Transnational higher education (TNHE) has been characterised as a crude form of market-driven internationalisation, often targeting immobile student populations in countries with high demand for international academic degrees. In response to recent scholarship on the role of higher education internationalisation in facilitating and producing diasporic networks, this study examines its inverse: how TNHE services existing diasporic communities in situ by mobilising institutions across borders rather than student bodies. It specifically examines these dynamics within the United Arab Emirates (UAE), simultaneously host to one of the largest concentrations of TNHE globally and a five million-member diasporic community of long-term, yet impermanent residents from South Asia. Drawing on interviews with South Asian students in undergraduate degree programmes at three British international branch campuses (IBCs), it explores how students perceive their IBCs as strategic sources of valuable degree capitals for enhancing employment opportunities in the UAE and securing against precarity and uncertain futures as perpetually impermanent residents. The research implicates the role of TNHE in diaspora policymaking, asking how IBCs function as an extension of a limited social contract between a diasporic community and its 'host' state.