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The EB-5 requires starting a company and employing 10+ at >$50k/yr, meaning it costs $500,000+. Do you honestly think the H1B visa will bid higher than $500k/y
by bduerst 10y ago
The EB-5 requires starting a company and employing 10+ at >$50k/yr, meaning it costs $500,000+. Do you honestly think the H1B visa will bid higher than $500k/yr for base pay for the employee?
The lottery evenly distributes amongst the positions based on demand. By switching to wealth, you're creating a system that only the highest-paying job categories will prevail.
- vostok 10y agoI am in an immigrant community where the EB5 is used. It does not cost $500k/year and it is an investment rather than a expense so it is not all comparable to the H1B program.
- bduerst 10y agoWe're referring to what it would cost for bad actors to abuse the system. Someone was saying that switching to a biddable H1B visa would solve problems because it's just like the EB5.
- gorkemyurt 10y agoThat's one way of doing it. But most of the people use a regional center [1] to park the $500k is a big real estate project like Hunter's Point Shipyard in SF or Hudson Yards in New York with no additional yearly cost. [1] https://www.uscis.gov/working-united-states/permanent-workers/employment-based-immigration-fifth-preference-eb-5/immigrant-investor-regional-centers https://www.uscis.gov/working-united-states/permanent-worker...