Newly appointed Managing Director at FirstPathway Partners, Asif Chhipa whose territories cover India and the Middle East, shares his U.S. immigration journey and insight on the EB-5 program process.
With over 13 years of experience in business development and investor relations, promoting citizenship by investment programs such as the EB-5 Regional Center Program, Asif is well versed in the EB-5 industry as both an agent, and as a fully-redeemed EB-5 investor himself.
To learn more, or contact Asif Chhipa, you can email him directly at achhipa@firstpathway.com
Newly appointed Managing Director at FirstPathway Partners, Asif Chhipa whose territories cover India and the Middle East, shares his U.S. immigration journey and insight on the EB-5 program process.
With over 13 years of experience in business development and investor relations, promoting citizenship by investment programs such as the EB-5 Regional Center Program, Asif is well versed in the EB-5 industry as both an agent, and as a fully-redeemed EB-5 investor himself.
To learn more, or contact Asif Chhipa, you can email him directly at achhipa@firstpathway.com
Hello everyone and welcome back. I'm excited to announce today's guest Asif CIPA. Asaf is the newly appointed Managing Director at first pathway partners whose territory is covered India and the Middle East. Asset brings over 13 years of experience in business development and Investor Relations promoting citizenship by investment programs, such as the EB five regional center program. He is very well versed in the EB five industry as both an agent and as a fully redeemed Eb five investor himself. In today's episode aasif will be sharing success story and journey of the EB five program. Let's get into it.
Unknown Speaker :Asif, Welcome to the podcast.
Unknown Speaker :Well, thank you very much. Thanks for having me over here.
Unknown Speaker :It's so great to have you on So I've already given our audience a brief background of yourself and your involvement with the EB5 program. But we would love to hear more about yourself and your journey through the program, and what investment opportunities and services first pathway partners can offer to anyone looking to immigrate to the United States.
Unknown Speaker :Well, thank you very much, first of all, once again, and the most important thing that on my journey all started back in 2010, when I came first time in United States on my visitor visa, so at the time, I realized, okay, yeah, this is the country that I will just want to be in for my future point of view as well as a future generation my kids. So, in that time, at that time, you know, I just never knew that there is a program called EB5, but then, you know, some one of my friend just told me that you know, there is a proportionality in the form of EB5, where you have to go for the investment of $500,000 in an appropriate project and that would be government recognized regional center. So, in 2012, actually, I started to you know, look for the you know, different aspects Have the EB5 and I dig into more and more and I thanks because I had you know, my, you know, the visitor visa with me so I can, you know, I could come over again and had some meeting with regional centers and attorneys.
Unknown Speaker :Now how did you start looking into regional centers?
Unknown Speaker :Well honestly speaking at the time act absolutely a hardcore new one universal know nothing about it. So, you know, I just helped took the help of Google, the best EB5 Regional Center in Milwaukee. So I came across a few names and you know, I decided to go over them and you know, try to call them from India and try to fix a meeting or you know, appointment and schedule appointments, something with the attorneys as well. So I came across few names, and that's how I you know, it was a random pick on speaking, but then I after, you know, taking the decision, right when I came here, then I realized, okay, this is about something that your money has to be at risk. That means if the project is not an appropriate one, or the reasonable is not the appropriate one then there is a chance that you may lose your entire $500,000 chunk and that's an absolutely not the thing that I want to do. So what I've decided then okay I have to learn first of all the entire thing then it took me like one and a half years of entire research, what should be the criteria of choosing the right regional center what should be the criteria of choosing the right project? Sometimes regional centers are fantastic, but that is not all you have to look into the project individually as well because the project's feasibility as well as viability is very important. So over the period of time I had my I was making more and more research and I was just looking into it more in a deeper way. So I realized Okay, this is how I need to you know, go and follow the process. And finally, I just you know, took the decision back in 2015 and start doing this source of fund document by myself. Of course attorney was one of the greatest hub but again, as if you are an Indian background and the source of fun over there, it's going to be create difficulty because Indian having a normal White plus black both on ami over there. Right? So you need to take care of each and every aspect according to the USCIS. So yeah, so over the period of time it took me like after subscribing the document with the regional center, it took me like three or four months by managing all documents. And successfully I just, you know, applied in 2016 June. So yeah, it took me like 19 months for get my I-526 approval, though I've gotten a small RFP, of course, but that was taken care of by the attorney. And it took me like six or seven more months when my consular process and that was straightforward process because thank God, I had no any wrong background or any overstay history or any bad industry in the United States. So it took me you know, seven months for the approval and once I got the approval and my visa, I entered in this beautiful country with a lot of dreams in my mind.
