Dubbed “the golden visa” by Chinese investors, the EB5 immigration program is taking front and center stage in light of a promotion undertaken by the family company of Trump’s top White House adviser and son-in-law, Jared Kushner.
Kushner Companies has successfully motivated some of China’s wealthiest to invest in Kushner1, a U.S.-based commercial real estate project.
After the minimum investment is met, EB-5 recipients are entitled to apply for or enlist the help of a corporate immigration lawyer to obtain green cards. There’s little room for error with only 10,000 golden tickets available world-wide, each year.
Trump’s repeated vows to restrict immigration, as well as increased legislative examination of the EB5 immigrant program, have encouraged the wealthy to speculate about its possible demise.
Invest $500,000 and Immigrate to the United States
The high-rise project luring Chinese investors is located in Jersey City. It’s a luxury skyscraper apartment-complex called One Journal Square. Prior to 2016, the company had not used the EB5 visa provision to woo wealthy investors.
Cue the Kushner Companies’ elite promotion, held in a Beijing Ritz-Carlton ballroom.
Eager attendees were provided promotional materials explaining the Kushner skyscraper investment. One handbill boasts that the project enjoys “stable funding, creates sufficient jobs and guarantees the safety of investors’ money.”
A slide-show reinforced key American political players, one in particular displayed a picture of President Trump, pointing to him as an important decision maker in the evolution of the EB-5 visa program.
Furthermore, company principal, Nicole Kushner Meyer, introduced herself to potential investors as Jared Kushner’s sister, explaining that her brother had vacated his interests in the family venture to take up his position as top adviser to the President.
Now investors are queuing up to pitch-in a combined $50M+ to invest in Kushner Companies.
Despite this, potential investors were advised during the promotional event to seek the advice of a corporate immigration lawyer quickly because it’s still possible for policy-makers to consider major changes to the EB5 program in late 2017. For example, they may raise the minimum required investment from $500,000 to $1.2M or more.
A Safe Gamble?
The pitch sold two degrees of confidence for investors and EB5 applicants. First, Kushner Companies is no mediocre corporation to invest with. A wealthy foreigner would only find a more captivating investment with the President himself. Second, what bureaucrat will be unpunctual when eyeing a Kushner Companies application, properly submitted by a knowledgeable corporate immigration lawyer?