USIF President and CMO Nicholas A. Mastroianni III opens up on streamlining EB-5 visa process.
Is it common for borders to inadvertently mirror the very structures they aimed to dismantle? Maybe not!
While talking to HindustanTimes.com, Nicholas A. Mastroianni III, President and CMO, US Immigration Fund (USIF) has cited ways to handle EB5 Visa backlogs and ease applicants’ way to achieve their American dream. But what do they need to do first? They need to invest “a minimum of $800,000 USD into a new commercial enterprise in the United States.”
While charting the way to the ‘American Dream’ the Florida native strongly said that “hard work” is the only medicine to overcome this chronic issue. “While there are no shortcuts or ‘hacks’ that can guarantee success, there are several strategies that applicants can employ to streamline the process and improve their chances of a successful outcome,” he advised.
“Hard work is the only way.”
He piped in, “U.S. Immigration Fund (USIF) is actively implementing strategies to address the efficient utilization of EB-5 visas, particularly considering potential changes and the small percentage of EB-5 visas compared to other visa categories.” This discrepancy has persisted for years, with no significant reforms or changes.
“And you know one of the primary benefits of the EB-5 visa is that it provides a direct path to obtaining permanent residency that no other visa offers.”
In USIF CMO’s opinion, the 75% time reduction in favour of Indians, amid the same race had emerged as the third-largest group of undocumented immigrants in the US, with numbers surging by 70% since 2011 helped significantly, when we relayed the query that the decreased visa time for Indians by 75%; is it helping in the real world or not?
“Yes absolutely! By reducing wait times, Indian investors may experience shorter processing periods for their EB-5 applications, leading to quicker access to the benefits of the program, such as obtaining permanent residency in the United States,” he stated, while adding, “the full impact of this decrease in wait times will depend on various factors, including continued efficiency in processing, demand for EB-5 visas, and any potential changes to immigration policies.”
While addressing the relatively small percentage of EB-5 visas compared to other employment- and family-based visas, the Florida native spills some beans. “See, USIF has organized roadshows across major cities in India to to raise awareness and encourage early investments,” and added, “Considering the Liberalised Remittance Scheme (LRS) limits for Indians and the impending fee increase on April 1, 2024, the U.S. Immigration Fund (USIF) is offering investors the chance to initiate their EB-5 visa applications with an initial investment of $200,000.” This is a very lucrative way to one seeker can look at comparing the huge backlogs and dressing issue that plagues US visa system.
While we are having a chat over the fact that he U.S. Immigration Fund actively ensures that all eligible immigrant investors benefit from the EB-5 program without delays. The USIF boss stopped beating around the bush. He said White House need to patch some loopholes and abhor some. “Enhancing visa processing efficiency to alleviate delays and attract investment” is necessary, but they need to focus on “ bolstering program integrity and transparency to combat fraud and maintain public trust” while “advocating for legislative reform and modernization to align visa policies with current economic needs.”
He urges the White House to be more efficient and time efficient so Indians in queue don’t have to wait the time period extending beyond 100 years or opt a ‘Dunki’ or ‘Donkey’ way.
“Yes, the EB-5 visa program is fundamentally different from other types of U.S. work visas in several keyways. The EB-5 visa requires applicants to invest a minimum of $800,000 USD into a new commercial enterprise in the United States. In contrast, other work visas such as H-1B or L-1 do not require any investment; instead, they may require sponsorship from a U.S. employer,” Nicholas told us.
The U.S. Immigration Fund (USIF) utilizes insights from Form I-526 submissions and the growing interest in investment-based green cards to shape the policies of USCIS and DOS concerning visa allocations. Still, they are yet to find the lasso to cave in the illegal immigrants (mostly Indian and Pakistanis) issue who were just taking a flight to Mexico and walking across the Mexico-Texas open border while disadvantaging those pursuing legal avenues.
USIF’s approach includes detailed data analysis to discern investor trends, active policy advocacy for equitable and efficient visa distribution, collaboration with industry partners to strengthen advocacy, and interaction with Congress to promote understanding and legislative support. Through these data-informed and strategic advocacy efforts, USIF aims to tailor visa allocation policies better to serve EB-5 investors and the Regional Center initiative.
The article was originally posted by Hindustan Times
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