The United States is home to Harvard, Yale and Stanford, to name a few. Students from across the globe aspire to enrol at the world’s most prestigious universities. An education from prominent state or private schools alike, adds considerable value to a graduate’s resume, opening an array of doors and career growth both within the US and globally. However, international students face fierce competition when applying for some of the most reputed and renowned educational institutions in the US. Therefore, many foreign students planning to study in the US are now looking towards the EB-5 visa, which could unlock a vast array of benefits, including obtaining higher chances of acceptance in the world’s best programmes, reduced tuition rates, and coveted internship positions. Preeya Malik, US licensed lawyer and Managing Director of the immigration advisory firm Step Global, highlights in this interview, the main advantages of the EB-5 program, which can assist GCC families in taking the right decision for their children’s future.
The EB-5 Immigrant Investor Program
The US EB-5 program is a direct route to obtain permanent residency in the US, also known as a green card, and is also a pathway to US citizenship. In order to obtain a US green card via the EB-5 program, applicants are required to invest a refundable minimum amount of $800,000 (Dh2.9 million) in an approved EB-5 project, which will then bolster job creation for the US economy. Under this scheme, the application may include the investor, the investor’s spouse, and any children under the age of 21. If a child has already surpassed 21, they can apply as the primary applicant.
Visa issues faced by international students
Traditionally, international students apply for an F-1 student visa, which allows them entry as a full-time student at an accredited US university. Following graduation, they can apply for an OPT (Optional Practical Training), which will allow them to take a paid position with a US employer, in the same field for which they have obtained a degree. However, once the OPT expires after 1 to 3 years (depending on the area of study), a student has two options: (1) to obtain an H1-B visa for employment or; (2) exit the country.
This seems like a smooth path, especially if a graduate’s OPT employer is willing to sponsor them for employment. However, in recent years, the H-1B has come under a number of uncertainties. As an increasing number of foreigners apply to migrate to the US via H1-B visas, this category has become oversaturated, especially for those from certain nationalities, like the Indian subcontinent. Due to this, the H1-B employment visas are now allotted on the basis of a lottery draw once annually, and hence securing an H1-B visa is not guaranteed, even if someone has a willing sponsor employer. If one does not get selected in the draw in a given year, they must reapply the following year, thus delaying their career prospects in the United States.
Outside of this, due to restrictions on the F-1 student visa, international students will also face issues in securing internships and employment during the course of their education, which could greatly add to the mandatory experiential aspect of a degree in the US that future employers may expect.
Why do students and parents choose EB-5 over other immigration routes?
The EB-5 visa can address most of the concerns encountered by international students wishing to study in the US. Below are the most prominent reasons the EB-5 Program is the preferred option for many families from the UAE and across the GCC:
Lower tuition rates
US universities are a top choice for many GCC students seeking to pursue higher education, however, it is well known that the tuition fees for international students in the US can be exorbitantly high. US public universities offer varying tuition rates for in-state, out-of-state, and international students. In-state tuition is the rate students who are domiciled in a particular state will pay, while out-of-state tuition is the rate a resident of another state will pay. Finally, international rates are for those students who are not a resident of any state, and in other words, are international students. Unfortunately, international students pay on average three times more than domestic students. However, obtaining a green card through EB-5 and becoming a US permanent resident, can be a way for students to receive in-state tuition. These savings can amount to more than $35,000 per year depending on the university, which can be particularly beneficial for families with multiple children or for children who will go on to do multiple degrees in the US.
Access to financial aid and scholarships
Another appealing aspect of the EB-5 visa is the access it provides to scholarships and financial aid. Every applicant to a US university is competing with students across the globe for a limited number of scholarships available. However, with an EB-5 Green Card, students are eligible to apply to a larger number of scholarships offered only to US residents, thus increasing the probability of being selected. The various states, US government, and schools also provide grants and 0 per cent loans, which are not available to international students but are accessible for green card holders and US citizens.
