Indian immigrants are amongst the largest and most successful immigrant groups in the US. As of 2021, there are nearly 2.7 million Indian Immigrants in the US constitute nearly 6% of the US foreign-born population and make up the second largest immigrant group after Mexicans, ahead of the Chinese and Filipinos.
Earlier, the most popular way for Indians to migrate to the US was to go there as students (on an F1 Visa), complete their education, take up employment (on an H1B Visa), and then get a Green Card (through EB2 or EB3 Visa) within a foreseeable time.
However, during the past few years, we have seen a sharp increase in the number of Indians going to the US. Coupled with the US governmentโs restrictive visa policies, especially the H1B lottery system, getting Permanent Residency in the US has become almost impossible through the above route.
In this scenario, the EB5 Visa has emerged as one of the fastest and most predictable ways for Indians to get the coveted Green card.
The following blog showcases the process of applying for a US EB-5 Visa for Indians, including the required list of documents, costs, and processing time.
What is an EB-5 Visa?
The EB-5 Visa program was launched in 1990. The Program stimulates foreign investments in the US economy. Foreign citizens can obtain a US residence permit by investing in American commercial enterprises.
To gain an EB-5 visa, an applicant must invest in a qualified project and create at least 10 jobs for Americans. The program is trending as itโs a quick path to seeking a Green Card (permanent residence in the United States).
10 Benefits of EB-5 Visa for Indians
1. Quickest and Easiest way to get a Green card
The EB-5 program is one of the quickest and easiest routes to getting a green card and moving to the US compared to the hitherto popular routes of the education and employment route visa, the H1B Visa discussed earlier. Further, the new benefits of Concurrent Filing for Adjustment of Status, introduced recently, make the EB5 Visa even more attractive to Indians already in the US on F1 and H1 B visas. Similarly, the newly introduced set-aside visas, especially for Rural Projects, provide foreign investors a fast-track route to move to the US permanently.
2. Higher certainty of getting the green card
If you document your source of funds well and invest in USCIS-approved projects, especially those sponsored by well-established Regional Centers that can create the requisite jobs, then you are almost certain of getting the Green Card through the EB5 Visa.
3. No Age, Qualification, Work/Business experience required
The Investor does not require work/business experience to apply for the EB-5 Visa. There are also no age restrictions and language criteria to be met. All you need is $800,000 for investment to demonstrate that they have been legitimately acquired.
4. Opportunity to include family members in the application
An investor can include unmarried children under 21 and spouses in one EB-5 Visa application.
5. No Sponsorship is required
The program, unlike others, doesnโt need an employer or a family member to sponsor you to obtain U.S. residency. You take complete control and responsibility for your future right from the start as you use your own finances to sponsor your journey into the U.S.
6. No Lottery system
The EB-5 visa program does not have a lottery system, unlike H1-B visa. You just have to invest a minimum of $800,000 into qualifying projects, and you can get a green card against that investment.
7. Freedom to live and work anywhere in the US and switch jobs.
After applying for the EB-5 Visa program, you can live and work anywhere in the US. For example, you can invest in Texas and live and work in New York. One can switch jobs and move to a different part of the country or wherever they find the best opportunity to work. You do not need a sponsor or depend on one particular employer.
8. Access to Education
The EB5 Visa offers several Benefits to Indian children pursuing education in the US. They can get easy admission to top US universities of their choice and concessions in tuition fees since they are considered local students, not international students.
9. Freedom of travel
You can freely travel in and out of the US as and when you wish without any restrictions.
10. Entrepreneurship.
You can start your own business in the US and get access to the favorable business ecosystem the US has to offer
EB-5 Visa India Requirements
Investment in qualifying projects
The EB-5 visa requires a minimum investment of $800,000 for projects in targeted employment areas (TEAs), i.e. areas with higher unemployment rate and $1,050,000 in other areas.
Demonstrating and Documenting Source of Funds
It is crucial to show the source of funds, which means where you got the money for investment. This includes everything from savings to business income to investments in stock markets, Investments in property, and even gifts.
Job Creation
One of the core requirements of the EB-5 Investment Visa is job creation for Americans. The investment must result in a minimum of ten full-time jobs.
EB-5 Visa Processing Time
There are multiple steps to get a green card through the EB5 Visa each taking variable time depending upon your source of funds documentation, Project selected for investment, country of birth of the applicant etc. To know the EB5 process and timeline in detail kindly with our webpage EB5 process and Timeline.
How to Apply for an EB-5 Visa?
To successfully complete your EB5 journey, you need an experienced attorney to file your EB5 petition, an established regional centre to make the qualifying investment and create requisite jobs, and a trusted financial advisor who will hand you through the above process.
As seen above, the EB5 Visa for Indians is one of the fastest and most predictable ways of obtaining US permanent Residency, offering several benefits to you and your family to enjoy a secure and prosperous future in the US. While the requirements are minimal (investible funds of US$800,000), the process is a bit lengthy, with several steps involving legal and financial decision-making and compliance. Hence, selecting the right team of experts โ attorneys, regional centre, and financial advisor- is important to ensure that your EB5 journey is smooth and you reach your destination safely.
We at Acquest Advisors specialise in the EB5 Visa program for Indians based in India and overseas. Our CEO, Paresh Karia, is a well-known media personality and thought leader in the areas of investment and immigration. His background as a chartered accountant and an ex-banker, along with his network of professionals, makes him adept at guiding sources of funds planning and documentation, project selection, and overseas funds remittance. Schedule a call with him and take that first decisive step to secure your familyโs Future in the US.