EB-5 and Its European Counterpart Subject to Expected Changes, Oversight
In June 2018, Congress held a hearing on “Citizenship for Sale: Oversight of the EB-5 Investor Visa Program.” The current EB-5 program allows wealthy individuals to apply for and obtain green cards by investing anywhere from $500,000 to $1,000,000 in U.S. enterprises. Like any other green card holders, after five years, the beneficiaries can apply for citizenship. The title of the hearing reflected Congress’ concerns about EB-5 program: fraud, abuse, and national security risks related to the program.
- New York
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