Originally, the EB5 program was created in 1990 by U.S. Congress. Its purpose is to encourage economic growth in the USA through foreign investments and job creation. As a result, the investors and their families will be granted a conditional Green Card to live in the United States with ease.
Therefore, the EB5 visa is considered a faster route for Indian investors to the US residency as compared to the rest of the employment-based visa categories.
Thus, the article below provides a detailed overview of the EB5 visa for Indians, the investment options, requirements, and the key considerations for a successful application submission.
What is an EB5 Visa?
As an employment-based fifth preference category, an EB5 visa grants lawful permanent residency for foreign investors who fulfill the following conditions.
- Invest a minimum amount of 800,000 US dollars in TAE (Targeted Employment Area) or 1,050,000 US dollars in a non-TEA business.
- Create or maintain at least 10 full-time jobs for qualified US workers.
Successful applicants can bring their spouses and unmarried children under 21 to the U.S and receive conditional Green Cards. Upon two years of stay in the U.S., this can be converted to permanent residency.
Important: According to the EB5 program’s requirements, the capital amount invested in the business will be returned to the investor after 2 years. Besides, you can also sell your EB5 business once it is completed or refinanced by a project developer. Both ways will help you get your money back that was invested.
EB5 Visa Investment Options for Indian Travelers
The following are the two primary routes through which you can invest your money in any business under the EB5 visa program.
Direct investment (1.05 million US dollars)
According to this method:
- The investor can either set up a NCE (New Commercial Enterprise) or invest in an existing U.S. business.
- The business should be liable enough to create at least ten full-time jobs within two years.
- Moreover, because it is a direct investment, make sure that the investment must be in a non-TEA (Targeted Employment Area). It has a requirement of a minimum of 1.05 million US dollars.
Regional Center investment (800,000 US dollars)
On the other hand, the investor can also opt for this route.
- Instead of creating or investing in an existing business, the investor can contribute their funds to a USCIS-approved Regional Center. This method pools multiple EB5 investments into larger projects.
- Furthermore, the minimum investment amount required here is 800,000 US dollars if the project is located within the TEA, i.e., a rural region or area with high unemployment.
- In addition, the job creation under this United States Citizenship and Immigration Services-approved regional center can be direct, indirect, or induced. As a result, this makes it a more flexible option than direct investment.
Therefore, most of the Indian investors opt for the Regional Center route because of the lower investment limit and passive investment nature.
What Are the Requirements for an EB5 Visa for Indian Applicants?
Moreover, the Indian investors must meet the following criteria to qualify for the EB5 visa.
- As an investor, you must have a minimum amount of 800,000 US dollars in a TEA or 1,050,000 US dollars in a non-TEA region.
- Furthermore, you need to prove that the funds you invested in the business were obtained from legal sources, e.g., business income, gifts, loans, salary, inheritance, etc.
- Furthermore, you also need to present documents such as bank statements, property sale deeds, tax returns, business ownership records, etc.
- Another requirement is to create and establish 10 direct jobs within two years. In case of a regional center investment, the jobs can be direct, indirect (construction suppliers), or induced (high consumer spending).
- In addition, in case of direct investment, the investor should be there and involved in day-to-day operations, management, and policy formulation. However, this is not the case with the regional center investment, as the role of the investor is passive because the center manages the operations of the business.
Other documents needed
- Your valid passport and copies of your family’s passports if they are traveling with you.
- Marriage certificate, divorce certificate, and birth certificate of the children
- Criminal record for the past 15 years
- Copy of previous immigration applications
- If you are using your own business as a source to fund the EB5, then the following evidence is required.
- Proof of business ownership
- Copy of business licenses
- Business tax returns
- A detailed business plan if you are making a direct investment
- Evidence that you have invested in a regional center
Note: Please note that this is not the absolute list of the documents, and you may need to submit certain other papers depending on your circumstances. Therefore, it is advisable to seek help from a professional lawyer to ensure that you have fulfilled the visa requirements.
EB5 Visa Process for Indians: A Step-by-Step Guide
The application process for an EB5 visa is daunting because it involves multiple stages. However, the following guide will make the step-by-step guide easier for you.
Step 1: Choose an investment project
The first step is to choose a suitable investment project. For this purpose, you need to research regional centers or direct business opportunities. Moreover, make sure that the chosen project is following the USCIS regulations.
Step 2: Prepare your documents
After that, you can hire a professional who can help you prepare the documents for an EB5 visa for Indians. Furthermore, ensure that all the mandatory documents are collected and submitted to the appropriate authorities.
Step 3: Transfer your funds
The next step is to transfer your funds to a U.S. escrow account (this will be returned to you in case of denial). At this stage, you need to provide evidence of your lawful source of funds.
Step 4: File Form I-526E
Submit the Form I-526E to file an immigrant petition by the investor. For this purpose, provide proof of investment, business plan, and job creation method. However, note that the processing time for Form I-526E is 24-48 months as of 2024.
Step 5: Apply for conditional permanent residency
If the Form I-526E is approved, you can file the Form DS-260 (Consular Processing) or Form I-486 (Adjustment of Status if you are already in the U.S.).
After that, you need to attend a visa interview at the U.S. Embassy or Consulate in India.
The following address will be of help to you.
Location: Shantipath, Chanakyapuri, New Delhi – 110021
Phone: 011-91-11-2419-8000
Fax: 011-91-11-2419-0017
Step 6: Receive a conditional Green Card
Once done, you can travel to the U.S. and receive your conditional Green Card valid for two years. Besides, you and your family can live, study, and work in the U.S.
