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The Champion

September-October 2017 , Page 32 

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EB-5 Visa Fraud Cases — What Practitioners Need to Know

By William A. Haddad

The EB-5 Immigrant Investor Program (the “EB-5 Program”) is among the most controversial and maligned entry programs for foreigners seeking permanent residency (green card) status. Created in 1990, the purpose of the EB-5 Program is to stimulate the U.S. economy through job creation and capital investment by foreign investors.1 From 2012 through 2015, the U.S. Citizenship and Immigration Services (CIS) estimates that the program has brought $8.7 billion in foreign capital into the country and created 35,000 jobs.2 

In its first 25 years of existence, the program was undersubscribed. In recent years, however, there has been overwhelming demand for the approximately 10,000 slots. Most of the applicants are Chinese nationals, hoping for EB-5 status not only for themselves but for their spouses and children (eligible up to age 21).

How the Program Works

The EB-5 Program requirements are fairly straightforward. CIS grants conditional permanent residency status for two years

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