No job limitation during education
International students may face difficulties in finding positions both off-campus and on-campus during their education, whether paid or unpaid. First, F-1 students are limited in the number of hours they may work during their education, are sometimes limited to employment only on campus, and can many times only apply for unpaid positions.
Green card holders and US citizens are not subject to such restrictions and can work freely thereby allowing them to enter a greater employment pool, and also avail themselves of useful work experience that could help in obtaining employment post-graduation. For example, many of the top law firms in the US will only hire students who have worked for them summer upon summer as an intern.
No sponsorship required
Perhaps, one of the biggest advantages of a green card via the EB-5 program, is that it removes all the stress of securing a work visa and employment after graduation. Many students become increasingly disappointed and frustrated when they find they are forced to leave the US after their studies have been completed and their OPT time expired because they are unable to secure an employer to sponsor them or they are not selected in the H1-B lottery. At that time, parents rush to find solutions for their children to be able to stay and work in the US.
Rather than being reactive, a proactive approach via the EB-5 program, allows children to obtain permanent residency so they do not have to worry about their status post-graduation and can focus on accelerated career growth. They can then be head to head with their American peers rather than trying to find an employer willing to take on the extra administrative burden of sponsorship and an H1-B employee. With a green card in hand, one can take the time to find the right position from a career standpoint and negotiate the best salary, a luxury that foreign workers do not have.
When is the right time to apply for EB-5?
“It is important to consider an application well before a child turns 18,” says Malik. “We advise families who are specifically applying to this program for the education and future career prospects of their children to anticipate processing times and start the process as soon as possible and as early as when a child starts high school, so that they will be ready to take full advantage of the benefits by the time they are applying for university. While EB-5 is still one of the fastest and most efficient ways to obtain a US green card, the full process can still take a few years to come to fruition. Unfortunately, many families come across this program too late, when they’re looking for an urgent solution to have their children stay in the US post-graduation. Although we do help many families in this position, being able to plan ahead is less stressful for the whole family.”
Immediate access to the US for F-1 visa or H1-B visa holders
On March 15, 2022, the US government introduced the option of Adjustment of Status (AOS) Concurrent filing for EB-5 applicants. This means that an applicant who is studying in the United States on an F-1 student visa, can submit their paperwork for Adjustment of Status (AOS) concurrently with their EB-5 green card application.
The first advantage is that those already in the US on any legal visa status can apply to adjust their status from within the US without having to return to their home country to complete visa processing.
Second and most importantly, along with the AOS submission, the applicant can request an Employment Authorization Card and Travel Document (Advance Parole). Within months, the applicant will have the ability to legally live and work in the US without employer sponsorship while they wait for their EB-5 green card application to be processed. As their status changes from the temporary visa they were previously on to pending green card, they may also take advantage of other benefits only allowable for US residents and citizens.
Although this concurrent filing does not allow an applicant to receive the green card faster, any delay in processing timelines will not affect the applicant’s ability to take advantage of living and working in the United States immediately. This option is also available for H1-B holders.
Meet the Step Global immigration lawyers on May 21 to get more information
Step Global invites anyone interested in the US EB-5 green card program to join them for an exclusive free seminar on Sunday, May 21 at 4pm at The Ritz Carlton DIFC, Dubai. Malik - an award-winning US immigration lawyer and renowned expert in the EB-5 program - will be there in person to present the program and share her insights with attendees. Working with a portfolio of only the most reputed EB-5 Regional Centers and projects, Step Global, along with its legal team, has helped thousands of applicants and their families migrate to the US under the EB-5 program with one of the highest track records of approvals in this region.
This content comes from Reach by Gulf News, which is the branded content team of GN Media.
FAQs
EB-5 visa helps international students seeking to study in the US? ›
The 2022 EB-5 Reform and Integrity Act (RIA) allows F1 students to do concurrent filing of Form I-526 and Form I-485 to transition from OPT to EB5 Visa. Concurrent filing means that an EB5 petition from OPT can be filed at the same time as an adjustment of status.
