Arghhh.... guess one can't complain about buildings in the US named after a Chinese dictator we are in a cold war with when our president has his own Towers in foreign nations.
The XI's Travertine Façade Continues Installation in Chelsea - New York YIMBY
But it does make me wonder how many Chinese national commies got green cards expedited through Trump's favorite EB-5 program. Ill give Trump props for reforming the program and increasing the money needed to buy citizenship, but that doesn't mean I forget history and his "loving the program". He is also the only reason it is still alive. Many other elected officials realized this program had become a loophole of injustice and were going to rescind it altogether. Trump simply raised the amount of money it takes to buy citizenship so others would think he's fighting against it and then it was allowed to continue. If it wasn't for EB-5 many of Trump's and Kushner's recent developments would not have been able to get off the ground let alone completed without cash for visas from China.
By the time he reformed it some say he was already in bed with China heavily and that it was only reformed after he was catching flack for "Green cards for cash", "Golden Visas" and "US citizenship for sale". That started back in 2016 when he was using this program to get rich commies Visa's when they funded over 25% of his "Trump Bay Street" building. He's also used this same program multiple times in the past for other buildings and I posted about them back then. Some would say that's good business....others call getting into bed with the enemy treason. To each their own and my biased story should tell you what side I'm for.
“
This was never intended to be government-sanctioned welfare to the high-profile real estate industry in the major cities of America, but it evolved into that after the meltdown of 2008,” said William Cook, former general counsel of the U.S. Immigration and Naturalization Service under George H.W. Bush when the EB-5 program was created. “This is money developers were able to raise that didn’t come by the normal process.”
According to IIUSA, since 2008, more than $37 billion of foreign direct investment has flowed into the U.S. as a direct result of EB-5 investment.
- EB-5 does not require the applicant to hold a Bachelor’s or higher degree.
- EB-5 applicants do not have to work in specialty fields.
- EB-5 applicant’s conditional permanent residency is not dependent upon employment. It is only dependent upon I-526 petition approval, whereas H-1B visa holders must continue working for their employer to maintain H-1B status.
- If an H-1B applicant is terminated from their employment, they must leave the United States. USCIS may allow H-1B holders to change their status to another non-immigrant visa, but it can cause issues.
- EB-5 can be a faster path to applying for citizenship.
- EB-5 investors can live, work, and go to school anywhere in the U.S. They do not have to live by their investment and they do not have to be involved in the day to day management of their investment if they do not wish to.
- An investor’s spouse and unmarried children under the age of 21 can all qualify for green cards under the EB-5 investor’s application.
- Family members can gift an EB-5 applicant the funds required to invest in the EB-5 Program.