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US immigrant investor scheme is becoming big business

It is a popular source of capital for hotel and mixed-use real estate projects in California, New York, Florida, DC

Published Wed, Jul 1, 2015 · 09:50 PM

Washington

WHAT began as a rarely used path to US citizenship for wealthy foreigners has become big business in American real estate, one that Congress is considering for reform.

The EB-5 immigrant investor programme allows citizens of foreign countries to acquire US visas by investing a minimum of US$500,000 into American businesses as long as the money creates at least 10 jobs.

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