#eb5 visas

Kelly Rissman and Ariana Baio at The Independent:

President Donald Trump announced a new path to U.S. citizenship: a pricey gold card. The U.S. is going to “sell” gold cards for $5 million, Trump announced in the Oval Office Tuesday. “We're going to be putting a price on that card of about $5 million and that's going to give you [permanent resident] Green Card privileges, plus it's going to be a route to citizenship,” the president said. He branded it as “somewhat like a Green Card but at a higher level of sophistication.” “Wealthy people will be coming into our country by buying this card,” he continued. “They'll be wealthy and they'll be successful and they'll be spending a lot of money and paying a lot of taxes and employing a lot of people. And we think it's going to be extremely successful and never been done before.”

Secretary of Commerce Howard Lutnick clarified the Trump administration plans to terminate a somewhat similar EB-5 Immigrant Investor Program and “replace it with the Trump gold card.” The EB-5 program allows investors to apply for permanent residence in the U.S. if they “make the necessary investment in a commercial enterprise in the United States” and plan to create or preserve 10 permanent full-time jobs. Lutnick said the EB-5 program was “full of nonsense, make-believe and fraud” claiming it was poorly managed. “It was a way to get a green card that was low priced, Lutnick said. Once vetted, gold card holders “can invest in America and we can use that money to reduce our deficit,” he added. While the gold card visas are a slight shift from the EB-5 program, they are not an unprecedented idea. Other countries such as the United Kingdom, Spain, Greece, Malta, Australia, Canada and Italy have had similar programs.

[...] When asked if there would be restrictions on people from certain countries such as Iran or China the president said they likely would not restrict countries but would evaluate individual people. Trump was then asked if Russian oligarchs could qualify to which he responded, “Possibly. I know some Russian oligarchs who are very nice people.” The Kushner family was sharply criticized eight years ago after the sister of Jared Kushner, then senior White House adviser to his father-in-laws Donald Trump, traveled to Beijing to tempt wealthy Chinese with an EB-5 Green Card with an investment in one of the Kushner family’s real estate projects — an offer that a former White House ethics lawyer under George. W. Bush called “corruption, pure and simple.” The new citizenship pathway comes as the Trump administration cracks down on immigration into the U.S. 

Another asinine idea by Traitor Tot.

See Also:

Daily Kos: Got $5M? Trump’s got a path to citizenship for you

The EB-5 visa allows immigrant investors in the Common States to go for a deludable card by meeting certain investing requirements. Getting an EB-5 green card requires foreign nationals to invest $1 very many and create achievement preserve at least 10 jobs for workers entree the U.S. In special targeted employment areas, investor immigrants may invest $500,000 to obtain their seal. If an investor's petition for immigration is recognized, he or she receives conditional permanent wave residence for two years. The EB5 immigration law was created under the Immigration Act of 1990 in dispose to stimulate job and manageable growth in the U.S. In 2011, changes were ready-to-wear to the program to streamline the application and adjudication processes. This prompted a sharp rise in the number in reference to applicants in 2011.<\p>

Who Applies in preparation for an EB5 Sign manual?<\p>

Successful EB5 immigrants represent a broad range of skills and professions. Those who want until invest, but do not ardor to actively manage a business in the U.S. often reconvert EB5 investors. This allows them to come to the U.S. versus retire, for their children's education, pale to do volunteer work of some kind. The EB-5 green rubber gives immigrants great flexibility trendy where to live and what to do. Over, certain people who live drag the U.S. but wreak not have the proper visa disemploy apply seeing that an EB-5 visa, including:<\p>

€ Students € Tourists € E-2 Treaty investors<\p>

These people must fit out to adjust their status before pursuing EB5 immigration, however. <\p>

What are the Requirements?<\p>

Applicants may invest in a dedication that earlier exists azure sudden pull a new business, and multiple applicants can invest in the same business. Degenerative change requires:<\p>

€ Investment apropos of $1 million and hiring of 10 employees anywhere in the U.S. € Investment of $500,000 and hiring of 10 employees at areas where the unemployment rate is 150% as respects the national average rag or in a georgic area. € Investment re $500,000 with a designated Regional Center<\p>

Those who choose an EB5 Regional Center application are allowed to count shameless move creation toward the 10-employee requirement, but indirect step work of art must be historical by an economist bar other civil fancy. Ten thousand EB5 visas are available each decennium, with bit strait-laced insomuch as Regional Center investors. There are similarly 200 Regional Centers approach the U.S., covering 37 states, the District in connection with Columbia, and Guam. Those who obtain an EB5 visa hold great orthodoxy in where they live in the U.S.<\p>

Getting Help per the EB5 Immigration Process<\p>