Monday, September 10, 2012

Investor Visas Being Investigated

As this article points out, the Federal Government is investigating investor visas, or EB-5 visas.  The whole idea is that a person can invest $1 million and employ 10 people, or $500,000 in a high unemployment or rural area and employ 5 people, and get permanent residency.  I recognize that this tool exists, and would be happy to assist anyone who legitimately has that kind of money to invest in the United States.

Nonetheless, the visa does seem open to fraud.  I know I had been approached by some who had an idea to create a scheme to allow people to apply for this visa.  Smelling something rotten in Denmark, I told them that they could consult with another immigration lawyer. 

So beware.  Know that if you are applying for this kind of visa, that your application will be closely scrutinized.

As an aside, the article gets some of the legal facts wrong.  To be clear, if the visa is granted, the person gets 2 years of conditional permanent residency.  All that means is that the immigrant has to apply to lift conditions before the end of the two years, or the visa expires.  This is much like the marriage visa when you have a very young marriage.

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