The controversial and corruption-ridden EB-5 Visa program is how most wealthy Chinese National secure American citizenship, receiving a green card in exchange for investing several hundred thousand dollars into an U.S.-based business. It has come under scrutiny, however, for being part of a Chinese Communist Party (CCP) scheme to grant residency – and access to American enterprise – for party members.
As Representatives Jim Jordan and Guy Reschenthaler of the House Judiciary Committee noted, “Although the EB-5 program’s goal of stimulating capital investment and job creation in the United States is laudable, it has become clear in recent years that the CCP may be abusing the program to gain access to U.S. permanent residency for their members.”
CITIZENSHIP FOR SALE.
To China’s dismay, however, the EB-5 waiting list is notoriously backlogged. In some cases, by nearly two decades.
China has devised a scheme to circumvent the long wait:
- Chinese nationals pay $200,000 – considerably less than the EB-5 $500,000 minimum – to secure citizenship for themselves, their spouse, and children on the island of Grenada;
- Exploiting Grenada’s E-2 Visa program, Chinese nationals invest in a business that meets E-2 requirements in the U.S. – which demands less money, time, and effort than the EB-5 process;
- The Chinese nationals – legally Grenadian – then move to the U.S. and renew E-2 visa until the EB-5 Visas become available.
And now, Congress is working to export the scheme to Portugal, broadening the avenues which Chinese nationals – and perhaps party members – can exploit for citizenship.
Section 1755, of the National Defense Authorization Act (NDAA) aimed at fiscal year 2021’s defense spending, would allow Chinese nationals to enter the U.S. via an E-2 Visa from Portugal, following the aforementioned steps.
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https://thenationalpulse.com/exclusive/china-visa-loophole-threatens-america-first/
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