In the News
Immigrants invest in U.S. businesses in exchange for visas
January 10, 2010
The Washington Post - By N.C. Aizenman
Click here to see the article published online.
"The number of foreigners willing to invest $500,000 to $1 million in a U.S. business in exchange for a visa roughly tripled in the past fiscal year, as dozens of cash-strapped enterprises and local governments scrambled to attract wealthy foreign backers through a previously obscure provision of immigration law. Under the EB-5 visa program, immigrants who can demonstrate that their investment created or preserved at least 10 U.S. jobs after two years are granted legal permanent residency along with their spouses and children...Stephen Yale-Loehr, a professor at Cornell University's law school and executive director of a trade association of regional centers, said the number of EB-5 visas being granted falls well short of the maximum 10,000 allowed each year. 'There's a lot more that we could be doing to promote the EB-5 program so that it can achieve its true potential in this economic recession,' he said."