Unknown Speaker :So, you know, what kind of advice would you have for someone who's just kind of starting the process and looking at To start planning,
Unknown Speaker :the most important thing, as I said earlier, first of all the careful selection of the regional center. Now the careful selection of regional center means if a regional center is new, that doesn't mean it's a bad region center, of course not. But again, you need to see the track record of the regional center, how many projects they have done so far, and how many are successful, they have, you know, finish the project, and how many of them are repaid in appropriate time. So that is one of the you know, key factor in order to select the regional center. Now, once you have decided that, that I'm going to go with this regional center, then the very important thing is the careful selection of the project. As I mentioned earlier, the good regional center may have the you know, project which is not an appropriate one. So the most important thing that you need to do due diligence by yourself. Of course, people are you know, hiring some professionals to do the due diligence, but if I were the investor and there was an investor, so I would suggest the first very important due diligence will be done and should be done by you only. Right? And there is a specific theory that I have got my own theory and this is exactly what I've been explaining to my investors that no matter if you're talking to me and if I'm going to recommend your project no again you don't have to believe me you don't have to listen to me at all you have got the project with you you need to care go for the careful analysis on that and I used to explain a four P theory usually the seven P theory in the marketing department, but you know, I have you know, explored the four P theory the first P is going to be the product - product means what actually is the project is all about is it a condominium or in real estate project or what sort of you know, in a, you know, the product of this particular project second P is going to be people. Now, people again, Regional Center is one of the key factor but again, regional center is not the one who is going to develop the project. It's developer who is going to develop the project. So you need to find out more about you know, in detail, the history and background The developers and what they have done so far in Eb five and non Eb five industry and construction are as well as infrastructure and industry. Third P is going to be the place. Now the place is a very important thing. Because whatever the project you are putting into your money, you need to understand whether the project is how the project is going to be, you know, creating the, you know, creating the revenue, revenue, that's more important thing, because on the basis of the revenue, in future, you're going to get back to 500,000 or $900,000 back, and that's what at the time of the calculation was going on. So place is pretty important. And and let me give you a small example of that if the, if any particular reading center and developer is, you know, building a condominium apartment, so if it is in the middle of the, you know, desert, it's not going to work because it's going to buy the apartment. So location is going to be the very important key factor because the project needs to be viable and feasible, in order to you know, create the revenue in future right. So you're If your money is going to be deployed in the development of the project, but ultimately that project needs to be sold out or there have got a you know, nice different exit strategy in order to you know, you will be able to find out and the fourth is the promotion. Now, the promotion is just a key factor but use if you get the right combination of right people at right place with the right product, definitely a promotion to promote is going to be promoted in an appropriate way. So, these four p analysis that I used to explain to my clients, no matter what product, I am selling to them, or normal program, trying to, you know, convince them, but if you have got four different products in your table, do your due diligence by yourself and then you will be able to know what product, what project and what regional center is good or bad for you.
Unknown Speaker :Right, you know, those are really good valid points and ways to kind of research and look into a project a little further. And then, you know, once you kind of had gone through the process and done the research, you know, what was the personal journey for you With your family.
