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Comment: Dramatic EB5 Transformation In Latest USCIS Data
Dramatic EB5 Transformation In Latest USCIS Data
Introduction: Latest EB5 USCIS data show that India had more EB5 investors than China in the most recent reported quarterly numbers. This impacts every single EB5 country. See the table below.
(Source: lucidtext blog)
It is therefore critical to understand what is happening with India-born investors to understand the global trends in EB5 which affect each and every country.
EB5 players with investors in East Asia in China, Korea, Vietnam and Taiwan (agents, attorneys etc) know the motivating factors for doing EB5 investments in their respective countries. The general and dominant pattern is that most EB5 are done for young people in their 20s getting a start in life, often as students and sometimes as young professionals on H1Bs, and also young families moving to the US for their school-age children. People assume that all countries have similar motivation - this perception is false - and understanding the one major exception is critical to understand EB5 global trends which affect each and every country in the world, including all the countries in East Asia.
The major exception to the general pattern above is India. India is already nearly 40% of EB5 global investments as the latest USCIS data above show and is likely to rocket up to 60% in 2027. The big EB5 issuers will likely gear their EB5 offerings for this majority EB5 market, and away from the preferences of investors in China, Korea, Taiwan and Vietnam. So even if you have no interest whatsoever in Indian EB5s as an agent in China, Korea, Vietnam or Taiwan or an attorney specializing in one of these countries, you must understand the motivation of Indian EB5 applicants, because they will shape the EB5 offerings you will see in your country in the future, and are already beginning to see today. Cato Institute, a respected US think-tank, calculated the waiting times for Indians waiting to get their green cards through employment on EB2 and EB3. Due to fixed per-country quotas and a massive number of Indians immigrating to the US, the wait time for Indians with advanced degrees is over 150 years!!! Year by year these expected wait times keep getting worse, not better, so for Indians without family connections to the USA, its either EB5 or bust (unlike EB2 and EB3 applicants from China, Korea, Taiwan and Vietnam, who would need to wait only 5-7 years for an EB2 or EB3 green card). Thus, as the quota waits for EB5 begin to exceed 5 to 10 years or even 15 years for East Asians, making EB5 an unattractive option for East Asians, Indians see even 20 year waiting periods for EB5 as far preferable to 100+ years for EB2/EB3. So, as quota waits increase in EB5 over time, India will dominate the EB5 category more and more. This is in addition to the fact that each year, India creates more new millionaires than China does (this has been true for each and every year over the past decade, contrary to popular belief). See the table below and click on it to read the Cato report, and see the astonishing numbers for yourself.
As a result, the profile of Indians doing EB5 is dramatically different than all other countries. Indians doing EB5 are typically technology professionals in the US in their 30s and 40s who have made significant money on their stock options in the tech industry in USA. So the two major differences between Indian investors and investors from East Asian countries are (1) Motivation and (2) Source of Funds. Their motivation is to escape long EB2/EB3 waits, so even a 20-year EB5 quota wait is not too long for the India-born. Also, their Source of Funds is often entirely USA-based, from tech company stocks.
Conclusion: In the future, EB5 offerings will be shaped by preferences of Indian EB5s. So if you are interested in EB5–and even though you have NO interest in pursuing Indian EB5 investors–it is necessary for you to understand the motivation of Indian EB5 investors. This is true for agents and attorneys specializing in China, Korea, Vietnam or Taiwan.
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