Congress Set to Revive EB-5 Program Giving Green Cards to Foreign Investors

Lawmakers reached a deal to reauthorize a program allowing foreign investors to apply for green cards after investing in U.S. real estate or other projects, after the program lapsed for the first time last year over a push to make its criteria stricter.

The EB-5 visa program, which has raised more than $40 billion for U.S. real-estate projects and other enterprises and funded major developments like New York City’s Hudson Yards, went out of business last July when a key congressional authorization for the program expired.

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