A broadcast from Fox news on the EB-5 visa program with a story from Miami, as well as an interview with a local immigration attorney. The story features EB5 immigrant investor Jose Rodriguez who came from Venezuela and purchased Casa Potin Bakery in Miami (Hialeah) and used the EB-5 investor visa program as a ?fast track? to obtain a green card.
The Fox reporter, Phil Keating, says people who are familiar with this program say that this is a ?fantastic way to get much needed capital into the U.S. economy and also create jobs. The trade-off is a lot less wait time for that green card.? Keating states that Rodriguez came to the U.S. on the investor visa, bought the bakery and obtained his green card in four years as opposed to the 12 years or more that it would usually take.
The story then features a short interview with immigration attorney Randal Sidlosca who describes the benefits of the program, in particular how sensible it is for foreign investors to invest here in the United States and also to create American jobs. According to South Florida realtors, wealthy foreign investors are twice as interested this year from last as there is a ?fire sale? on American assets, in particular, commercial and residential real estate, and that potential immigrant investors are coming to South Florida predominantly from Europe and South America.
There was no discussion of the passive, or ?Pilot? EB5 visa program option, or of EB-5 visa regional centers, only the stand alone, active investment of $1 Million dollars, Keating did state that USCIS does have the ability to issue 10,000 EB5 immigrant investor visas, but that typically only about 1,000 ever get issued. He stated that the reason for this is that the program is not that widely known and that the program is not yet permanent, but that there were efforts underway to lobby Congress to make the EB5 immigrant investor visa program permanent.