Jupiter project lures investor with promises of citizenship

[AlphaCentauri]

Source: The Palm Beach Post

The developer of Jupiter's waterfront Harbourside project has found a way to gain desperately needed cash: a federal program that lets foreign nationals gain U.S. citizenship in about two years in exchange for their $500,000 investment.

Developer Nick Mastroianni says that because American banks are not lending money, he has to go to China and South Korea to finance the $150 million hotel/marina project. And that's where the federal EB-5 financing program comes in.

The program allows foreigners, their spouses and children younger than 21 to win U.S. citizenship by investing money in projects in the United States. Each investment must create 10 direct or indirect jobs in two years.

"China is economically strong. We are weak. I go there because the investment money here has dried up," said Mastroianni, 47, an Abacoa resident.

But not everyone thinks EB-5 is such a good idea.

Linda Sartori, who lives near the prospective development, said it's unfair to let affluent foreigners cut to the front of the citizenship line.

"Under EB-5, my grandparents would not have made it here," said Sartori, whose grandparents were Italian immigrants. "We shouldn't let money determine if you can come to America."



Read more: http://www.palmbeachpost.com/news/jupiter-project-lures-investor-with-promises-of-citizenship-1158591.html

[FreakinDJ]

1. Financial Investment is a REQUIREMENT in most 3rd World countries

Glad to see the US is finally catching up to most other 3rd World Countries

[AlphaCentauri]

5. Not really

WORK PERMIT IN MEXICO

The prospective employer in Mexico must submit a work permit application to the appropriate labour authorities in Mexico. Upon acceptance of the complete application package the Institute of Immigration (INM) will analyze the case and issue a final resolution in 30 to 45 days. Once the application is approved the employee will have 90 days to 6 months (depending on each case) to appear before the Mexican Consulate with jurisdiction over his/ her place of residence to request the visa. The visa is issued in 3 to 4 days from the time the application is filed at the Consulate.

"Regularization" of immigration status from Visitor status to Work Status

A foreign national employee may convert his or her immigration status from a visitor status to work status while remaining in Mexico. The employee can be present in Mexico while the work permit application is being processed; however, the employee will have to wait until the work permit application is filed at the INM to be able to start work. In these cases, once the work permit application is approved, the employee MUST make a personal appearance at the INM to obtain his/her FM-3 immigration document.

Types of Work Visas

The major types of Mexican employment visa categories are as follows:

A) FM-2 Visa – For foreigners who have family ties to Mexico or have work in the country over 5 years;

B) FM-3 Visa – For foreigners who will be paid locally, import household goods or transfer to Mexico with family members.

[provis99]

2. now we know what American citizenship is worth: $500,000.

[truthisfreedom]

3. Obama's got that much. He should just cough it up to shut up the birthers.

*sarcasm*

[liberation]

4. It used to be $1,000,000 a couple decades ago. So it is getting cheaper.

Plenty of people where I grew up in SoCal got their citizenship via investments in the USA. It is nothing new, I have some very good friends whose parents back in Taiwan can't speak a lick of English, or have spent a significant amount of time in this country for that matter, and have US passports.

[bluedigger]

6. Too bad you can't sell it.

I'd let someone buy me out for half a million. I'm pretty sure I could retire comfortably somewhere else with that kind of moolah.

[Hawkowl]

7. +1

Sign me up for that!

[customerserviceguy]

9. No, only government can sell citizenship

Sometimes, they give it away for votes.

[groundloop]

8. I'd never heard of this before. Figures that if you're rich you can get in....

Everything else is tilted to the wealthy, so why not citizenship as well?

[Synicus Maximus]

10. EB-5 does not grant citizenship. It grants permanment resident

status (green card) not citizenship.

"Entrepreneurs (and their spouses and unmarried children under 21) who make an investment in a commercial enterprise in the United States and who plan to create or preserve ten permanent full time jobs for qualified United States workers, are eligible to apply for a green card (permanent residence).
Up to 10,000 visas may be authorized each fiscal year for eligible entrepreneurs.

You must invest $1,000,000, or at least $500,000 in a targeted employment area (high unemployment or rural area). In return, USCIS may grant conditional permanent residence to the individual."

http://www.uscis.gov/portal/site/uscis/menuitem.eb1d4c2a3e5b9ac89243c6a7543f6d1a/?vgnextoid=cf54a6c515083210VgnVCM100000082ca60aRCRD&vgnextchannel=cf54a6c515083210VgnVCM100000082ca60aRCRD

[no limit]

11. If we could just get a couple mexicans with $500,000 the GOP will be up in arms over this.

[Tunkamerica]

12. Seems like a lot of money to live on a gas giant

[Capitalocracy]

14. Airfare not included. nt

[Capitalocracy]

13. Meanwhile my wife can't move with me to the U.S.

and we're stuck in Argentina. Why? Because I don't meet the financial requirement to sponsor her as an immigrant spouse.

But it's the gays we need to protect the sanctity of marriage from. :eyes: