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Controversial US Visa Draws Rich From China to India After Reset (1)

Sept. 20, 2022, 1:56 AM

A US visa program that attracted $37 billion in foreign investments since 2008 for projects including New York’s Hudson Yards and Trump Bay Street in Jersey City is making a comeback — and the queue of wealthy applicants from China to India is growing.

The revived EB-5 program is poised to fund undertakings from a golf resort in the Utah mountains to condos in rural Florida — while allowing some new overseas investors to cut years-long lines. The controversial initiative, which offers a green card in return for putting large sums toward a US business and creating at least 10 permanent jobs, had a backlog that extended almost ...