Real Estate Blog

From the New York site: A lot foreign investors tried to clamber aboard the EB-5 train in 2015, fearing it would leave the station.

The number of applications for the controversial investments-for-visas program climbed to just under 17,791 in 2015, up from just over 11,744 in 2014 and 6,554 in 2013, according to U.S. Citizenship and Immigration Services.

The EB-5 program grants visas to investors who contribute at least $500,000 to projects in the U.S. that employ 10 workers or more, with a preference for areas with high unemployment.

A total of 21,988 applications were pending at the end of 2015, at least a five year backlog for most investors, who usually seek several visas for family members, the Wall Street Journal reported.

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