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Chinese Investment in exchange of EB-5 Visas

Trump’s son-in-law Jared Kushner’s family is soliciting wealthy Chinese clients to buy stakes in real estate through a controversial government program that offers US residency in exchange for investment. Jared Kushner is the White House Senior Advisor. This comes at the time when U.S. has tightened the issue of visas especially the H1B Visas which has already created a discontent among the corporate houses that has employed expatriate employees in the U.S.

Kushner’s sister Nicole Kushner Meyer was in Beijing on Saturday. She wanted the wealthy Chinese to invest USD 150 Million in a luxury apartment complex project in New Jersey in exchange for US EB-5 visa program which offers the Permanent Residency viz Green Card for those who invests half a million dollars along with creating 10 jobs for Americans. The Visa program was created in 1990 for Job creation and capital investments which has however been misused since these were put up for sale. It is also to be noted that in 2014, nearly 90% of the EB-5 visas were issued to Chinese nationals.

Nicole Kushner Meyer said the project “means a lot to me and my entire family”. It is expected that the firm owned by Kushner’s family is expected  to pitch for investment in Shanghai on Sunday and in the southern Chinese cities of Shenzhen and Guangzhou over the next weekend, according to the events’ organiser QWOS, a Chinese government-approved immigration agency.

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