Should the U.S.
Limit EB-5 Investor Visas?
The EB-5 Investor Visa typically allows for up to 10,000 foreign
individuals to obtain permanent residency status (or a green card) in the
United States. This type of visa is reserved for individuals who are looking to
invest at least $1 million in a new commercial venture or $500,000 in a
targeted employment area.
The EB-55 investor visa program has the following key
requirements:
- Amount of Capital
- Type of Capital
- Qualifying Investments
- Job Creation
- Investor Management
There is some controversy over the EB-5 investor visa
program however, since roughly 85 percent of recipients are Chinese citizens. In
some cases, a Chinese Eb-5 visa applicant may receive a green card in as little
as two years. Some individuals are beginning criticize the EB-5 program as a
way for Chinese citizens to have a fast-track to a U.S. green card.
There are caps in place with respect to how many foreign individuals
can receive an EB-5 visa from a particular country. That said, Chinese EB-5
recipients often exceed the cap because the program is fairly unpopular in
other countries.
On the flip side, some praise the EB-5 investor visa program
as a way to create jobs and stimulate the U.S. economy. A recent NBCnews.com
article described how the EB-5 program brought money into project including the
Hudson Yards in New York and the Hunters Point Shipyard in San Francisco.
So what are your thoughts – should we begin to limit EB-5
visas for Chinese individuals, or open the flood gates?
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