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The same wave of shifting perspectives has also hit the Indian shores. My parents came to the U.S. around 1980 from India. At that time, a common and respected life path for children of successful Indian families was to come to the U.S. to graduate or attend business school, build a respectable career, and set future generations up for success in America. No longer is this the expectation or the clear choice.
For India’s new generation, their U.S. stint may comprise a few things such as – earning their bachelor’s degree from a respected university, gaining work experience at a reputable firm, and then going back to India to harness this experience and pursue the abundant opportunities available back home.
With refined skill sets and strong networks from their time spent at top-tier universities and corporations in America, they are well-equipped to claim their stake in India’s promising future and reach new heights of success.
To be clear, this may not become the new standard. The more common choice remains staying in America, and for good reason. The Indian diaspora is by far the most successful immigrant population in the U.S. and is only getting stronger each year. The point is that the next generation has multiple paths to choose from; fortunately, both destinations are compelling.
For the next generation, having the optionality to participate on both sides of the India – U.S. intersection holds significant value. Many affluent families are turning to ‘residency-by-investment’ programs to do so and to give their children a leg up, regardless of which path they choose. For those in India who have the financial resources to invest the necessary amount, the U.S. EB-5 visa has become an attractive option.
Under EB-5, an investor can secure a green card (i.e., U.S. permanent residency) for themselves and their immediate family by investing a minimum of USD 800,000 into a qualifying commercial project. Many consider it somewhat of a safety net for their family’s future. Should the next generation decide to build a life in America, they can do so without restriction. Not only easing their admissions into reputed colleges but also helping their chances of acceptance.
After earning their degree, a permanent residency status provides the freedom to work anywhere they choose, rather than beholden to only the jobs and companies that provide the employer sponsorship required for non-green card holders (like the H-1B visa). With an EB-5 visa, they gain access to several roles and opportunities that would otherwise be unattainable. Like, joining an innovative AI startup or working for a boutique investment firm or even starting their own business.
The strong presence of Indian families across the globe affords the next generation tremendous flexibility in carving their paths. Some will settle in the U.S. in pursuit of their version of the American dream. Others will refine and diversify their skillsets abroad, before coming back to deploy their skills and ride the tailwinds in India. ‘Residency by investment’ programs like EB-5 serve as an effective tool for affluent families to open new doors and unlock the best of both worlds for the next generation. Fortunately, no matter which path they take, the future looks promising!
(Author is Founding Partner, Ek.indUS)
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Publish date : 2024-11-13 18:44:00
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