It’s the the EB-5 visa program and we’ve posted on it before. But it’s getting new attention from ABC News.
Basically if one is from another country and one has $500,000 to invest in something one may find oneself with a freshly minted permanent residency status if one goes through this program. The fast-track immigration route has become very popular and is a tool of influence for politicians.
(From ABC News)
Five different Homeland Security whistleblowers spoke with ABC News about a range of cases where visas were approved despite numerous red flags. They said objections were often ignored because the immigration program is so popular within the Obama Administration and with members of Congress from both parties. Known as the EB-5 visa program, foreigners who are willing to invest $500,000 in an American business can jump to the front of the line and obtain legal status to live in the U.S. for two years. If the investment is shown to create at least 10 jobs, the investors can receive a “Green Card” — permanent residency.