Unknown Speaker :Well, of course, it was not a small decision at all right? specially you know, the kids and wife because I've got young kids, my daughter is 13. And my son is nine. So at the time when I came here back like two years ago, so it was tough decision, of course, and the culture difference between India and United States. That's huge, right? In India, we used to have a combined family over here you all all the way by yourself, and you know, you're raising the kids by yourself over there, we got to have your grandfather or grandmother, everyone is going to be there. So that's going to be the huge difference. Yeah, the journey was fantastic. So far, the reason I'm telling you, it's fantastic. Ultimately, the you know, main goal of any Eb five investor is three points that I always tell my investor to take care of that number one, to get your conditional green card that will be depending upon your source of fund. Number two, you should get your investment back. And that is depending upon, again, the successful completion and the revenue generation of the project. And number three, your conditional Green Card should get converted into the permanent green card. Again, that depends during the job creation, right during the construction of the project, that whatever the job is created to we need to have the 10 jobs for investor right that is very important other than these three factors, I believe, and I, you know, recommend strongly. You are not looking at the returns, you should not looking at the returns because you're not here for the return on
Unknown Speaker :the investment is is the permanent residency
Unknown Speaker :Exactly. So you are supposed to concentrate only on your green card and the safety of your capital. If, trust me if you're going to look for the returns, there are multiple other ways to get your returns back but that that is that thing is not going to get you your green card. And always the basic finance rule, high risk high returns you're not looking for you're just looking of course the money has to be at risk, but that risk has to be calculated risk. Right so this is the most important factor right? So my journey so far. The reason I'm telling you it's a fantastic journey because not only successfully I got my green card from my for myself and my family But you know, over the period of time, everything went well. Job has been created, I successfully applied for my I-829 I fulfill the entire condition of USCIS and I was eligible to have my money back and I successfully got it back without any any problem. So that's what the you know, most important factor is
Unknown Speaker :I think that's what we wanted to share today on today's podcast is, you know, the fact that you personally have gone through this experience in this journey and you have the advice and the wisdom of you know, what the right steps are, you know, how this process kind of can be laid out. Some of the ups and downs, ins and outs and so, you know, we really appreciate you taking the time to talk with us.
Unknown Speaker :This is a passion for me, this is not never a job for me, this is something a passion. The reason I'm telling you the passion is when you have done something by yourself, right? And when you're sharing your views, your expertise and your knowledge and your experience to someone who can you know, who is about to pursue the dream of United States or the EB five journey that is nothing more than job satisfaction better than that. Right? So, as far as my traveling plan is concerned, yes, anytime soon, right in future and I'm just looking forward to do so. The most important things because as now we have seen some dramatic changes in the industry, because the amount has gone up from 500,000 to $900,000. Honestly, speaking, that's not a hurting part. For me, the hardest part is the COVID situation, right? Yeah, not only traveling, it's about the basic things, you know, the each and I invested, everyone is struggling because of the you know, COVID situation, even the HSI clients, it will be very difficult for them, you know, to manage the funds in the near future, but I'm quite hopeful, and I'm pretty, honestly pretty, pretty hopeful about that, that the things will be back on track Pretty soon, right? And we're going to see the, you know, flourishing EB5 industry once again in future and you know, I am very excited, you know, for this wonderful opportunity given by Fpp. So, you know, I'm just willing to go back to the front And do the best thing that I used. I can do it for the FPP.
Unknown Speaker :Great. Well, how can someone get in touch with you if they're looking to to reach out?
Unknown Speaker :Absolutely. FPP is now the best platform, right? And I've got my old contact details through FPP, right? I'm absolutely available on my cell phone, email, WhatsApp, right. And now mode of communication is absolutely getting better and better. So every time if someone is, you don't want me at the zoom meeting, I can schedule that. And you know, we can go for the live video calling at WhatsApp, we can communicate via email, phone. So, you know, thousands of communication modes now available right now. So I'm all available, then. Trust me, I'm available 24 by seven for my clients.
Unknown Speaker :Well, perfect. Well, awesome. Thank you so much for your time today. And thank you everyone for tuning in. If you would like to know more about first pathway partners, and how to get in touch with Asif Chhipa, you can contact them directly online at www.firstpathway.com.
Unknown Speaker :And thank you very much And thank you once again for having me over here and I'm happy to you know share all my EB5 journey experience with all my potential clients. So let me know
Unknown Speaker :if you would like to know more about first pathway partners and how they can help you with a direct EB5 investment or if you're looking for other visa opportunities such as an E2 visa, please contact them directly online at www.firstpathway.com. If you would like to be featured on an upcoming podcast, please contact us by calling for 144310742. Please note this podcast is not intended to replace direct legal consultation, nor should it but it should provide you with some insight from our community of immigration experts. I hope you've enjoyed today's show. Transcribed by https://otter.ai