AFP, BEIJINGWhite House senior adviser Jared Kushner’s family business is courting wealthy Chinese to buy stakes in real estate through a controversial government program that offers US residency in exchange for investment. However, eyebrows have been raised as the Chinese investment sought by his family is to be funnelled through the US EB-5 visa program. The program offers foreign nationals permanent residency — commonly known as a green card — in exchange for investments of at least US$500,000 in a US business that must also create 10 US jobs. The EB-5 program was created in 1990 to help stimulate the US economy through job creation and capital investment from foreign nationals, but detractors say it puts US citizenship up for sale. Nearly 90 percent of EB-5 visas were issued to Chinese nationals in 2014, when the program reached its quota of 10,000 visas.

Source: Taipei Times May 07, 2017 17:10 UTC