US immigration clamps down on 'cash for visas' programme
February 28 2012 by Christina
Immigrating to the US has become a tad tougher than it previously was. The unrestricted leeway for the elite to immigrate to the US and eventually become a US citizen has been blocked.
A recent report in The Daily has asserted that the US immigration department has clamped down on the so-called ‘cash for visas' green card system.
The controversial EB-5 visa programme used to allow people to gain an entry to US in exchange for princely investments between $500,000 and $1 million. Under that clause, after two years, the investors must be able to validate that their investment successfully created at least ten new jobs. On establishing this, the investors were entitled to become US citizens.
This scheme was criticized by some for allowing the crème de la crème to be where they were, on the top. Also, the rich buying their way into the US was frowned upon by many, with the exception of the ones in the construction industry who wholeheartedly supported the endeavour. The developers, interestingly, claim that the EB-5 investments are the only cash available to them at the moment.
The US immigration service, dismal with the current state of the affairs, has issued a warning that they are employing stricter standards for handing out the EB-5 visas. This move was the result of their surveillance that noticed a lack in creation of new jobs by the investors.
The US immigration service's scrutiny brought to light the fact that the investor projects such as office buildings and retail sites often don't actually create new jobs, but instead simply create new buildings for existing jobs to move into.
In lieu of their tough stance, the immigration service has increased the number of rejections for developments under the scheme, since the past three months.
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