US Sells Citizenship to Investors from Communist China

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Eb51

We sell our jet technology to China and have facilitated China stealing our secrets, we are giving away our drilling and mineral rights, our space program is ceded to Russians and Chinese, and the list goes on. We have another giveaway – a visa program that sells citizenship. This could be different…or not.

If you want to come to the US, get a green card, and have citizenship, you can do it with an EB-5 visa.

An Orlando soccer team is promising visas to any foreigner who wants to invest $500,000. The twenty-five year old visa program is being used to sell permanent residency and citizenship. Some of the people are communists from nations like China.

All “investors” really have to do is buy a house. Senators Schumer and Lee wanted to encourage investment in our ailing housing market with this program under a bill several years ago.

The congressmen who support an extension of EB-5, Chuck Schumer, Jeff Flake, John Cornyn and Pete Sessions, have ties to the industry that benefits the most from it – the real estate industry. They all received major donations from the industry.

EB-5 investors obtain permanent residency through the program and have the option to apply for U.S. citizenship 90 days prior to the five year anniversary of receipt of their conditional resident status.

The majority owner of Orlando City Major League Soccer, is asking investors from Brazil, China and elsewhere to pay $500,000 each for a stake in the stadium he is building near downtown Orlando. In return, the foreign investors receive annual dividends, two season tickets and something even more valuable: a green card that allows them, their spouses and sometimes even their children to live and work in the United States, eventually gaining citizenship.

The visa offer is legal, and it uses a 25-year-old federal program, known as EB-5, that is under renewed scrutiny in Congress but nothing ever gets done there as we know. The sum of $500,000 was a lot more significant in 1990 and the program needs overhauling, starting with an increase in the amount of investment and stricter rules on jobs created. It was meant to create jobs but is being transformed.

An investor in Massachusetts is using the EB-5 visa program to help finance enterprises from hotels to sports arenas to condominiums.

No one really cares much that this could pose a potential national security nightmare.

Every year, the United States gives out thousands of green cards to mostly wealthy, influential Chinese businessmen who are in some cases planning to build self-sufficient cities.

To become wealthy and powerful in China, you must be a member of the Communist party.

Asian immigrants have been outstanding contributors to U.S. society, however that doesn’t mean we want Chinese Communist millionaires buying their way into citizenship. Others say it’s merely sustainable Capitalism.

On the plus side, it is a way to employ U.S. workers, stimulate the economy and create funding for American businesses. The State Department claims the program has generated $8.6 billion in investment and created more than 57,000 jobs since 1990.

EB-5 applications have surged more than eightfold since 2008; over the past decade, the program has attracted about $6.5 billion to hundreds of projects across the country and supported more than 130,000 jobs, according to trade groups.

EB-5 requires a $500,000 investment, perhaps far less, and the creation of 10 jobs, and perhaps not. Investors are given a fast track to a green card and citizenship. The investors are mostly doing it to get green cards.

Every year, thousands of wealthy investors, mostly rich Chinese, are given green cards. Since any wealthy person in China must be a Communist party member, it means we are admitting Chinese Communists.

There have been scandals associated with the program – swindlers defrauding potential investors, and visas going to people with criminal histories, all beneath regulators’ noses. They can get the green cards without actually creating jobs and the program is in need of reform.

Congress allowed regional centers to count the number of indirect jobs their project might create, rather than just direct jobs. The investors could get away with projecting potential jobs and now 95% are given to investors in regional centers.

The government talks about revising this but new regional centers were improved as recently as September of this year.

The “Targeted Employment Area” section of the law requires some portion be assigned to help poor, undeveloped areas but it’s very loosely defined.

China City of America which has been in the works for years and first came to the public’s attention in 2013, is only one of many of these projects. They are struggling a bit because investors want to be certain that the Central government in China is backing it.

It’s not like Chinatown. These are members of the Communist Party buying up property for settlement.

Senators Grassley and Leahy are trying to reform the program.


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