You can file petition in HC for quashing of FIR on basis of settlement arrived at between the parties 

2) 

When the parties have reached the settlement and on that basis petition for quashing the criminal proceedings is filed, the guiding factor in such cases would be to secure:

(i) ends of justice, or

(ii) to prevent abuse of the process of any Court.

While exercising the power the High Court is to form an opinion on either of the aforesaid two objectives. Such a power is not be exercised in those prosecutions which involve heinous and serious offences of mental depravity or offences like murder, rape, dacoity, etc. Such offences are not private in nature and have a serious impact on society.

3) 

11. In Parbatbhai Aahir v. State of Gujarat: (2017) 9 SCC 641, the Supreme Court, inter alia, observed that "the decision as to whether a complaint or first information report should be quashed on the ground that the offender and victim have settled the dispute, revolves ultimately on the facts and circumstances of each case and no exhaustive elaboration of principles can be formulated."

12. The question whether an FIR, alleging an offence under Section 304A of the IPC, can be quashed under Section 482 Cr.P.C. on the basis of a settlement arrived at between the accused and the victims of the incident, is required to be examined on the facts of each case

1. You may have to ask the parents of the victim to turn hostile during witness evidence deposition at the time of trail proceedings before the trial court.

Once the witnesses turn hostile, with the concurrence of court about compromise settlement, you can be acquitted by court.

2. Once you are acquitted in the case, you need not worry about the immigration issues, this will not impact that process. 

As the person has died there cannot be an out of court settlement. The parties may agree not to do anything but this is a police case. Therefore the trial will commence and after witness and evidence the court will pronounce the judgment.

You may get away with fine and a simple imprisonment if found guilty.

unless rash and negligence on your part is established.. you will not be found guilty. since your narration contains that the fault is from the boy and he is minor who might not have driving license, it would be highly probable that you might not be found guilty and there is every chance to be acquitted by the concerned court. 

it is not a case of moral turpitude, it might not be a problem for visa verification. anyway get the proceedings concluded at the earliest.

. Legally there are two cases filed for any accident , the first one is an FIR by the police for the said incident , where one has to prove the case in the trial 

- Further, the family of the victim claims compensation after filing a case before the court, and this case can be compromised with the other party .

- Hence, court will summon you , where you will have to appear before the court. 

2. Visa verification can be effected due to lodging FIR against you . 

- Hence, you can approach the court for settle the matters with the victim family. 

Dear Sir, 

1.You can file petition in High Court for quashing of FIR on basis of settlement arrived at between you and the other party.

The parents of the victim can be witness evidence  at the time of proceedings before in the court about your compromise,   you can be acquitted by court.

2. Once you are acquitted in the case, you need not worry about the immigration issues, this will not impact that process but also Visa verification can be effected due to lodging FIR against you and you didn't get acquitted for the same.

Thank you

Read your another post

1. Any settlement will not help in criminal case as the offence is non-compoundable, that is it cannot be compromised. But you will come of case acquitted. As in such cases conviction is very low and offence is not committed with criminal intent. Police will not prosecute such cases hotly.
2. Such cases of accident are without purpose and not for any gain. It will not affect your record and chances of visa, passport, government jobs etc.