Grigory Finkelson - an open letter to Trump: 10 thousand Chinese investors will finance the Wall on the border of the USA and Mexico in exchange for a green card
Money for the construction of a wall on the border between the United States and Mexico can be obtained from wealthy investors who are interested in the American green card. With such a proposal made the head of the legal office in San Francisco, Ph.D. Gregory Finkelson.
He published an open letter to President Donald Trump on the website American Corporate Services Law Offices, Inc.which outlines the main provisions of his plan. A similar idea arose for Dr. Finkelson as part of his specialization in business, finance and immigration.
Thus, Finkelson proposed the creation of the EB-5WALL Investment Immigrant Visa Program, which would operate in accordance with the general principles of the current EB-5 program for a limited period of time.
The main idea of the proposed program is as follows: foreign investors are investing thousands of dollars at 500 (this is the size of the current minimum investment under the EB-5 program) and in return they and their families receive green cards. This investment is proposed to be made non-refundable in exchange for a temporary cancellation of the annual limit in the amount of 10 thousands of EB-5 visas per country and expedited processing of documents within 15 days.
If this program were implemented, 5 billions of dollars needed to build the wall could be collected with the participation of all 10 000 qualified investors. According to preliminary estimates, more than 5 140 wealthy investors from China are currently interested in the EB-000 program.
Read the open letter outlining the plan can be on website.
To support this initiative, use the hashtag #EB5WALL.
ForumDaily talked to Dr. Finkelson about his initiative.
Your initial idea of financing the wall was related to the resumption of government work. Now that the government has started working again as usual, does your proposal remain valid?
Gregory Finkelson: Yes. The idea of financing the Wall itself is presented separately. However, if my proposal is accepted, the situation when civil servants lose their jobs will be excluded.
Keep in mind that the suspension of the government (shatdown) was canceled only until February 15, so we may again face a dilemma. Perhaps the next three weeks will provide sufficient opportunity for the proposal to be reviewed and approved, so that we do not face another shatdown.
Can you explain the mechanism of the proposed project EB-5WALL??
Gregory Finkelson: For starters, USCIS will have to endorse my proposed EB-5WALL project. After approval, foreign investors, mostly Chinese, can contact US law firms licensed to prepare their I-526 petitions. Our law firm is one of the leading immigration firms. We will be happy to handle such petitions, since our immigration lawyers have extensive experience with EB-5 visas.
There are three requirements for EB-5 visa applicants:
1) Investments in the US economy in an amount not less than 500 000 US dollars;
2) Creating at least 10 new jobs for Americans; and
3) Validation of available funds.
For the proposed EB-5WALL project, the above conditions will remain the same:
1) A minimum investment of 500 000 USD will be made to the country's economy;
2) At least 10 new jobs for Americans will be created, which will be confirmed by a business plan and an econometric rationale prepared by an accredited economist; and
3) The validity of the funds available will also be confirmed.
EB-5 Chinese investors patiently expect the EB-5 process to satisfy their demand for visas. Some of them are waiting for 10 years, and it seems that in the near future there will be no acceleration of the process, despite the annual campaign of the Congress on immigration reform.
This expectation grieves potential investors. Many of them decide to immigrate to Canada, New Zealand, Australia, Portugal, the UK, Cyprus and other countries. As a result, the United States loses qualified investors, does not receive their investments and additional benefits associated with their acquisition of real estate, the creation of new enterprises in the United States and the increase in employment of American workers.
The proposed EB-5WALL program will have only two differences from the existing Regional Centers program:
A) Temporary abolition of 10 000 investors' quota for the country; and
B) Accelerated processing of petitions for 15 calendar days.
The measures outlined above must be taken to obtain a non-refundable investment in the amount of 500 000 US dollars from each investor for the Wall construction project. This is the price investors are willing to pay for the opportunity to legally immigrate to the United States.
How and when will the EB-5WALL investors return their investments?
Gregory Finkelson: My offer does not involve return on investment. The investment meets the requirements of the EB-5 program. These HNWI (wealthy individuals) are more concerned about obtaining permanent immigration status in the United States than returning their investments.
Processing 10 000 investor claims would take a significant amount of time. Are there 10 000 investors who are already properly verified so that their applications can be processed as soon as possible?
Gregory Finkelson: Currently, around 140 000, Chinese investors have already been faced with the fact that they need to wait more than 10 years to become a permanent resident of the United States - GreenCard. Many, if not all, of them will be happy to switch to EB-5WALL.
In addition, there are still more potential Chinese investors who are unwilling to wait for 10 for years to receive their temporary green cards. They will gladly take advantage of the EB-5WALL program I have proposed.
I am confident that we will be able to attract these Chinese investors to the EB-5WALL program in a relatively short period of time.
In addition, we must understand that the US government does not need to simultaneously invest all 5 billions of dollars into the construction of the Wall. Processing and financing can be carried out with monthly, quarterly and annual investments.
Assuming 10 000 investors are ready for immediate approval, will their families receive immigrant visas?
Gregory Finkelson: EB-5WALL will operate under the same law as the EB-5 Regional Centers program. All family members will receive temporary green cards along with the applicant.
According to USCIS rules, “family” means the applicant, spouse, and their single children up to the age of 21.
Is there anything else that would need to be done to speed up the efficient processing of applications?
Gregory Finkelson: Our legal office has extensive experience with Chinese EB-5 investors. Several years ago I published the book How to Find Chinese Investors, Agents & Clients for Your EB-5 Projects & Services - A Practical Guide for Regional Centers, Attorneys, Developers, and Businessmen (available at http://www.biz -visa-usa.com as well as on www.Amazon.com).
The US government should conduct an active marketing campaign to explain the rules of the EB-5WALL program to potential Chinese investors - to attract them to participate in this program. The cost of this campaign can also be covered by EB-5WALL.
People are concerned that refugee caravans are seeking asylum in the United States, crossing the southern border. Shouldn't we be just as concerned about the rapid influx of immigrant investors? Should we trust them more because they are rich?
Gregory Finkelson: The EB-5 and EB-5WALL programs are LEGAL ways to immigrate to the United States. Each applicant-investor will be checked for a criminal record and will have to prove the legality of the origin of their capital. Every legal applicant for immigration to the United States undergoes serious security checks, regardless of whether they seek refuge or invest part of their wealth in the US economy.
Many successful people who want to immigrate through investments have the same reasons for applying for immigration. This can be expressed in one word: repression. Autocratic governments create conditions that make life difficult for both the rich and the poor. No group is more or less trustworthy than the other.
However, both groups may include individuals whose intentions are not honest. The goal of building the Wall and other security measures is, to the best of our ability, to ensure entry to the country only to those who have legitimate and honest intentions.
Those who pass a security check and prove compliance with all requirements for obtaining immigration status will be allowed to enter the United States as legal immigrants.
Information: American Corporate Services Law Offices, Inc. specializes on businessи investment immigration в USA. Gregory Finkelson is dear author known of the EB-5 Projects & Services books for Chinese Investors, Agents & Clients and "Moving Your Family to America". Books are available by link.
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