Minyanville.com published an article about the EB-5 investor program, Investment Visas: Swapping Yacht People for Boat People. I am quoted in the article:
“It just doesn’t seem fair that some rich person can come along and buy residency,” Matthew Guadagno, an immigration attorney in private practice, tells me. “I suppose there’s the view that you’re purportedly helping the economy, but for a guy who represents regular people, it feels wrong.”
People who are not rich usually get their green cards through the family based immigration system. If you are married to a U.S. citizen or you have a U.S. citizen son or daughter over 21 years old, a visa is immediately available for you. However, for all other petitioners there is a very limited amount of visas that are issued each year. These visas are given on a first come first serve basis. If the visas run out, then you have to wait until you’re at the top of the list. This is why opponents to amnesty complain that creating an amnesty allows those that don’t follow the rules to “cut in line.” There is currently a terrible backlog for people to get green cards, if you do not qualify for an immediate visa. According to the Visa Bulletin for September 2012:
* for 1st preference visas (unmarried sons and daughters of U.S. citizens): they are currently processing applications that were filed on October 1, 2005 and earlier. Thus, there’s an almost 7 year wait for this group.
* for 2nd preference part A visas (spouses and children of permanent residents): they are currently processing applications that were filed on May 10, 2008, and earlier. Thus, there’s a wait of 4 years for this group.
* for 2nd preference part B visas (unmarried sons and daughters, over 21 years of age, of permanent residents): they are currently processing applications that were filed on September 15, 2004, and earlier. Thus, there’s a wait of 8 years for this group.
* for 3rd preference visas (married sons and daughters of U.S. citizens): they are currently processing applications that were filed on May 15, 2002, and earlier. Thus, there’s a wait of 10 years for this group.
* for 4th preference visas (brothers and sisters of adult U.S. citizens): they are currently processing applications that were filed on March 8, 2001, and earlier. Thus, there’s a wait of 11 years for this group.
In light of the backlog of family based visas, I don’t think that it’s fair that rich people can buy their way to the top of the list.