The Chopras Group (The Chopras) a leading education group and U.S. Immigration Fund
(USIF), America’s leading foreign direct investment firm in the business of
raising EB-5 capital, today, said they aim to help 250 Indian investors
immigrate to the United States through the EB-5 program by raising $125mn
in foreign investment from India over the next 15 months. The capital
is being raised for investments in key real estate projects across the United
States as part of the EB-5 visa program which facilitates foreign investors to
obtain a U.S. visa for them and their family.
Funds raised from investors will
be deployed in various current and upcoming commercial and residential real
estate projects by leading developers and backed by prominent senior lenders.
Previous USIF projects have been backed by major financial institutions
including Blackrock, Wells Fargo and J.P. Morgan.
USIF and The Chopras expect to secure 200 investors through 2018
having seen significant demand since the launch of the partnership in late
September 2017. USIF has been actively working in the market since the
beginning of 2017 and expects to raise $50mn by year-end. EB-5 visas for
Indians have steadily increased over the last few years with 76 Indian EB-5
visas issued in 2012 to 149 visas issued in 2016.
Chairman and CEO of U.S. Immigration Fund, Nicholas A.
Mastroianni II said, “Our partnership with the
Chopras has allowed us to grow exponentially over the last six weeks and gives
us the confidence to move forward and set clear milestones for ourselves for
the next 12-15 months. Our intent is to gain majority market share in EB-5
capital raised from India and we strongly believe this can be accomplished as
the market is expected to grow significantly. The Chopras’ credibility is an
asset for us and truly provides assurances and comfort to our EB-5 investor
families as they embark on what could otherwise be a very complex and difficult
journey. The Chopras’ impeccable reputation, breadth and depth of service
offerings, and longstanding history throughout India will allow us to reach
families across the country enabling us to better assist them with immigration
aspirations for themselves and their children.”
The Chopras have supported USIF in building a large platform for
EB-5 and establishing a dedicated infrastructure for the offering across all
their 26 offices in major cities including Delhi, Mumbai, Bangalore, Hyderabad
and Ludhiana. These operations will include Investor Relations and backend
operations to support and educate investors through the entire EB-5 process.
To date, investor interest and investment has primarily come
from Delhi and Mumbai. However, following direct outreach and investor education
programs undertaken by The Chopras and USIF, strong interest from regions like
Punjab, Bangalore, Pune and Hyderabad has surfaced.
The Chopras and USIF are rapidly developing their partnership
throughout India to lead the frontier of the EB-5 Investor visa program and
help educate potential investors through their seminars. After a successful series of events in
September and October, their teams are now scheduled to meet with investors in
a series of Global Education Interact events alongside exclusive seminars in 8
major cities throughout November and December 2017.
These seminars enlighten potential
investors on the history of EB-5, its benefits compared to other visa
categories, how to choose a regional center, perform due diligence, and procure
methods to protect investments. Both firms are making
progress very quickly to establish a nationwide infrastructure to manage the
client needs from start to finish in the execution of the EB-5 investment
program.
“The United States attracts the best and the brightest from
India, with mobility of students climbing to almost 50,000 every year. Student
decisions on countries and programs strongly align with desired career outcomes
and future objectives, and the EB-5 program is a strong route for advancing
future opportunity. We’ve already witnessed significant demand for our offering
since the roll out of our partnership six weeks ago, with many interested in
the program for business expansion, employability and, of course, higher
education. Overall, the offering provides
freedom and flexibility to many aiming to build a global future for their
families in an emerging India”, said Shan
Chopra, Managing Partner, The Chopras Group.
Potential investors also have the
opportunity to attend one-on-one meetings with The Chopras Team, a regional
center representative, and an immigration attorney partner. This allows
potential investors to ask questions about the EB-5 program and begin their
path to residency in the U.S. These one-on-one meeting
are available in all 26 offices operated by The Chopras across 20 cities, and
growing, including Ludhiana, Delhi, Mumbai, Bangalore and more.
The EB-5 Program was created by the U.S. Congress in 1990 to
enable high net worth Foreign Investors to obtain a U.S. visa for themselves
and their immediate family by investing a minimum of $500,000 in a U.S.
business that will benefit the economy and create 10 jobs for American
workers. As per data available from the Department of State and USICS,
while 65,992 I-526 approvals were received for the period 1991-2016, more than
60% of approvals have come since 2014.
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