Top regional center chief says Obama’s EB-5 tweaks would decimate program
Just before President Obama left office, the Department of Homeland Security proposed some serious rule changes to the EB-5 visa program, which awards green cards to foreign nationals investing in job-creating U.S. projects. The government currently gives out 10,000 of these visas a year, the overwhelming majority of them to Chinese investors investing in real estate development projects.
In the wake of a number of scandals related to fraudulent investment activity, dirty money, and skepticism about how many jobs the program really creates, the Obama administration proposed raising the minimum investment threshold to more than double what it is now, shallowing the pool of eligible investors.
- The Real Deal
- U.S. Chamber of Commerce
- Hudson Yards Manhattan Tower A-1 - A-8
- Chuck Grassley
- Gotham City Regional Center (Silverstein Properties Regional Center )
- New York
Subscribe for News
Join Professionals on EB5Projects.com →
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.