Investor Visa Program Becomes Popular way to Buy Green Cards

The number of investor visas granted has increased since last year, a reflection of better promotion of the visas by regional investment centers, certified by the federal government under the EB-5 (investor visa) program. The advantage to the investment center is that they can count jobs indirectly created, at suppliers or other firms, as opposed to a direct employment requirement.

"That immigrant investors are more focused on obtaining visas than maximizing profits -- combined with the government's limited capacity for oversight -- has caused even some avid proponents of the EB-5 program to worry that a profusion of fraudulent or ill-advised ventures might soon flourish alongside legitimate ones," the Washington Post reported.

[FAIR comment: The EB-5 visa has become distorted from its original concept. It was a "million dollar visa" designed to attract Hong Kong residents worried about the incorporation into China. Now half that much invested buys a visa for the family. It was designed to reward entrepreneurs. Now foreigners can buy into an investment created by others who make a living off of packaging investment deals.]