For Indian high-net-worth individuals considering US residency, the calculation is shifting from simply securing an immigration pathway to understanding what happens to the capital deployed along the way.
Families assessing US residency routes are increasingly looking at the entry cost, investment structure, holding period, risk and potential capital recovery alongside the immigration pathway, according to Sandeep Wadhwa, Chairman of FAY Investment Group.
“For Indian HNIs, US residency has become a financial decision alongside a mobility decision,” Wadhwa told HT.com.
“Families evaluating US residency routes are assessing entry cost, capital deployment, holding period, investment risk, capital recovery and the immigration pathway as part of one financial strategy.”
The calculation has become particularly relevant for Indian investors considering EB-5, amid changing visa availability and the emergence of the US Gold Card program.
The money question
{{/usCountry}}The calculation has become particularly relevant for Indian investors considering EB-5, amid changing visa availability and the emergence of the US Gold Card program.
The money question
{{/usCountry}}India's HNWI population reached 378,810 in 2024, with combined wealth of $1.5 trillion, up 8.8% from the previous year, according to Capgemini's World Wealth Report 2025, as cited by Wadhwa.
Against that expanding wealth base, Wadhwa said cross-border residency planning is increasingly being considered alongside capital allocation.
“For families considering the United States, immigration planning increasingly sits alongside capital allocation,” he said.
“The structure of the investment, the underlying asset and the immigration category each influence the overall decision.”
That means the headline price of an immigration program is only one part of the calculation. For an HNI deploying a significant amount of capital, the question also becomes what that money is invested in, how it is managed and when it can potentially be recovered.
“The investment timeline therefore becomes part of the analysis alongside capital deployment, project fundamentals and exit strategy,” Wadhwa added.
EB-5 gets complicated
The EB-5 program currently requires a minimum investment of $800,000 for qualifying investments in a targeted employment area and $1.05 million for a standard investment. The investment must also result in the creation of at least 10 qualifying full-time jobs.
For Indian investors, however, the availability of different EB-5 categories has become another factor in planning.
ALSO READ: Green Card plans facing new hurdle? US moves to overhaul rules for sponsoring foreign workers
The September 2026 Visa Bulletin lists India as unavailable for EB-5 unreserved visas, while the rural, high-unemployment and infrastructure set-aside categories remain current.
Wadhwa said that makes category selection an important part of the investment decision.
“For Indian investors, category selection has become a central part of EB-5 planning,” he said.
“The category chosen can influence visa timing alongside the location, investment structure and filing strategy.”
$800,000 EB-5 vs $1 million Trump Gold Card
The emergence of the US Gold Card has added another option to the calculation.
A September 2025 executive order established a framework for a $1 million contribution to the Department of Commerce as evidence relevant to eligibility under existing employment-based immigration provisions, while directing the administration to consider expanding the program to EB-5.
The official Gold Card website lists a $15,000 DHS processing fee followed by a $1 million contribution after approval of the application process.
Wadhwa said the economic proposition is different from EB-5.
“The Gold Card involves a US $1 million contribution to the government. EB-5 involves investment capital placed into a qualifying commercial enterprise, subject to the program's immigration requirements and investment risk.”
“For an HNI, the distinction sits directly within the capital allocation framework,” he said to HT.com.
“The Gold Card represents a direct financial contribution linked to an immigration pathway.”
By contrast, Wadhwa said, EB-5 places capital into an investment structure where the underlying project, asset quality, governance and exit strategy shape the investor's experience.
The investment risk
For Wadhwa, the central question is not simply whether an investment can support an immigration application.
“The underlying asset comes first in an immigration-linked investment,” he said.
Governance is another consideration, with Wadhwa pointing to clear reporting, fund administration, transparent use of capital and defined distribution mechanisms as factors investors should examine.
“Sponsor experience and execution capability also form part of the investment assessment,” he said.
And then comes the question that can matter most to an investor: getting the capital back. While speaking to HT.com, he said, “Investors need clarity on the expected holding period, the nature of the capital repayment and the factors that drive the timing and recovery of principal.”
A new HNI playbook
The immediate EB-5 calendar adds another layer. The State Department said India's FY2026 allocation for EB-5 unreserved visas had been reached in June, with the annual allocation resetting with the start of FY2027 on October 1, 2026.
For Indian HNIs, Wadhwa's argument is that immigration planning and investment underwriting can no longer be treated as entirely separate exercises.
“For families deploying significant capital across borders, residency planning and investment underwriting increasingly sit within the same wealth strategy,” he said.
His central message is straightforward: a residency decision involving significant capital needs to be examined not only through the immigration lens, but also through the same discipline applied to any major cross-border investment.