At a Beijing event that was mostly kept a secret on Saturday, the sister of Trump’s son-in-law Jared Kushner tried to lure into the U.S. wealthy Chinese investors with a unique “investor visa,” on the condition they started pouring money in one of the family’s real estate projects in New Jersey.
Kushner’s sister told a room full of wealthy Chinese investors that they would have a bonus to the return of the investment: they would be able to get a particular type of visa to the United States. But the visa comes at a hefty price: a $500,000 investment.
Invest $500,000 and immigrate to the United States,
the Kushners wrote in a brochure for the event.
A Highly Controversial Visa Program
The hours-long event’s goal was to raise money for the family’s real estate development in The Garden State. The family thought that their offer would be more alluring if they attached the special offer to it. The Chinese residents were promised to enter the U.S. under the EB-5 visa program, a highly controversial program that was designed to beef up the economy by encouraging foreign investment.
Under the program, a non-citizen has to make a minimum investment of $1 million to get the visa. But the location picked by the Kushners in New Jersey is a Targeted Employment Area (TEA), which means the bar can be lowered to $500,000.
The EB-5 program, on the other hand, has stirred criticism for lacking proper oversight. According to a 2015 report from the Government Accountability Office, the federal government didn’t have enough tools to spot potential fraud or assess its impact on the country’s economy. Sen. Patrick Leahy (D- VT), who once championed for EB-5, recently called the program a “magnet for fraud.”
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