By Peter Calabrese
Since every investor’s circumstances are unique, there are many reasons why foreign investors choose to participate in the EB-5 programme. However, all of them share the same overarching objective: getting a U.S. green card, which gives holders the right to permanent citizenship in the country. Investors apply for an EB-5 visa not only for themselves but also for their spouses and unmarried children under the age of 21 after successfully meeting the requirements of the program, which include the creation of new full-time jobs for citizens or residents of the United States.
The advantages their children can receive when applying to U.S. institutions and graduate schools are among the most enticing benefits of the EB-5 visa program for investors with children. U.S. post-secondary educational institutions rank amongst the most prestigious in the world, with American universities frequently dominating lists of the best universities worldwide. International students swarm to the United States to pursue the best degrees available, with the number of foreign students in the country reaching an all-time high.
Comparing themselves to their peers in their country of origin, EB-5 investor children have a huge advantage when applying to U.S. institutions and graduate programs. To apply, green card holders must be accompanied by U.S. citizens, not foreign students. The children of EB-5 investors with green cards are given a huge edge in terms of college admissions because the acceptance rates between overseas students and domestic students are occasionally astonishing.
American citizens with green cards are more likely to enroll at a U.S. university than non-Americans. Children of EB-5 investors with green cards have a higher chance of being accepted into foreign universities, compared to international applicants face, even though the acceptance rates for domestic students at top universities are also low because these schools accept only the top applicants.
When applying to U.S. colleges and graduate schools, EB-5 green card holders can gain advantages other than higher acceptance rates. Green card holders applying to schools in their state of residence are considered in-state applicants, though rates vary from institution to institution and are frequently discounted for in-state students. The EB5 Visa provides the greatest benefits for individuals who want to pursue higher education at prominent universities and colleges in the United States. Students with green cards are more eligible for financial aid during the academic year and do not require employer sponsorship. Additionally, even while enrolled in school, students are permitted to work off-campus, undertake internships, apply for postgraduate training programs, and work anywhere in the nation.
International students must also contend with several constraints, particularly concerning employment, on top of the intense, ever-rising rivalry and exorbitant tuition costs. International students can only work on campus, with a few exceptions allowing them to work off-campus. Conversely, individuals with green cards enjoy all the same rights as residents of the United States, allowing them to work full- or part-time employment off school, apply for internships, and pursue postgraduate degrees. Therefore, whereas children of EB-5 investors who hold green cards often have reduced tuition prices and may work freely to help support their school, overseas students often have to pay higher tuition fees and have fewer chances to generate money.
Now as the US Government has given the green flag for EB-5 Concurrent Filing this depicts that investors can apply for a green card and adjustment of status at the same time. Therefore, now investors have additional alternatives when they file for EB-5 Visas and investors in the EB-5 program who switch from H-1B or E-2 status are free to seek work permission that is unrestricted by an investment business or sponsoring employer.
A U.S. degree can help students who are thinking about attending a U.S. university enhance their chances of admission as well as their chances of landing an internship or a job when they graduate. Additionally, one of the most effective and simple ways to profit from Green Card without actually receiving one is through the EB-5 concurrent filing program. Choosing the proper advisors when applying for the EB-5 program is essential to effectively get into the U.S. due to the need for accuracy in filling out the necessary paperwork and supplying the necessary documentation.
The author is CEO, CanAm investor services.
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