Wouldn’t it be nice to get a green card without having to go through the traditional channels? Well, for those who can afford to invest in certain business ventures in the United States, a certain visa program does make this type of assistance with green cards a possibility. Unfortunately, there have been several fraud investigations opened as a result of issues with the program. One company being investigated is actually located in California.
The EB-5 visa, often referred to as the $500,000 greed card or an investor visa, is something that foreigners may apply for with the hopes of obtaining green cards without having to go through the regular immigrantion procedures. Those who invest $500,000 or more in select ventures, which results in the creation of 10 or more jobs within two years, can be given green cards. For those with the funds, this program is certainly appealing.
Unfortunately, there are those ready and willing to take advantage of these investors. In fact, there are currently 59 active investigations into what are believed to be EB-5 scams. For example, a firm in California is under investigation for trying to get investors to supply funds for a questionable oil drilling business. Because of this, and other concerns, lawmakers are looking to make adjustments to the program.
Despite any problems surrounding the EB-5 program, in 2014 the 10,000 available visas were claimed in just a few months. Over the life of the program, several reputable ventures have taken off and thousands of jobs have been created. For those seeking assistance with green cards, an experienced attorney can offer information and guidance regarding not only this program, but other immigrantion issues as well.
Source: ABC News, “Dozens of Fraud Investigations Target US immigrantion Program for Rich Foreigners“, Matthew Mosk, Aug. 12, 2015