the H1B visa but ” increasing awareness of the hurdles in acquiring an H1-B visa are leading more and more Indian applicants to consider the EB5 visa program, which is perfect for those who can invest $500,000 legal bills in the US economy,” he said.
Excerpts from the interview:
Why EB5 visa program over other skill-based visas?
It’s an unknown and undiscovered option for many in India. The country is predicted to be the second largest EB5 market in the world in the next few years. Other options generally take longer. H1B visa is becoming incredibly difficult and unpredictable owing to its lottery system. EB-5 is much easier and more certain for Indians who can invest the required capital.
How has the 9 months experience been?
We’ve received an overwhelmingly positive response. People were initially skeptical about EB5 in India, especially since China has historically accounted for 85-90 per cent of all EB-5 visa’s issued. In these past nine months, we have processed more than 30 per cent of all EB-5 investors in India for 2016 and we have a huge pipeline awaiting.
How would it benefit students?
One of the major drivers of EB5 in India is the tendency of sending children to the US for studies and work. There are many advantages if a student is a domestic applicant to a US university or college. Escaping the colossally competitive international quota and applying as a domestic student increases the chances by three to four times to get into a US university or college. Student loans, financial aid, in-state tuition costs, and the chance to work while in the US are some of the tangible advantages of this program.
What are the qualifying factors and risks of this visa program?
To qualify, three things are required:
– Invest $500,000 dollar upfront,
– Pass a robust background test, and
– Source and path of the fund must be legal.
There are also risks associated with it:
– No guarantee on the money invested, and
– The investment must create 10 jobs in US
Think of us as passive fund manager. Our role at LCR Capital Partners is to manage our investor’s capital by selecting safe projects and creating the required number of jobs. We want to make our investors feel safe and welcomed to US.
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