We need more of these: Foreign citizens making big investments in U.S. in exchange for green cards
The EB-5 program is booming in popularity, driven largely by a struggling U.S. economy in which developers are searching for new sources of capital. It is also fueled by rising demand from foreigners looking for access to U.S. schools, safe investment in U.S. projects and — in the case of China, where most of the investors are from — greater freedom.
The program has broad bipartisan support in Congress, and key senators who are negotiating an overhaul of the immigration system have said they are leaning toward expanding visa programs that provide an immediate boost to the economy.
Since the EB-5 program began in 1992, more than 29,000 people have received visas, foreigners have invested more than $6.8 billion and 50,000 American jobs have been created, U.S. officials said.
IF (big “if”) the government can carry out this program in such a way that real investors are bringing thriving businesses, there’s only thing to say:
Tags: Fausta's blog