Chopras Group, U.S. Immigration Fund aim to raise USD 125 mn by 2018 from India for investments in U.S.
ANI | Updated: Nov 07, 2017 15:56 IST
New Delhi [India], Nov. 7 (ANI-BusinessWire India): A leading education group, The Chopras Group and U.S. Immigration Fund (USIF), America's leading foreign direct investment firm in the business of raising EB-5 capital, on Tuesday, said they aim to help 250 Indian investors immigrate to the United States through the EB-5 program by raising USD 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 USD 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.
"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," said Chairman and CEO of U.S. Immigration Fund, Nicholas A. Mastroianni II.
"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," he added.
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," said Managing Partner, The Chopras Group, Shan Chopra.
"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," added Chopra.
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 USD 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 percent of approvals have come since 2014.
"The EB-5 Program has helped tens of thousands of families across the world successfully migrate to the U.S. Whether people are looking for their children to receive an education in America, pursue employment opportunities or start a new chapter of their life residing abroad, the EB-5 Program has proven to be the most efficient means for pursuing one's life and goals in the United States," added Nicholas Mastroianni III, President of U.S. Immigration Fund. (ANI-BusinessWire India)