Is It Really True That You Can Buy a Green Card?
By Melissa N. Salvador
April 4, 2017
It has been said by many that a green card can be bought for USD$1M or USD$500,000.00 (for targeted employment areas) and there have been proposals to increase these amounts to USD$1.8M and USD$1.35M, respectively. Those who say this are referring to the EB-5 visa for Immigrant Investors.
Reasonable minds would think putting half a million or a million dollars into an at-risk investment with no guarantee of receiving a return on investment would hardly be considered a purchase. Risking an investment of this magnitude is just one of many requirements foreign investors must fulfil to obtain a green card under the EB-5 program.
In 1990, Congress created the EB-5 program (the Regional Center Pilot Program was established in 1992) to stimulate and produce job growth in the United States by allowing investors to establish or rescue commercial enterprises for a direct benefit or to pool their money with other investors for the benefit of a third-party via the Regional Center Pilot Program. In exchange for a green card, foreign investors must also prove, among other things, that their capital contribution was linked to the creation or preservation of 10 jobs for U.S. citizens or permanent residents.
From inception of the program, foreign investors with approved EB-5 petitions have not had to wait for a visa number unless they are immigrating from China. This makes the EB-5 visa an attractive option for bypassing the significant wait times that most have to endure under the family-based immigration system, or where there is no other alternative to immigrate to the U.S. … provided they can afford it!
