The recent reforms to the EB-5 Golden Visa program, including the introduction of a new reserved visa category, have made it even more beneficial for Indian nationals. Priority processing for UAE residents and expats from neighboring GCC countries further streamlines the application process.
The primary attraction of the EB-5 Golden Visa among expats in Dubai, Doha, and other GCC regions is the substantial educational benefits it unlocks for families. Over the past decade, an increasing number of families from the GCC have been sending their children to the US for education. Once families are approved through this program, they gain access to free education in public schools from Kindergarten to the final year of high school, eliminating significant out-of-pocket expenses for parents.
For higher education, children of EB-5 visa holders are considered US persons rather than international students. This status not only improves their acceptance rates at US universities but also allows them to benefit from lower tuition fees. Moreover, US national policies ensure access to education regardless of the parents’ financial capabilities, allowing children to receive government funds covering tuition, housing, books, transportation, and other necessities.
The US EB-5 Golden Visa also offers significant employment opportunities for visa holders and their families. With the US unemployment rate below four percent, companies are actively seeking skilled workers. However, US nationals are preferred for these positions, which makes the EB-5 visa an attractive option for GCC residents looking to enhance their job prospects or start their own businesses in the US.
For those looking to start or expand businesses, the EB-5 program provides a straightforward path to US residency. This allows entrepreneurs to leverage the US market, contributing to economic growth while ensuring their families can join them in the future.
Recent reforms have made it possible for families to file their applications together and move to the US immediately, eliminating the need to wait for petition approval before migrating. This change allows families to plan their future more effectively and take advantage of the program’s benefits sooner.
Importantly, the EB-5 program offers a quicker path to US citizenship and the coveted US passport. This is particularly important for expats in the GCC, as it increases job prospects and potentially higher salary offers if they continue working in the region.
Families who have successfully pursued the EB-5 visa have experienced firsthand its transformative benefits. Ishan Ram, a long-time resident of Dubai, used the EB-5 visa to secure his children’s education and future in the US. Concerned about the high costs of international student fees, Ishan filed his family petition under his wife’s name, ensuring that his children and wife obtained Green Cards. While he continues to work in Dubai, his daughter is set to begin university in Chicago, illustrating the program’s effectiveness in reducing education costs and securing a stable future for his family.
The EB-5 program, established by the US Congress in 1990, aims to boost the US economy through foreign capital injection and job creation. The program requires an investment of $800,000 in qualifying government pre-approved real estate projects. In exchange, investors and their families receive US residency and Green Cards, with the capital investment eligible for return after approximately five years.
In March 2022, the EB-5 Reform and Integrity Act (RIA) introduced significant changes to the program, making it more appealing to investors. These changes include concurrent filing, allowing investors to live and work in the US while awaiting their application adjudication, and new visa categories prioritizing applications from high-demand regions, such as India.
Beyond education and employment, the EB-5 visa grants families access to top-quality healthcare in the US, ensuring they can receive excellent medical care and benefit from advanced treatments and medications.
The US Golden Visa not only secures immediate benefits in education and employment but also promises long-term advantages, such as a stable path to citizenship and enhanced global mobility with a US passport. As geopolitical tensions rise, having US residency provides a safety net and increased opportunities for GCC expats and their families.
In conclusion, the priority processing of EB-5 visas for UAE residents and GCC expats offers transformative benefits, impacting education, employment, and long-term security for families. The reforms and enhancements to the program ensure that more individuals can take advantage of these opportunities, contributing to both personal growth and economic development.
