To gain eligibility for permanent residence under the program, Chinese investors have been falling over themselves to participate in the EB-5 visa program which makes immigrants eligible to apply for a green card if they pay over $500,000 in a project that creates at least 10 permanent, full-time jobs for U.S. workers.
A maximum of 10,000 total EB-5 visas are authorized every year, according to the U.S. Citizenship and Immigration Services agency. Last year the number Visa issued was 8,505, while in 2007 only 471.
This weekend the Kushner Companies invited wealthy Chinese to invest cash into a New Jersey real estate project via the EB-5 program. The tagline on a brochure for the event: “Invest $500,000 and immigrate to the United States”. This could be a solution for Chinese who want to invest in U.S. And immediately lot of issues have blown up.
The Kushner family wants a piece of the huge tide of money that’s been flowing out of China.