The EB-5 Reform and Integrity Act of 2022 has significantly reshaped the EB-5 visa programme, especially in terms of the minimum investment period. These changes, enacted by the United States Citizenship and Immigration Services (USCIS) on October 11, 2023, offer new prospects for Indian students aiming to pursue their education in the United States.
Policy Changes Explained
Under the EB-5 Reform and Integrity Act of 2022, investors now need to keep their funds at risk for a minimum of two years starting from when the funds are deployed to the job-creating entity (JCE). Because of these changes made by the RIA, investors no longer need to sustain their investment throughout their conditional residence, which may be many years in the future and dependent on factors outside the investor’s control such as visa availability. Instead, the investment must now be expected to remain invested for at least two years, provided job creation requirements have been met. This shift in policy creates a more streamlined process for investors seeking a US Green Card.
EB-5: An Ideal Choice for Indian Students
“The reformed EB-5 programme,” commented Nicholas A. Mastroianni III, President and CMO of US Immigration Fund (USIF), “is particularly advantageous for Indian students seeking educational and career opportunities in the US By obtaining a Green Card through the EB-5 programme, students gain access to top US universities with better admission rates and lower in-state tuition fees. Furthermore, the programme offers unrestricted job opportunities, allowing students to engage in off-campus work, and internships, and gain valuable work experience, enhancing their career prospects in the competitive US job market.”
The EB-5 visa stands out as a robust pathway for Indian students, offering a more permanent and stable solution compared to other student or work visas. It not only facilitates access to high-quality education and career development but also provides a foundation for a long-term future in the United States, with the possibility of applying for US citizenship after five years of residence.
He expressed, “With the EB-5 Reform and Integrity Act of 2022, the EB-5 visa programme emerges as an excellent choice for Indian students planning to study and build their careers in the US The programme not only provides educational benefits and career growth opportunities but also offers a sense of permanence and stability, making it an attractive option for those looking to invest in their future in the United States.”
The EB-5 visa programme can offer Indian students numerous benefits as they pursue higher education in the United States. The foremost is to provide them and their families a pathway to US residency, ensuring they can remain in the country without any of the uncertainties associated with student visas.
Given that the EB-5 visa leads to a green card, students would have increased access to US public colleges and universities, and could potentially qualify for in-state tuition in some cases, significantly reducing the cost of education.
Moreover, it can provide a greater level of stability and flexibility, freeing students from many restrictions of other visa categories. For instance, they would not need to maintain a full course load or worry about working off-campus, giving them more leeway to pursue internships, co-op opportunities, or part-time jobs that could enhance their practical experience.
The article was originally posted by The Times of India
Authored by Sanjay Sharma