The EB-5 Visa provides a method of obtaining a green card for foreign nationals who invest money in the United States. To obtain the visa, individuals must invest $1,000,000 in normal circumstances or at least $500,000 in a Targeted Employment Area (a high unemployment or rural area), creating or preserving at least 10 jobs for U.S. workers excluding the investor and their immediate family. -U.S. Citizenship and Immigration Services.
The controversial program has provided Sugarbush resorts with $20m needed to finish a series of planned refurbishments. 40 investors from Canada, Mexico, Europe and Asia were required (at $500k per investor) to raise the sum, of whom the 18 who meet the minimum 5-year EB-5 investment requirement and have already accepted a cash/real estate deal by Sugarbush as repayment/exited the program.
The program is accused by critics of "allowing foreigners to buy their way in to the US". Which is strange because on the face of it at least, that's a bit like accusing the sea of being wet. Indeed the investors aren't even buying anything, they're loaning businesses money.
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