EB5 Investors Magazine (English Edition) Volume 5, Issue 1 - Page 65

India Booming as Emerging EB-5 Market The need for quality education, challenges of visa backlogs and a desire to live in United States are driving forces behind India’s increased EB-5 participation. Come join EB5 Investors Magazine at its inaugural 2017 Mumbai EB-5 & Investment Immigration Expo in October. By EB5 Investors Magazine Staff E B-5 visas issued to Indian immigrants have increased nearly 30-fold since 2005, according to the U.S. State Department, positioning the market as an increasingly attractive opportunity for regional center projects. In 2005, just five EB-5 visas were issued or adjustments of status made. By 2016, the latest year for which data are available, that figure jumped to 149. There is no doubt that the market has expanded, said William Cook, Managing Member of Global Migration Law Group, PLLC, in Washington, D.C. “With H1-B reform and backlogs for EB-2 and 3, and a lessening of other options, Indians regardless of where they live are becoming aware of EB-5 as an option for them,” said Cook, who served as general counsel of the U.S. Immigration and Naturalization Service under George H.W. Bush. Global Migration Law Group, PLLC, specializes in immigration law, representing foreign investors. According to figures compiled by Invest in the USA (IIUSA), the industry trade association for the EB-5 regional center program, the United States saw $28.5 million in EB-5 foreign direct investment from India in 2014, the latest year for which data are available. Jeff DeCicco, CEO of CanAm Investor Services, LLC, expects that figure to climb to between $100 million and $150 million in 2017. CanAm Enterprises has seven regional centers across the U.S. and has raised more than $2.4 billion in EB-5 capital since 2002. EB5INVESTORS.COM 64