Using cash to obtain a US permanent residency visa is getting more expensive. The EB-5 visa will now cost rich foreigners a minimum investment of $900,000. That’s up from $500,000, the requirement set in 1993. It’s part of a long-awaited reform.
The EB-5—which grants a two-year conditional green card—has been linked to a litany of controversies. Investors’ money was often spent on luxurious projects rather than in the distressed areas Congress intended. Fraudsters continue to use what critics have called the “golden visa” program to swindle foreigners. Read more at: https://qz.com/1673369/the-us-eb-5-visa-will-soon-cost-900000-not-500000/
Contact Darren Heyman, immigration attorney, for more information.
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