This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Rich Chinese Immigrants Are Buying Their Way to a Green Card

BEIJING (TheStreet) -- Beijing-based Henry Global Consulting is taking the high ground in the debate over U.S. immigration reform: The firm fully supports letting rich Chinese buy their way into the American dream.

It's a view Henry shares with at least a dozen other immigration consulting firms in China that cater to high-rollers ready to invest $500,000 or more in the United States in exchange for a green card.

The firms with names such as Well Trend United, Royal Way and Chuguo are easy to find online through a Baidu (BIDU) search for the phrase "America green card" in Chinese. They also advertise on investor-focused Web sites such as China Finance Online (JRJC).

In recent weeks, amid debates in America over how to handle illegals from Latin America, these firms have been pushing hard to find Chinese clients interested in the EB-5 immigrant investor program run by the government's U.S. Citizenship and Immigration Services.

More immigrants with permission to settle in the United States come from China than any other country except Mexico. Last year, according to U.S. government data, the nearly 72,000 Chinese granted permanent resident status represented about 7.2% of all newcomers from around the world.

EB-5 is especially attractive for Chinese. It requires neither employment nor English language proficiency. Instead, according to the U.S. State Department, it lets a foreigner apply for a green card after investing at least $1 million "without borrowing... in a qualifying commercial enterprise" or $500,000 "in a high-unemployment or rural area considered a targeted employment area."

The investment must create full-time jobs for at least 10 U.S. citizens, green card holders or immigrants authorized to work in the United States -- excluding the investor and immediate family members -- within two years. If these criteria are met, the foreigner may be awarded permanent U.S. residency.

The program started drawing more Chinese attention in February after Canada stopped giving residency status to rich immigrants who loaned 800,000 Canadian dollars to the government. The Canadian program, popular among Chinese, was declared ineffective by the government.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs