China’s creating, not stealing, US jobs; See the EB-5 visa
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President Trump’s recent travel ban executive order and the xenophobic rhetoric that peppered his campaign show that anti-immigrant sentiment is running high in America. Trump and his followers believe that immigrants and China are stealing American jobs. Well, I want to talk about the investor immigrants, the vast majority of whom are Chinese, who are coming to the US to create jobs. Under EB-5 program, foreign investors who meet strict criteria regarding the amount of money they invest and full-time jobs they create can apply for a green card and become permanent residents of America.
The EB-5 program was created by congress in 1990 for the purpose of stimulating the US economy. In order to qualify, applicants must invest in a new commercial enterprise, as well as create jobs for US workers. The specific requirements are as follows:
Invest US$1 million, unless in a High Unemployment or Rural Area, in which case US$500,000 is sufficient
Create 10 full-time jobs for qualified US workers within a two-year period [or preserve ten such jobs in a Troubled Business (defined as an enterprise that experienced a net loss of 20% of its net worth during the last year or two)]. Qualified workers include US citizens, permanent residents, and other immigrants authorized to work in the US. This does not include the immigrant investor or their family members. Once the immigrant investor has arrived, they and their family are granted conditional permanent resident status for two years. Upon completion of those two years, they can petition to have those conditions removed and become permanent residents. To do so, they must provide tax documents, business licenses, contracts, bank statements, etc. to prove that their investment is meeting the standards outlined above.You can read more about the EB-5 visa at the United States Citizenship and Immigration Services’