For international students studying in the US, the EB-5 Visa program provides a life-changing opportunity to obtain a Green Card. It gives them an edge over other international students and a future full of stability and security.
The EB-5 Visa, also referred to as the “Immigrant Investor Program,” offers a Green Card to the investors and their family members (Self, Spouse, and Children up to 21 years of age) in return for an investment of USD 800,000 in a qualifying project in the US. The recent changes in the program have made it even more attractive for International Students already in the US by enabling them to enjoy the benefits of a Green Card almost immediately.
1. Benefits while pursuing education:
Savings in Tuition Fees
Students with Green Card could be eligible for domestic tuition rates (subject to conditions) at American universities, which are significantly lower than those charged to international students. This could result in significant savings in education costs.
Increased chances of acceptance at top Universities
Green Card holders are considered domestic applicants in the competitive world of university admissions. This is especially helpful because many universities have caps on the number of overseas students they can accept. Gaining admission to esteemed universities is more likely when regarded on par with students from the United States.
Better internship and campus placement opportunities
A green card gives you access to prestigious internships and college positions frequently only available to citizens or permanent residents. This access is essential for developing a professional network and getting practical work experience while still in school.
2. Enhanced Career opportunities after graduation:
Increased Employment prospects
With a Green Card, you are treated on par with American Residents and Citizens, and you don’t need any sponsorship from an employer to get into the job market. This removes all the uncertainties associated with getting a sponsor to ensure that you continue living in the US and opens doors to a wide range of job opportunities.
Career Mobility
The EB-5 Visa also allows you to pursue job opportunities within your organisation or move to any new employer, which is restricted for H1B visa holders. This freedom to seek career advancement opportunities leads not only to financial gains but also to personal fulfilment.
Entrepreneurial Freedom
The EB-5 Visa also allows you to start your business ventures or engage in various professional practices without the limitations imposed on non-Green Card holders, enabling you to turn your entrepreneurial dreams into reality.
3. Security and Stability:
Stable Future in the US
A strong sense of stability and belonging is provided by the move from an F1 or H1 Visa to permanent residency and citizenship, which emphasises a commitment to a long-term future in the United States.
Removing Visa Anxieties
The worries and uncertainties surrounding work or student permits are removed with permanent residency, enabling more concentrated personal and professional development.
Clarity in Career and Family Planning:
The security provided by a Green Card makes it easier to plan for and achieve long-term professional objectives and family goals without having to worry about visa status.
4. Greater Travel Flexibility:
Travel freely into and out of the US
With a Green Card, one can travel freely in and out of the United States without worrying about stamping for visas, which is especially advantageous for individuals with connections abroad.
Access to U.S. Passport and Citizenship
The Green Card is your pathway to US Citizenship, leading to a powerful passport that allows you to travel visa-free to over 170 countries. This further enhances your freedom to travel around the world.
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5. Additional Green Card Advantages:
Receiving U.S. Social Security Benefits
A safety net for the future and an improvement in general quality of life are provided by being eligible for social security, healthcare, and other government benefits.
Administrative Procedures Simplified
Compared to other visas, a Green Card has fewer paperwork requirements and less compliance work, streamlining bureaucratic procedures, reducing stress, and saving time.
In summary, the EB-5 Visa and Green Card provide an extensive range of advantages that go well beyond the classroom, addressing all facets of an international student’s life in the United States, including profession and education, as well as long-term stability, family planning, and travel convenience.
(Author Paresh Karia is a Chartered Accountant who specialises in immigration. Views expressed here are personal.)