In Reply to: Trump is selling America like crap Trump Swag posted by Dr.J on February 25, 2025 at 17:35:02
For over 30 years, wealthy foreigners could obtain a green card for $1 million through the EB-5 visa program.
The idea was to award green cards to overseas investors who invested a million or more in new businesses in the United States. The idea was to encourage people to come to the U.S. and start their own business. Money and labor, right?
But the program also allowed middlemen who would aggregate the investments and then direct the money to new businesses. It is sort of like investing in a REIT, except the enterprise could be any kind of a business. The middlemen handles all the paperwork and verifications that the EB-5 program requires. The foreign investor literally writes a check and then, when all the details were confirmed, receives their green card. The investor doesn't have to involve themselves in operating any business; it's an entirely passive investment.
Much of this money has been directed to the renewal of urban centers, including the celebrated revival of downtown L.A.
In a lot of cases, the investor really doesn't care how the money is invested--or expect any return. Their interest is money for a green card.