Benefits of EB-5 programme
Pankaj Joshi talks about how students can get Green Cards before graduation
Most Indian students, like any other non-US citizens considering UG collegiate programmes in the United States, are confronted both by the challenge of gaining admission to the college of their choice as well as the daunting task of securing immigration rights for attending as well as pursuing their PG. In the quest for a diverse student population, most American universities encourage international admissions. The United States Citizenship and Immigration Service (USCIS) is fairly cooperative in granting temporary student visas (F-1) that accommodate those interested to study in the US, but student’s rights are quite limited.
First visitation of college campuses in advance of application is extremely precarious as one can never be sure of obtaining tourist visas to come to the US for this purpose. Second, the student visa requires evidence of financial support, but once obtained the student visa precludes the foreign student from working off campus to defray college expenses. Finally, upon graduation most students are required to return to their country of origin losing out on the opportunity for PG education in the US as well as employment opportunities in ‘the land of opportunity’. Unfortunately, for most without some permanent resident status the American experience ends on graduation day.
But there’s a solution to all this. The US congress has passed a legislation allowing a limited number of foreigners the opportunity to gain green cards for themselves and their families by investing in US enterprises creating American jobs. The programme is known as EB-5 which stands for Employment Based 5th Preference.
By investing US$500,000 in a US enterprise, applicants obtain green cards for their entire family including unmarried children under 21 entitling permanent resident status in less than 12 months from application. Typically the investment is returned to the investor within five years. But the green cards are gained as soon as the money is invested.
The EB-5 programme has a network of the foremost US-based immigration professionals in helping the investor and family get their green cards processed in the most efficient manner possible. Investors from across India have availed themselves of the Nysa program. Most investors pursue the programme for the sole purpose of advancing their pre-college age children’s opportunities for study and work in the US.
The benefits are vast. Students with green cards can come to the US whenever they like while residing in their home country for college visits or any purpose. While in school, students can work off campus, accept internships, travel freely internationally, apply for all PG programmes, and are much more valuable to American employers favouring foreigners eligible to stay in the US during their employment. Green cards also make it possible for you to get American citizenship
The writer is managing director of Gurgaon based NYSA.