Kushners tap China’s $24 BILLION ‘golden visa’ market that lets foreigners get green cards by investing in the US
- The EB-5 program gives foreigners green cards if they invest $500,000 in the US
- That investment must also create or save at least ten American jobs
- The US has made $7.7b in the past decade from Chinese investors alone
- All countries that offer similar programs have made $24b in total over 10 years
- But critics say it’s open to corruption, with $1b linked to fraud in the past 5 years
- And they complain that it only helps big businesses, not struggling communities
- Jared Kushner’s family apologized after their EB-5 pitch included mention of him
- Their presentations also featured footage of Donald Trump
When Jared Kushner’s sister promoted investing in her family’s new skyscraper from a Beijing hotel ballroom this month, she wasn’t just raising money for her business.
She was also pitching a controversial visa program used by the US and other countries that’s made $24 billion from China worldwide over the past decade.
Known as ‘golden visa’ programs, they promise residency to any foreigners who invest a substantial amount of money in a business – provided that it results in a certain number of jobs in the being created or saved in the host country.
The American version of the program has resulted in US green cards being issued to more than 40,000 Chinese in the past decade.
Nicole Kushner Meyer came under fire after a ‘golden visa’ pitch earlier this month featured President Donald Trump – her brother Jared Kushner’s father-in-law and boss.
It also included vague promises that the project had ‘government support’ and was ‘founded by celebrity developers.’