Davies & Associates reports record spike in EB-5 filings

Davies & Associates, a US-based law firm representing a significant number of Indian EB-5 investors, has reported a record breaking spike in filing Indian EB-5 petitions in 2017.

The hike has been mainly on account of concerns about a Bill that would terminate the EB-5 programme if passed. The EB-5 programme enables foreign investors to attain lawful permanent residency by investing a certain sum in the US Economy.

 In addition to concerns with the future of the EB-5 programme, clients are also flocking to the EB-5 programme given the increase in the H-1B salary requirements in the H-1B Reform Bill. The potential increase in salary to $1,30,000 would place the H1-B programme beyond the reach of most Indian students graduating in the US, and force them to use the EB-5 programme in order to obtain long-term US employment, the law firm said.

 “This is the first time we have seen a Bill to completely end the EB-5 programme in the US history.  While we feel it unlikely that S. 232 will pass, the Regional Center EB-5 programme is due to end in April 2017 anyway, unless extended by the Congress. If the EB-5 programme is extended in April, there is much higher chance than ever before that the investment requirement will be substantially increased in the near future,” Davies & Associates, LLC global chairman Mark Davies said.