What Is An EB-5 Visa Program?
An EB-5 visa is the most desirable visa category of the immigration program launched by USCIS. This category aims to attract foreign entrepreneurs to live in the US as permanent citizens while stimulating the American economy through their investments.
Presently there is a limit of 10,000 US visas, out of which 700 visas are available for every country. Since the application for an EB-5 Visa from India is increasing with each passing day, retrogression is expected to follow soon.
EB 5 visa allows your spouse and all unmarried children below the age of 21, to live in the USA as an American citizen at the EB 5 visa cost of a single applicant. In this blog, we will discuss how much does an EB 5 visa costs and associated information.
What Are The EB 5 Visa Requirements For Indians?
How much an EB-5 visa cost is a foremost query by an applicant. While the cost of the EB-5 visa option is attractive to wealthy people, not everyone can afford the amount. Adding to that, here are some other eligibility criteria one needs to qualify apart from EB 5 visa cost.
- The applicants need to invest US $1.8 M in a commercial enterprise (or a minimum of US $900 K in a target Investment area) as initial EB 5 visa USA cost
- Applicant can either invest through direct investments or the regional center
- The project must create 10 permanent full-time jobs within 2 years of investments and start offering returns on your investments.
- The EB-5 visa cost/investments must fulfill the “at-risk” condition
*The capital for EB 5 visa from India can include different sources apart from cash like salary accumulated over time, business ownership, gifts, inheritance, the amount received after sale/mortgage in your property, or more.
Can You Get Your EB 5 Visa Program Cost Back?
While the applicant must fulfill the “at-risk” condition, it does not necessarily mean that the capital should be in risky projects but should be invested in the project where the applicant may lose it.
Most EB 5 programs come with an exit strategy where the applicant can receive the EB-5 visa cost /principal back with interest. However, to attain a permanent green card, the investment must be in the project until the completion of conditional residency.
What Is A Regional Center?
A regional center is a designated organization by USCIS through which capital investment projects are provided for the investors. Regional centers work in the upliftment of TEA and provide a significant rebate in EB 5 visa cost required for investments.
Regional centers also create jobs and help the applicant qualify the minimum job creation criteria directly or indirectly. Regional centers are best for the investors who want support to manage the investments in the approved projects without being directly involved in the day-to-day managerial tasks.
What Is The Procedure For An EB 5 Visa, India Investments?
EB 5 Visa timeline may take anywhere between 5 to 8 years depending upon the USCIS processing time, country of origin, and the number of applications received.
EB 5 visa requirements, India are as described that you will need to follow-
- Find the project that you like and discuss it with your immigration lawyer
- Collect the minimum cost of EB 5 visa investments and submit it in the escrow account in the USA
- Fill I-526 application with the help of your lawyer while you wait for the priority dates allotment for consulate interview, medicals, and other procedures
- Apply for the adjustment status (I-485 application) and form DS-260 to avail of the 2-year conditional Green card
- Fulfill the requirements of the project in the next 2 years and apply for an unconditional Green card 90 days before the conditional Green card expiration through form I-829
- 5 years post the conditional Green card allotment; you can apply for American citizenship by the naturalization process
What Documents Are Required To Apply For EB-5 visa Program?
- Documents proving that investments produced for EB 5 visa cost are arranged through lawful means and source should be specified
- Original documents of your education, diploma, and other certificates
- Valid passport for 6 months beyond the intended entry in the US
- 2 photographs with 2 X 2 in a specified photo format of application form
- You must bring the translated documents with original documents while presenting them before the consulate. After the interview, the original documents and translated documents will be returned to you
- The medical examination report, vaccination report, birth certificate, marriage certificate, etc. should be presented as well
Benefits Of An EB-5 Visa For Indian Entrepreneurs
- EB-5 Offer best ROI– Unlike other wealthy English lingual countries offering investor’s visa, EB-5 visa for the USA costs relatively less. Also, the applicant can extract the best returns from the business after 5 years onwards.
- Choose regional centers for a rebate– When you apply through a regional center in a Government approved project, you can avail of a rebate in EB 5 visa program cost. Unlike the direct investment in the project, the cost of an EB-5 visa is $900,000 when done through a regional center.
- The complete deal for family Green Card– Once your project fulfills the condition for investments as per USCIS, you can call your immediate family in the US on the conditional Green card. After 2 years of successfully running the project, eligible members can file for unconditional green cards, making it a family deal.
- Faster processing in the US– Unlike other categories where the waiting time can be for decades, an EB-5 visa is an attractive offer to live in the USA within 2 years. This makes it a well-sought opportunity.
- Minimum interference from 3rd party– EB 5 visa from Indian category doesn’t need any dependency on 3rd party whether it is by an employer, study program, or something else. The applicant needs to invest in the visa program and uplift the American economy to qualify for the project.
- Flexibility and freedom- The applicant, living in the USA, has the flexibility to move, travel, and buy a home wherever they want. After fulfillment of all conditions, the applicant can even qualify for an in-state tuition fee in university.
Is EB-5 Visa Available For Students Studying In The USA?
The EB-5 visa is available for students studying in the USA on an F-1 visa. This is a preferred path for students who want to stay in the US post studies without any employer’s sponsorship.
They can work, earn, live, and avail all benefits as permanent US residents in due time while being entrepreneurs. How much it cost for students to get EB 5 visa remains the same as any other citizen applying for an EB 5 visa. For more details, discuss your case with your immigration lawyer.
How Much It Cost For Students To Get EB 5 Visa?
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* In addition, you need to pay admin fee, legal fee, and processing fee, university fee, tuition fee, etc
How To Save Yourself From The EB-5 Visa Fraud?
Since EB-5 visa is a popular category, USCIS officials have been warning the applicants about the frequent EB-5 visa scams periodically. Here is how to spot a scam and save yourself-
- Promising guaranteed visa and guaranteed citizenship
- Offering guaranteed returns with no investment risks
- Offering high returns on a project not enrolled as regional centers
- Fraudulent sellers with multiple levels run by them in the same organization
Do You Need A Lawyer For The Immigration Investment Petition?
The EB-5 visa has complex procedures and requires multiple applications and form filling. This may lead to a mistake in your application process, leading to a delay in visa allotment.
It is advised to hire a seasoned immigration lawyer to help you navigate the process until you become a lawful American citizen.
Apart from the dedicated EB 5 visa USA cost, you will need to have some extra money to pay for the document processing fee, procedure charges, and administrative fee. Be sure to add relocation amount and tax amounts in addition to the cost of an EB-5 visa.
How much an EB 5 visa cost includes other charges apart from the fixed EB 5 visa program cost in each case. Therefore, do not forget to discuss the charges of your immigration lawyer before you proceed further.