Obtaining US citizenship has always been a popular goal for many Indians. The EB-5 visa program provides a path for foreign investors to gain permanent residency and eventual citizenship in the US through investment. For Indian investors, the EB-5 program offers an opportunity to secure US citizenship for their families with the required investment amount and proper application procedures. This article will provide an overview of the fees and key steps Indians need to take to successfully obtain US citizenship through the EB-5 investment visa program.
Total costs for Indians range from $500,000 to $900,000
The minimum investment amount for the EB-5 program is $500,000 for projects in Targeted Employment Areas (TEAs). However, for projects in non-TEA areas, the requirement rises to $1 million. With various legal and administrative fees, the total costs for Indian investors generally fall between $500,000 to $900,000. Key fees include the EB-5 investment capital, attorney fees, application fees, and other administrative costs. Investors should budget for the higher end to account for dependents and ensure a smooth application process.
Extensive documentation is required at each stage
Indians seeking US citizenship through investment must prepare extensive documentation during each step of the EB-5 process. From the initial I-526 petition to the final removal of conditions, applicants must demonstrate the legitimate source of their investment funds through documents including tax returns, bank statements, business registration certificates, property valuations, and more. Thorough record keeping and preparation is crucial to prove eligibility and get approved without delay or complications. Applicants should expect to submit a sizable volume of financial and background documents.
Hiring an experienced attorney provides important benefits
Navigating the EB-5 process presents linguistic, cultural, and procedural challenges for Indian investors. Hiring an experienced US immigration attorney is highly recommended to guide each stage of the process, communicate with USCIS, and minimize mistakes that could jeopardize the application. Although attorneys add to the total costs, their expertise globalizes documentation review, deals with Requests For Evidence, coordinates with regional centers, and handles other key aspects of the EB-5 application on the applicant’s behalf – resulting in a smoother and faster route to approval.
The process takes at least 2 years for conditional green card
After submitting the I-526 petition and supporting documents, it takes around 16-22 months for USCIS to issue a conditional green card if approved. Indians must then reside in the US for at least 2 years to apply for removal of conditions and obtain lawful permanent residency. Removing conditions takes another 12-20 months. Only after 5 years as a permanent resident can Indians then apply for US citizenship. Therefore, the fastest total timeline from initial investment to citizenship is approximately 7-8 years through the EB-5 program.
Obtaining US citizenship through investment is a complex process for Indian applicants, with total costs ranging from $500,000 to $900,000. Extensive documentation, experienced legal help, and a lengthy application timeline are key considerations. But for those able to make the required investment and navigate each step carefully, the EB-5 program remains a viable path to eventually gain permanent residency and citizenship in the US.