16 UGLOBAL IMMIGRATION MAGAZINE
“ Tax planning for high-net-worth individuals has become crucial in this era of second passports , residencies , and global access .
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CHILDREN AND EDUCATION LEAD MANY HNWIS TO SEEK RESIDENCY OPTIONS
The most important reason why HNWIs continue to explore investment immigration options is for future planning purposes , specifically for their children . Parents from Eastern nations often prefer sending their children to school in Western nations such as the EU , Canada , and the United States to offer them future opportunities in their chosen career fields and superior education . One of the main purposes is to allow their children to obtain jobs with large Fortune 500 companies after graduation and develop their CVs . For this reason , the United States EB-5 Immigrant Investor Program remains the most popular option for wealthy individuals planning to educate their children . Under the EB-5 program , an investor must invest a minimum of $ 800,000 in an EB-5 approved project to obtain a green card for the investor , their spouse , and any children under 21 .
Although the minimum investment amount for EB-5 increased in 2022 to $ 800,000 , the program ' s popularity has not slowed down . In fact , an increasing number of parents have obtained a green card for only one child in the family who may already be a student in the U . S . or working there on restrictive visas such as the H1-B .
With a U . S . green card , the child can take advantage of lower tuition rates , work without sponsorship during the summers while receiving their education , and obtain employment without sponsorship upon graduation .
The introduction of Adjustment of Status ( AOS ) Concurrent Filing in 2022 , has only further bolstered the appealing nature of the program . Under AOS Concurrent Filing , an applicant can file for an Employment Authorization Document and Travel Document while submitting their EB-5 application . This means that an applicant can continue to live and work legally in the United States while waiting for their green card to be processed . Before that , an applicant would have to wait approximately 24 and 36 months for the green card to be processed before they could enjoy the benefits of living and working legally in the U . S .