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Topic: Lure of Green Cards Brings Big
Investments for Remote
Resort in Vermont |
Lure of Green Cards Brings Big
Investments for Remote
Resort in Vermont
New York Times, by Katharine Q. Seelye
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Original Article
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Posted By:LittleHoodedMonk, 12/31/2012 4:04:55 PM
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| Jay Peak, Vt. - At this remote outpost by the Canadian border, Bill Stenger is overseeing what he says is the biggest economic development project that Vermont has ever seen. (Snip) But even more unusual than the size of the undertaking is the method by which Mr. Stenger and his business partner, Ariel Quiros, are financing it. They have tapped into a federal program that gives green cards, or permanent residency, to foreigners who invest at least $500,000 in an American business — the reward for the investment is a chance at United States citizenship.
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Comments:
So, if you wonder what the dRATS are doing about stealing jobs needed for the American public now and getting tax benefits to become ´´millionaires," look at this article. This will be the next playground of the "rich." Who will picket them? Imagine Al Qaeda buying in. Hmmm.
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Reply 1 - Posted by:
crimea river, 12/31/2012 4:12:35 PM (No. 9091929)
Investors must put up $1 million for a visa, but if they invest in a rural area or one with high unemployment, that is reduced to $500,000.
I´ll wager that amount is not indexed for inflation, so expect the number of visas to explode as the dollar approaches reality. That said, unless they´re investing in greendoggles, I´m okay with this.
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Reply 2 - Posted by:
Spidey, 12/31/2012 4:38:42 PM (No. 9091956)
$500,000 is chump change for Pakistanis.They carry that much around in suitcase.They not only have tons of upfront money but plenty of cushion money if the business doesn´t take off right away.I knew a woman who ran a mall kiosk and had very poor revenues but the Pakistan owner was always out buying new stock even though it wasn´t selling.They have a feeding tube back to their own country and it wouldn´t surprise me if foreign aid gave them the resources.
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Reply 3 - Posted by:
bighambone, 12/31/2012 5:49:42 PM (No. 9092072)
If those rich foreigners enter into a good and profitable investment, they will get both their money back and permanent residency (A green card) and eventually US citizenship, you can´t beat that. The only problem is programs like that are wide open to big time fraud once a lot of foreigners start applying.
Most of those rich foreigners probably won´t even go through the entire US citizenship process that takes over 5 years, if they do, most will actually will be duel-nationals, having been granted US citizenship while keeping their home country citizenship.
Anyway once they get a "green card" that signifies permanent residency, they have got it made, as they can then come and go from the USA as they please, without almost any future immigration restrictions.
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Reply 4 - Posted by:
BadgerBill, 12/31/2012 6:05:39 PM (No. 9092096)
Ahem...gov´t has no place in briberies of this sort.
Federalism, where are you when we really need you?
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Reply 5 - Posted by:
LouD, 12/31/2012 7:01:31 PM (No. 9092164)
At least these foreigners aren´t living off the taxpayers. There aren´t that many of them compared to illegals, who get benefits we pay for.
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Reply 6 - Posted by:
ColonialAmerican1623, 12/31/2012 10:06:46 PM (No. 9092390)
Worth reading again.
My concern would be how much of the US is now foreign owned ?
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Reply 7 - Posted by:
bighambone, 1/1/2013 3:04:32 AM (No. 9092617)
So far this has been a relatively small program, but in the future it may well be open season on American businesses and property by foreigners. Anytime the USA signs a free trade agreement the citizens of the foreign countries involved must be treated just as Americans are treated in financial transactions. So you can see a point where say the Chinese could start buying up tracts of American farmland now owned by families, turn those pieces of farmland into commercial farming operations and then hire American farmers to till the land under imported Chinese managers.
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