International students at American Universities often use F-1 visas to work and study in the US. But have you heard about the EB-5 visas? According to experts, EB -5 visas can not only be a good investment for yourself, but they can also help to secure your child’s future. It is not just an immigration program but also a program to secure a job and get a green card. Read on to know more about it.
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Established in the year 1990, the EB-5 program’s purpose is to contribute to the US economy and create more jobs. The rules are much less stringent for procuring this visa. In exchange for your investment, you will be getting a two-year green card on a conditional basis. It provides you with an opportunity to get permanent residency in the country for yourself and your entire family.
The EB-5 visa group comprises international students who enter the US on an F-1 visa. The parents of such students often send the investment money as a gift. It is an entirely legal and valid source of investment. In 2018-19, around 8258 people from foreign countries invested in the EB-program. The minimum amount of investment required for the program is about $900,000.
The investment fund can come from various sources –gifts, sale of property, inheritance, loan, or income. However, it is not just limited to the categories mentioned above. You need to submit relevant, probative, and credible proof to show that it is a ‘lawful’ source of funds.
As an EB-5 investor, you need to follow the United States Citizenship and Immigration Services (USCIS). These requirements are:
You might question why one should invest a lot of money to get their child an EB-5 visa. You and your child can enjoy tons of benefits if you decide to become an investor.
An EB-5 visa will ensure that your child gets a conditional two-year green card, after which he/she can file for permanent residency. In case your child is yet to apply for any university in the US, having an EB-5 visa will increase their acceptance chances. Your child might even get to study at some of the top American Universities at a subsidized rate. As an international student, your child will be able to have access to more scholarships and financial aid programs.
With an F-1, J-1, or M-1 visa, there are several restrictions that an international student faces in their field of education. They also have to adhere to several work restrictions. Getting an EB-5 visa will solve all these issues, as your child will get to enjoy the benefits of a green card for at least two years. As international students, they can travel all over the country and not worry about updating their visas.
As an international student in the US, it can be a daunting task to find a country job. Employers often look for the ones who have unconditional authorization when it comes to working in the country. It will help your child to get an excellent job despite the competitive job market in the US.
The EB-5 program is an excellent way through which international students can become permanent residents of the US. However, it is going to get expired by 30th June 2021. This indicates that American President Joe Biden needs to renew it again.
Previously, it was renewed automatically whenever an omnibus bill that approved the country’s new budget was introduced. However, under Trump’s administration, the EB-5 was removed from automatic approvals, and it now stands alone.
However, many want this program to stay. Many of the supporters belong to the hotel industry, real estate industry, local and national chambers of commerce, mayors across 19 states in the country, and organizations contributing to economic development. One can only wait and watch what happens in June 2021. If the Grassley and Leahy Bill gets approved, it will ensure that the EB-5 program will be secured till September 2024. It will make the lives of several international students easier. It will increase their employment opportunities and allow them to bring their entire family into the US.
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