With the recent serious issues regarding the immigration aspects in the world, the EB-5 Program or the Investment Immigration Program encourages the foreign nationals for investments in commercial enterprises of the USA. For qualifying, the investors will need to have the experience of preserving or creating at least 10 jobs based on full time, with a total amount of minimum $1 million, and half the same in case of specific areas.
Not just the foreign investors, but the program is also useful as a capital source for the domestic business owners. George Olsen, having the experience to work on $228 million of finance of the program for Atlantic Yards project in Brooklyn, New York; said that the program is at present gaining recognition. Two projects having the base at Manhattan are on the verge of finalizing a deal with US EB-5 program for the required raise of $260 million.
According to a 2010 study by USCIC, the field of the real estate has become one of the top choices for the investors of late. The same study expressed that the EB-5 program, at present, has now become global, by serving the nationals of more than 30 countries with US permanent residency.
On the other hand, criticism has also played a large role against US EB-5 program in various instances. The Illinois based Anshoo Sethi was indicted by SEC or the Security and Exchange Commission. The incident involved the misleading of 250 Chinese investors for financing a hotel-cum-conference center, which is yet to receive project clearance. Abbas Hashmi, the firm owner of Green Card Capital of Long Island, has raised questions on whereabouts of the money related to the program, giving birth to various fraudulent behavioral acts of the EB-5 program.
Despite the mentioned issues, US EB-5 program is able to live up to its potentials, with the aim to generate about 40,000 jobs per year, with the base of $4 billion investments.