What are the benefits of EB-5 visa? ›- Lawful status in the U.S. ...
- Quicker path to permanent residence and citizenship. ...
- No visa sponsorship requirement. ...
- Monetary return on investment. ...
- Freedom to live and work anywhere in the U.S. ...
- Education and employment opportunities for children.
The 2022 EB-5 Reform and Integrity Act (RIA) allows F1 students to do concurrent filing of Form I-526 and Form I-485 to transition from OPT to EB5 Visa. Concurrent filing means that an EB5 petition from OPT can be filed at the same time as an adjustment of status.
What is EB-5 for students? ›An EB-5 visa is one that gives immigrant investors and their immediate family (children up to the age of 21) the opportunity to obtain a US green card and permanent residency through a one-time business investment.
Can someone sponsor me to study in US? ›Yes, you can! When you apply for a student visa, you are permitted to receive financial support for your studies from scholarships, fellowships, assistantships, grants, or loans from your university or college, government, or personal sources such as friends or family.
How much money do you get for EB-5? ›How much does an EB 5 visa cost? You need to file Form I-526 in order to apply for an EB5 Visa. The United States Citizenship and Immigration Services charges you a fee of $3,675 to file this form.
Is EB-5 visa worth it? ›The EB-5 visa is an excellent choice for foreign investors willing to put down the necessary amount of capital required by the United States Citizenship and Immigration Services (USCIS) as part of the category's strict requirements.
Is it hard to get an EB-5 visa? ›Even with several supporting documents, it can be difficult to have your EB-5 visa application approved by the United States Citizenship and Immigration Services (USCIS). Before you can immigrate and get a green card through investment, you must meet extremely narrow requirements. Qualifying could be quite a challenge.
Does EB-5 guarantee a green card? ›To receive this visa, you must invest at least $800,000 in a US enterprise and create at least 10 American jobs. If you are eligible for the EB-5 Visa, you receive a Green Card and you are allowed to live in the US. You can include your dependent family members in the application.
What is the minimum age for EB-5? ›The laws and regulations of the EB-5 Program do not stipulate any age requirement or limit. Age is only a factor as it relates to signing contracts; if an applicant is younger than 18, he/she cannot sign a legally enforceable contract.
What is the maximum age for EB-5? ›
What age is eligible to apply for EB5 Visa? There is no age limit to applying for the EB-5 Visa Program.
How long does EB-5 last? ›Upon successful completion of the EB5 visa interview, you should be granted an EB5 visa within about a week. This process takes about 6 to 8 months. Once your adjustment of status is approved or you enter the country on a valid EB5 visa, you are officially a conditional permanent resident for 2 years.
How long does EB-5 take? ›EB-5 visa processing time for I-526 Immigrant petition ranges between 29.5 and 61 months, as of April 2023, USCIS processing estimates. For investors present in the USA, I-485 Processing time of USA investment Green card application to Adjust Status is 7 to 29 months depending on the service center.
Who can sponsor international students to study in the USA? ›- Fully-Funded Rotary Peace Fellowships. ...
- Fulbright Foreign Student Program in USA. ...
- Global Undergraduate Exchange Program (Global UGRAD) ...
- American University Emerging Global Leader Scholarship. ...
- Knight-Hennessy Scholars at Stanford University.
While it is not specified, for US student visa applications, you must have a minimum balance of $10,000 to get an F1 visa. It is usually said that your bank account must show at least 1.5 times the amount mentioned in your I-20 form or a minimum of 10,000 USD to be considered eligible for the F1 visa.
Can a US citizen sponsor a friend for student visa? ›Can a U.S. citizen sponsor a non-family member for immigration? Unfortunately, no, you can't petition for a foreign national's visa or green card if they aren't a family member.
Who is eligible for EB-5? ›To qualify for the EB-5 program, a foreign investor must make a minimum capital investment into a new commercial enterprise that creates and/or preserves permanent full-time employment for at least 10 qualified U.S. workers.
