Since 2004, more than 2,000 wealthy foreign investors aiming to live legally in the U.S. have pumped $1.4 billion into 40 Philadelphia-area projects in exchange for EB-5 visas
Since 2004, more than 2,000 wealthy foreign investors aiming to live legally in the U.S.in exchange for EB-5 visas, which allowed investors and their spouses and children to immigrate in exchange for $500,000 or more.
Nationally, more than 100,000 of these visas have been issued, raising more than $70 billion, since an early version of the program debuted in 1992. The vast majority were delivered in the 10 years ending in 2020, when the program stalled as the pandemic hit and Congress pushed for changes.How rich immigrants won U.S. residency by investing $1.
Two-hundred EB-5 visa-seekers pledged a joint $122 million in crucial, cheap financing for the Pennsylvania Convention Center. The project eventually cost $800 million, making it the most expensive building in state history.One of the applicants was a family member of Chun Doo-hwan, the last military dictator of South Korea. According to a money-laundering lawsuit filed by U.S.
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How rich immigrants won U.S. residency by investing $1.4 billion in Philly projectsSince 2004, more than 2,000 foreign investors have pumped money into Philadelphia in exchange for EB-5 visas, which allow them and their families to immigrate to the U.S.
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