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> All in all, Related solicited investments from some 3,200 foreign visa-seekers. This figure is significant, since the number of new visas that the U.S. issues
by btown 8y ago
> All in all, Related solicited investments from some 3,200 foreign visa-seekers. This figure is significant, since the number of new visas that the U.S. issues each year under EB-5 has a hard cap of 10,000. Given that each eligible investor may claim visas for immediate family members—and since these family visas (an average of three) also count toward the overall cap—the Hudson Yards development may have easily claimed an entire year’s worth of visas issued under EB-5.
- deleted 8y ago[deleted]
- DuskStar 8y agoAnd why on earth would those EB-5 visa holders have invested in low-income housing? Nothing in the visa requirements description seems to mention 'low-income', 'distressed', 'economically disadvantaged' or anything of the sort. [0] Here: > All EB-5 investors must invest in a new commercial enterprise, which is a commercial enterprise: > Established after Nov. 29, 1990, or > Established on or before Nov. 29, 1990, that is: > 1. Purchased and the existing business is restructured or reorganized in such a way that a new commercial enterprise results, or > 2. Expanded through the investment so that at least a 40-percent increase in the net worth or number of employees occurs The closest thing is how it specifies amounts - $1m in general, or $500,000 in rural or high unemployment areas. Which is closer, but still doesn't require low-income housing... 0: https://www.uscis.gov/working-united-states/permanent-workers/employment-based-immigration-fifth-preference-eb-5/about-eb-5-visa-classification https://www.uscis.gov/working-united-states/permanent-worker...