Can I take a loan for EB-5 visa? ›Yes, you may use loans to finance your EB-5 investment.
The loan may be secured or unsecured. Loans are traditionally secured by the EB-5 investor's personal assets, such a real estate, for a home mortgage loan or a home equity line of credit (HELOC).
How much are EB-5 lawyer fees? Immigration attorney fees for filing the EB-5 petition can vary from $20,000 to $50,000, depending on the needs of the individual client and their families.
What are the disadvantages of EB-5 visa? ›The EB-5 investors are not guaranteed a green card because of the lengthy process and possibility that the project in which they invest could fail or undergo material changes, and there is no expedite processing of EB-5 petitions.
Do EB-5 investors get their money back? ›
The short answer is yes, investors get their investment back. Also, in most cases, EB-5 investors earn significant returns on their investments.
How many EB-5 visas are issued each year? ›Every year, USCIS issues a maximum of approximately 10,000 new EB-5 visas. At least 3,000 of the total number of visas are reserved for new petitions based on investments in projects endeavored by a Regional Center.
What happens if an EB-5 investment fails? ›Your Money Is Gone
Even though the novel idea behind your financial investment is towards creating value, there isn't much chance you'll get your money back after a failed EB5 project. Instead, your chances will depend on whether or not USCIS approved the project before things took a downturn.
What happens to the money invested in eb5? The EB-5 capital from a foreign investor is used by a U.S. business to complete the selected project and create American jobs.
What is golden visa in USA? ›A “golden visa” refers to a type of immigration program that many countries offer that can offer permanent residency to a high-net-worth (wealthy) individual, provided they can show that they are going to bring significant investment into the country.
Can EB-5 get citizenship? ›Assuming all eligibility requirements are met, an EB-5 investor may apply for naturalization in 4 years and 9 months from the date the conditional 2-year green card was issued.
Are parents included in EB-5? ›The EB-5 Program allows the principal applicant to include as derivative beneficiaries his/her spouse and any unmarried children under age 21. The principal applicant's parents, or any other relatives, may not be sponsored through EB-5.
Can I apply for EB-5 while in the US? ›Green Card Through EB5 Visa
You immediately get your immigrant visa as an EB5 investor if you're living in the US. For this, you also need to meet certain other requirements, such as: Filing Form I-485, Application to Register Permanent Residence or Adjust Status to apply for a Green Card without leaving the country.
If you have a valid, in-status H-1B visa, you are free to submit multiple petitions at the same time to United States Citizenship and Immigration Services (USCIS). Thus, you can take part in the EB-5 program while you are working in the United States without canceling your H-1B visa or any pending green card petition.
Can I get a U.S. visa if I buy a property? ›Essentially, investing in a business or buying a property in the U.S. could give you permanent residency. Of course, you have to fulfill the EB-5 program requirements first, like investing at least $800,000 or $1,050,000, depending on the location. As well as create at least 10 full-time jobs.
How much investment is needed for EB-5 2023? ›
This program allows investors to be granted permanent residence in the United States if they invest a minimum of $1 million into a new or existing business that will have at least 10 full-time employees and create jobs for U.S. workers.
How can I study in USA as an international student? ›...
- Financial aid and loans.
- Study in the U.S. Learn English. Study in the U.S. as an international student. ...
- Libraries and archives.
In order for a foreign national to live and work in the United States on a permanent basis, s/he must become a Lawful Permanent Resident (LPR). LPR status is conferred on those foreign nationals who have received approval to immigrate to the United States.
How much does it cost to sponsor a international student? ›| Visa/Form | Cost |
|---|---|
| Form I-129 | $460 |
| Form I-140 | $700 |
| American Competitiveness and Workforce Improvement Act of 1998 charges | $750 to $1,500 |
| Fraud Prevention and Detection Fee | $500 |
Although there isn't a predetermined minimum balance needed, an F-1 visa requires a minimum balance of 10,000 USD.
