Archive for February 10th, 2014

Babies or Purchase: Rich Chinese Want to Become Americans, Part 2

posted by Ida B. Wells IV @ 15:35 PM
February 10, 2014

Chinese-banner_eb5    Another way Chinese nationalists can become American citizens is the relatively unknown State Department ‘buy citizenship’ program for million/billionaires from around the world. Most taking part, however, are from China.

James O’Toole of CNN Money writes: “Under the government’s EB-5 Immigrant Investor program, foreign investors can get conditional visas that allow them and their families to live, work and attend school in the U.S. To qualify for the visa, they must invest at least $1 million in a new or recently created business, or $500,000 for businesses in rural or high-unemployment areas.”

The State Department expected 6,000 ‘investor visas’ in the 2012-13 fiscal year.  “Our goal is certainly job creation, and that’s what this program is all about . . . it’s allowing somebody from a foreign country to come and invest in our nation,” says Bill Wright of U.S. Citizenship and Immigration Services.

Investors must prove they created or preserved 10 full-time jobs for U.S. workers over two years. Once established, investors and their families move to permanent resident status, and can apply for full citizenship in three years.

A study from the Center for China and Globalization and the Beijing Institute of Technology reports: “150,000 Chinese––most of them wealthy––emigrated to other countries in 2011. While that number may not seem high for a country of more than a billion people, the flight of China’s richest––and the offshoring of their fortunes––could cost the country jobs and economic growth.”

The Wall Street Journal estimates some $ 225 billion flowed out of China in 2012. CNBC Reporter, Robert Frank establishes:  “The United States was the top destination for wealthy Chinese in 2011, according to the report. Canada and Australia came second and third.

“The United States had granted 87,000 permanent resident permits to Chinese nationals in 2011. Of those, 3,340 P1-BK739_EB5_jm_G_20130318181804were approved through special investment visas, which allows wealthy foreigners to apply for American citizenship if they agree to invest more than $500,000 on job-creation projects. The program has become largely Chinese, with more than more than two thirds of all of the visas granted going wealthy citizens of mainland.”

Seattle Times reporter Sanjay Bhatt reveals: “China’s superrich, who have historically been drawn to San Francisco, Los Angeles and Vancouver, B.C., are investing in Seattle-area real estate in growing numbers, buying multimillion-dollar homes, rent-producing properties and land for commercial development.”

In a copious article, she establishes:  1) Chinese purchasers pay all cash, even for purchases over $ 2 million; 2) They quickly squeeze out other buyers qualifying for financing or offering lower prices; 3) They sometimes pay hundreds of thousands more for properties than the original listing price; 4) The number of Chinese buyers has increased as much as 50% since 2007, etc.

Like we said in Part 1, ‘kudos’ to this nation’s politicians who opened trade talks years ago in order to make China richer and Americans poorer.  If that was their goal, they surely accomplished it.  Now let’s go out and vote for them again, so they can give away what’s left of the good ‘old’ U.S.A.!

Once again proving ‘we are all equal’ Communism fails, and Capitalism which sells out its own country is on the verge of failing also.  As for the creators of the EB-5 investor immigration program, wholesale Christian books explains:  “Professing themselves to be wise, they became fools (Romans 1: 22)”

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