The EB-5 Immigrant Investor Program is a popular pathway for foreign nationals, including those from India, to secure U.S. permanent residency by making a significant financial investment in a U.S. business. Of course, the expenses of an EB-5 visa are not everything that you will require. Those who apply for the visa have to meet different charges and costs that are related to the procedure which can dramatically affect the overall cost of getting a Green Card via the EB-5 program.
What is the Cost of an EB-5 Visa?
The cost of an EB5 visa can be incredibly high. To be eligible for the U.S. Green Card, candidates are required to make an investment in a new commercial enterprise located in the United States. They should pay a minimum investment of $1.8 million, which is the mandatory amount required as per the latest guidelines. Nevertheless, this amount can be decreased to $900,000 if the sum is invested in a Targeted Employment Area (TEA) (which usually includes rural or high-unemployment areas).
Acquisition of an EB-5 visa by this big investment is a very basic principle. It is crucial to understand that this investment is not just a fee but a capital contribution to a business in the USA. The assumption is that the investment will provide the investor with the sought-after U.S. residency, on the one hand, and will create jobs for the U.S. workers, on the other, which is a birthing aim of the project.
Advisory charges: Legal and Administrative Licence Fees
Part of the cost of an EB5 visa include legal and administrative fees that vary depending on the complexity of the case, the service providers chosen and the project into which the investor decides to invest.
Lawyer’s fees: Obtaining a lawyer specializing in immigration issues makes a significant additional expenditure. An accredited immigration lawyer who specializes in EB-5, usually costs between $15,000-$25,000 for filing a petition. This fee accounts for the preparation of the investor’s petition (Form I-526), legal advice, and guidance through the entire process. Some lawyers might charge higher fees, for a case’s complexity or due to added services.
Administrative fees: Numerous Regional Centers—businesses that manage EB-5 investments—may dedicate administrative fees to offer their services. These expenses are generally incurred as a result of investment management, assuring there is compliance with the EB-5 regulations, and filing the necessary documentation with the U.S. Citizenship and Immigration Services (USCIS). Usually, these fees go from $40,000 to $60,000, on average, depending on the project and the policy of the Regional Center.
Due diligence and consulting fees: Being well-informed about the potential investment is very important for the investor due to the necessity of conducting due diligence analysis that will result in the removal of the business or the project from being a viable option to choose. Consulting fees, which may be for financial advisors, due diligence experts, or industry specialists, can range from $5,000 to $10,000. These costs help mitigate the risk associated with the investment and ensure that the project meets EB-5 requirements, such as job creation.
Government Filing Fees
Apart from the investment and legal fees, there are several government-related expenses that investors have to pay when applying for the EB-5 visa. These payments are made directly to USCIS, and they include:
I-829 Petition Fee: After two years, the investor has to file a petition to remove the conditions on their Green Card (Form I-829). The filing fee is $3,750 for this specific filing as the petition has to assert that the required number of jobs were actually created through the investment and the investor has fulfilled all the other conditions of the EB-5 program.
The Biometrics Fee: Besides the I-526 and I-829 petitions, there can be a biometrics fee charged, which is $85, for printing one’s fingerprints and conducting background checks. This fee applies to both the main investor and any dependents who are covered in the application.
Other Costs
There are other incidental costs that can arise during the EB-5 application process, like:
Translation Costs: Any document that is submitted to USCIS must be in English, hence, any foreign-language documents, such as personal identification records or financial statements, must be translated. The cost of translation services will vary from $100 to $500, based on the number of documents that need translation as well as their complexity.
Travel and Various Expenses: The securing of a visa may mandate investors to travel to the U.S. for interviews, on-site projects, or to monitor their investments. Travel expenses automatically fluctuate depending on the investor’s location and the number of trips taken. Although these costs do not form part of the core EB-5 framework, they still figure prominently among most applicants’ considerations.
Conclusion
An EB-5 visa’s cost is much more than just the very first investment. If an individual decides to follow the $1.8 million investment route, legal and administrative costs, as well as government filing fees, may add up to more than $2.5 million. For the investment in Targeted Employment Areas, the entire expense could be a little lower, but still significant. It is essential for potential investors to take into consideration all the associated costs when they are pondering if the EB-5 program is the right option for them.
Though the financial obligation is hefty, one can benefit a lot through the EB-5 visa which not only provides a fast track to permanent residency but also gives the opportunity to the investor and their family members to live work or learn in the United States. Investors should look carefully into all costs and potential advantages so that they can make a well-thought-out decision both from a financial and a legal perspective.