How much money can international student take to USA? ›You may bring large sums of money with you in the form of cash, money order, or traveler's checks. There is no maximum limit, however, any amount exceeding $10,000 USD must be declared upon arrival on both the Form 6059B and FinCEN 105. All forms must be filled in completely and truthfully.
How much income for international students in usa? ›| Annual Salary | Monthly Pay | |
|---|---|---|
| Top Earners | $76,000 | $6,333 |
| 75th Percentile | $55,000 | $4,583 |
| Average | $49,438 | $4,119 |
| 25th Percentile | $35,500 | $2,958 |
Income Requirement to Become a Sponsor
The most common minimum financial requirement is an annual income of $22,000. This figure is calculated to be at least 125% above the Federal poverty level based on the ASPE. It is also crucial to note that this figure changes yearly depending on the poverty level fluctuations.
Place of Study
What type of sponsor will you be studying with? The Register of Student sponsors sets out what type of sponsor each institution on the register is. A Higher Education Provider with a track record of compliance will have the status 'General Student Sponsor – Track Record'.
Does the hiring employer need to sponsor an international student? No, not initially. The most common type of student visa (F-1) allows for an initial 12 months of full-time work authorization. This is called Optional Practical Training (OPT) and is a direct benefit of the student's current F-1 visa status.
Does EB-5 guarantee a Green Card? ›
To receive this visa, you must invest at least $800,000 in a US enterprise and create at least 10 American jobs. If you are eligible for the EB-5 Visa, you receive a Green Card and you are allowed to live in the US. You can include your dependent family members in the application.
Does EB-5 visa lead to Green Card? ›USCIS administers the EB-5 Program. Under this program, investors (and their spouses and unmarried children under 21) are eligible to apply for lawful permanent residence (become a Green Card holder) if they: Make the necessary investment in a commercial enterprise in the United States; and.
How long does it take to get Green Card after EB-5? ›EB-5 visa processing time for I-526 Immigrant petition ranges between 29.5 and 61 months, as of May 2023, USCIS processing estimates. For investors present in the USA, I-485 Processing time of USA investment Green card application to Adjust Status is 7 to 29 months depending on the service center.
Can you take a loan for EB-5? ›Yes, you may use loans to finance your EB-5 investment.
Loans are commonly used as one of the sources to meet the minimum EB-5 investment amount. The loan may be secured or unsecured.
This status is good for two years. The investor and their family members can live and work anywhere in the U.S. During the 2-year conditional residency period, the EB-5 visa investor will be required to fulfill physical presence requirements, and cannot remain outside of the United States for more than one year.
Can I apply for EB-5 visa while in USA? ›You immediately get your immigrant visa as an EB5 investor if you're living in the US. For this, you also need to meet certain other requirements, such as: Filing Form I-485, Application to Register Permanent Residence or Adjust Status to apply for a Green Card without leaving the country.
What are the risks of EB-5? ›EB-5 visa regulations dictate that the investor's capital needs to be "at risk" and no guarantees are allowed to be offered to the investor on any return on, or of capital. In layman terms, this means that in the process of getting a green card, if not careful, you could potentially lose the entire amount invested.
What happens when an EB-5 project fails? ›Your Money Is Gone
If USCIS approved the project before it failed, the government would still honour the petition. However, if USCIS didn't approve the project before it failed, they can choose not to honour it — even if it was approved previously.
On March 15, President Biden signed a law that includes authority for an EB-5 Immigrant Investor Regional Center Program and various implementation effective dates for the program. The program will be in effect through Sept. 30, 2027.
Can I get a US visa if I buy a property? ›Essentially, investing in a business or buying a property in the U.S. could give you permanent residency. Of course, you have to fulfill the EB-5 program requirements first, like investing at least $800,000 or $1,050,000, depending on the location. As well as create at least 10 full-time jobs.