Most Indian students, like any other non-U.S. citizens considering undergraduate collegiate programs 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 post-graduate plans.
To make a hassle-free process, the U.S. Congress has passed legislation allowing a limited number of foreigners the chance to gain green cards for themselves and their families by investing in U.S. enterprises creating American jobs. The program is known as EB-5 which stands for Employment-Based 5th Preference. It became popular with American business just a few years ago during the credit crunch. By investing US $500,000 in a U.S. 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 5 years. But the green cards are gained as soon as the money is invested.
The EB-5 program has a set-up of the foremost U.S. based immigration professionals in helping the investor and family get their green cards processed in the most efficient manner possible.
Most investors pursue the program for the sole purpose of advancing their pre- college age children’s opportunities for study and work in the U.S. As children of investors must be under the age of 21 at application, planning for this program needs to start early.
There are plenty of benefits. Students with green cards can come to the U.S. 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 postgraduate programs, and are much more valuable to American employers favoring foreigners eligible to stay in the U.S. during their employment.
– Pankaj Joshi is the Managing Director of Gurgaon based NYSA Global.