What began as a rarely used path to U.S. citizenship for wealthy foreigners has become big business in American real estate, one that Congress is considering for reform.
The EB-5 immigrant investor program allows citizens of foreign countries to acquire U.S. visas by investing a minimum of $500,000 into American businesses so long as the money creates at least 10 jobs.
A few years ago the program was barely used. By one count, only 346 such visas were issued nationwide in 2005.
The Washington region has become one of the hottest areas for retailers in recent years, with new restaurants considered among the nation’s best, a slate of tony downtown shops at CityCenterDC and a glut of Whole Foods stores on the way.
Why then, are District officials — along with representatives of Prince George’s County and the state of Maryland — in Las Vegas this week pitching their jurisdictions to chain retailers?
The site of the Beatles’ first U.S. concert is about to become a destination for the District’s climbers, campers and cyclists.
REI, the specialty outdoors retailer, on Wednesday announced plans to open a sprawling store inside Uline Arena in the District’s NoMa neighborhood. The 51,000-square-foot location is scheduled to open in late 2016. It will be the company’s fifth flagship store and its first in the District.
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A Look Behind the Scenes of D.C.’s Convention Center Hotel
Foreign citizens are investing in a visa program that allows them to gain permanent residence by investing $500,000 in a U.S. project that creates at least 10 jobs. Judith and Rene Dekker work on their dairy farm in Ubly, Mich. Originally from the Netherlands, the family moved to Michigan in 2000.