EB-5 And Its European Counterpart Subject To Expected Changes, Oversi

In June 2018, Congress held a hearing on “Citizenship for Sale: Oversight of the EB-5 Investor Visa Program.” The current EB-5 program allows wealthy individuals to apply for and obtain green cards by investing anywhere from $500,000 to $1,000,000 in U.S. enterprises. Like any other green card holders, after five years, the beneficiaries can apply for citizenship. The title of the hearing reflected Congress’ concerns about EB-5 program: fraud, abuse, and national security risks related to the program. At that hearing, L. Francis Cissna, Director of USCIS, explained that legislative reform was necessary, but in the meantime USCISwas taking steps to improve the integrity of the program:

Source: https://www.jdsupra.com/legalnews/eb-5-and-its-european-counterpart-94044/