Visa-for-Sale: the EB-5 Immigrant Investor Program

Very generally, the EB-5 program provides a pathway to legal permanent residence to eligible foreign investors who invest $1M into a new commercial enterprise, or at least $500k in rural or high unemployment areas. There are certain requirements of job creation (must create at least 10 jobs in two years), and on its face, the program appears to be a win-win for both foreign nationals eager to i.e., get their students educated in the U.S., and for the local, regional, or the national economy. However, with very little oversight by an agency (USCIS) ill-equipped to assess business plans, risks or securities, there is a dark side to this buy-your-birthright program. This article details a prime example of issues arising fromĀ a well-meaning program that in practice is wrought with corruption.

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