The EB-5 immigrant investor visa program. How to get a US green card by "investing" a minimum of $500,000 through politically connected Wall Street financiers.

  • bobbobbob

    Posts: 2812

    Apr 12, 2015 5:39 PM GMT
    The program has been around for 25 years and started with the Immigration act of 1990, introduced by Ted Kennedy, signed by Bush.

    It really did sound like a good idea at the time. The part I supported in it was that it created a system of lotteries through embassies in small nations for skilled workers to apply for and obtain H1B visas to emigrate to the US to work. Through it I've obtained a great 23 year simpatico friendship with a guy named "Pri" (Priantha), from Sri Lanka who was an employee of my lover who died in 1995. Pri stepped up to manage the business and was great at it. He's one of the most ethical and honest people I've ever met. In 1997 Pri and I worked out the details for him become owner of the business. He's done some amazing things with it, a total success. I know my mate of 23 years would be as proud of Pri as I am.

    But somewhere along the line the EB-5 immigrant investor visa program was stuck into the Immigration act, then expanded and altered to become a monster industry. Quite simply, EB-5 visas now can be bought for a minimum of $500,000 through a few US financial companies with political connections who bundle the money to supposedly create jobs and reinvest in troubled businesses and even cities facing financial crises. There's a stipulation that each investor's money must create or protect ten US jobs, but that would be impossible to track due to the way the money is handled.

    Also there's been no published record of government oversight or review of the money into the EB-5 visa program since its inception. Several scandals have already erupted over the close ties between those selling EB-5 visas, politicians and high officials in INS and other government departments. It has also been proven as a fast track to permanent residency into the US without the normal background checks and screenings done for all other visa holders.
    A quote from Wikipedia:
    " Initially, under the first EB-5 program, the foreign investor was required to create an entirely new commercial enterprise; however, under the Pilot Program investments can be made directly in a job-generating commercial enterprise (new, or existing - "Troubled Business"[2]), or into a "Regional Center" - a 3rd party-managed investment vehicle (private or public), which assumes the responsibility of creating the requisite jobs. Regional Centers may charge an administration fee for managing the investor's investment.

    At the same time....
    ...the H1B green card by lottery programs have been reduced in some nations and increased in others with a strange correlation to the policies of the and affinities of the White House. Priantha informed me Friday that in Sri Lanka the lottery H1B visas program now gives preferential treatment to people in the northern part of the nation that is predominantly Muslim. They are a 10% minority on the island who joined the 25 year Tamil Tiger (aka LTTE) civil war to form a separate nation.

    That means nothing?
    Here's a quote from Wikipedia.
    " The LTTE (was the only militant group to assassinate two world leaders:[8] former Indian Prime Minister Rajiv Gandhi in 1991 and Sri Lankan President Ranasinghe Premadasa in 1993[9][10][11] The LTTE invented suicide belts[8] and pioneered the use of women in suicide attacks.[8] It was the first militant group to acquire air power[12] and used light aircraft in some of its attacks.[13] It is currently proscribed as a terrorist organisation by 32 countries, including India, but has support amongst Tamils in Tamil Nadu in India.[14] Velupillai Prabhakaran headed the organisation from its inception until his death in 2009.[15] (2009= the year the civil war ended)

    The way it looks there are two separate abuses involved:
    1. The EB5 visa program has become a cash cow for the big financiers who are literally selling permanent residency into the US with a minimum of government oversight into the people they aid in getting visas or the manner in which the money they raise is handled.
    2. moving the goal posts to qualify for H1B visas issued by lottery based on the whims of executive branch preferences.

  • bobbobbob

    Posts: 2812

    Apr 12, 2015 6:11 PM GMT
    southbeach1500 saidWe tried hiring someone for an H1B a few years ago at the software company that I am a part owner of. He was approved no problem, but when he went for the interview at the embassy in one of the Scandinavian countries, he was immediately placed in what they call "administrative processing" which means that the immigration agent doesn't want to give you the visa, but has no grounds to refuse the visa, so the poor soul languishes in administrative limbo until they (or the company) gives up.

    It's been 5 years, nobody can find out why our potential hire is still in "administrative processing" - the system truly sucks.

    That's easy to solve SB!!!!!!

    Just dish out $500,000 so he can get a EB5 visa and he can be a permanent resident in 30 days according to one of the websites for the program.

  • bobbobbob

    Posts: 2812

    Apr 13, 2015 1:57 AM GMT
    southbeach1500 saidWell clearly Obama and the Democrats at the State Department are catering to their rich campaign contributors with this policy.

    No doubt about that!

    You can be sure there's a money trail right through INS or the Wall Street financiers selling the visas right to the White House from the EB5 visa scam.

    All you have to do is look at the names of the people involved and then look at what they've been involved with in the past...