Step 7: File Form I-829
Moreover, make sure that you file Form I-829 at least 90 days before your conditional Green Card expires. In addition, you also need to show that the investment was maintained and jobs were established. Once approved, you can receive a permanent Green Card with a 10-year validity.
Step 8: Get your US Citizenship
Lastly, after living in the U.S. for five years of permanent residency, you will be eligible to apply for U.S. citizenship.
Do you know? On average, the approval rate for an EB5 visa is almost 72% in 2023, according to the United States Citizenship and Immigration Services (USCIS). This is comparatively high from the second quarter of 2023. Moreover, 89% of Form I-829 are approved. Remember that this form is used to remove conditions on your green card.
Advantages of Having an EB5 Visa for Indian Citizens
Ending the blog without discussing the advantages of having an EB5 visa for Indian citizens will be improper. Therefore, the Indian investors can enjoy the following benefits if they opt to apply for an EB5 visa for Indians.
- Unlike H-1 or EB2/EB3 visa programs, an EB5 visa is self-sponsored. This means that you do not have to rely on or request your US employer to sponsor your application (sponsorship letter).
- Moreover, this visa type only focuses on the investment part, as it has nothing to do with the education or work experience requirement.
- In addition, not only you but your family, including your spouse and unmarried children under 21, can also live, study, and work in the U.S. and get a residency.
- Investors and their families will receive a Green Card valid for two years. As a result, you can travel visa-free to various countries, protected by the US laws, and establish a business in the US.
- If you are already in the U.S., you can simultaneously file with I-526E and I-485 for quick and fast work authorization. This concurrent filing allows you to lawfully live and work in the target country till your application is pending.
- Furthermore, if you choose the route of Regional Center Investment, there is no need for you to manage the business as it has various flexibility options.
- Once your I-526E application has been approved, you can apply for an immigrant visa to the U.S.
- After two years, the 2 year condition on your Green Card will be removed, and you can apply for US citizenship. Moreover, you can also apply for an OCI (Overseas Citizen of India) to enjoy dual status.
Challenges and Risks that Indians Can Face for an EB5 Visa
The following challenges and potential drawbacks can make Indian investors a bit reluctant to apply for an EB5 visa program.
- The long processing time, such as the I-526E approvals, can take almost 2-4 years or even more.
- Due to high demand and volume of applications, Indian applicants may face lengthy waiting periods.
- Hasty project selection may lead to investment risks. For instance, the projects may fail, leading to a loss of investment money and a Green Card denial.
- Moreover, the majority of the Indians find the requirement of a ‘lawful source of funds’ a bit harsh. Besides, improper document submission and lack of evidence can lead to application failure.
- Lastly, opting for a wrong or inappropriate project can take you nowhere. This is because project selection is becoming more important than ever. This is why China and India have become the largest EB5 markets in the world.
What is the Application Cost for an EB5 Visa for Indian Applicants?
The following is the standard fee structure for an EB5 visa for Indian applicants, considering the individual steps of the whole process.
| Fee type | Amount in US dollars |
| I-526E Filing Fee | 3,675 $ |
| DS-260 Visa Application Fee | 345 $ |
| USCIS Immigrant Fee | 220 $ |
| I-829 Filing Fee | 3,750 $ |
| Direct (non-regional center) applicants | Corporate legal fees- varies by case |
| Business plan expenses- around 5,000 $ | |
| Regional Center Administrative Fee | 50,000 – 70,000 $ |
Other than that, you may also be subjected to the following additional costs.
- Legal fees,
- Due diligence,
- Travel expenses,
- Independent Financial Advisor,
- Translation fees
EB5 Visa for Indian FAQs
- Can I get my investment money back for an EB5 visa?
Yes, you can get your investment money back for an EB5 visa, but only after the requirement of ‘job creation’ is met, which usually takes 5-7 years. Besides, investments from the Regional Center are usually considered and structured as loans with repayment terms.
- What can I do if my EB5 visa application is denied?
If your EB5 visa application is denied, you will get a refund as an investor (if you have used an escrow agreement). However, please note that the USCIS fees are non-refundable in case of visa rejection.
- Is it possible to work with any employer with an EB5 Green Card?
Yes, EB5 visa holders have no employment restrictions. This means that they can work with any employer, unlike an H-1B visa.
- Is financing allowed for an EB5 investment?
Yes, financing is allowed for an EB5 investment. But, make sure that the loan is secured by the investor’s own assets and not through the EB5 project.
- How long does it take to get a U.S. passport through an EB5 visa?
While living in the U.S under an EB5 visa, you can apply for citizenship after five years of permanent residency.
- Is there any restriction on where I can live in the U.S with an EB5 visa?
No. The holders of EB5 Green Cards can live in any state of the U.S as they have no such restrictions.
- Is it possible to include my children in the EB5 visa application?
Yes, you can include your unmarried children (below the age of 21) in the EB5 visa application as they are eligible for the dependent Green Cards.
- Who can apply for an EB5 (Employment-Based 5) visa?
Anyone who is above 18 years of age can apply for an EB5 visa. Moreover, the individual should not have any criminal record, must have sufficient funds to invest, and provide a lawful source of their income to prove their eligibility.
- How many EB5 visas are issued to Indians annually?
Currently, the annual limit of EB5 visas is 10,000, with each country having a maximum limit of 700 visas. So, almost 700 Indians can apply and are granted EB5 visas each year.
- What is the standard processing time for an EB5 visa?
Usually, the processing time for an EB5 visa is almost 8 months to 6 years. This includes the preparation of the documents for the application to the allocation of the conditional green card. If you want to avoid unnecessary lengthy processing time, make sure to carefully select a project and document your case.
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