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lakeelmoleader.com September 21, 2017


Jared Kushner's sister highlights family ties in pitch to Chinese investors

17 May 2017, 02:34 | Cassandra Thompson

Jared Kushner's sister highlights family ties in pitch to Chinese investors

Jared Kushner's sister highlights family ties in pitch to Chinese investors

The New Jersey building makes use of an EB-5 visa program to draw in global investors, including the Chinese.

A much-criticized visa program that allows foreigners to win fast-track immigration in return for investing $500,000 in US properties was extended in a bill signed by President Trump just one day before a sister of senior White House adviser Jared Kushner pitched the program to Chinese investors. "That was not Ms Meyer's intention".

Kushner Companies, the development firm formerly run by presidential adviser and son-in-law Jared Kushner, apologized yesterday for statements made in Beijing regarding the One Journal Square project in Jersey City.

(The organizers of a second Kushner presentation, this one held earlier today in Shanghai, were more proactive in dealing with the problem: They barred reporters from entering in the first place.) Something to remember when the White House inevitably says tomorrow that Jared Kushner has personally divested from the New Jersey building project and therefore there's nothing untoward about any of this.

A poster for the Kushner Cos. event in Shanghai on Sunday.

"We have every reason to believe there will continue to be a lot of demand for visas for the USA from Chinese investors", said Dave Platter, global communications director at Juwai.com, a property search engine that lists real estate around the world for Chinese buyers. President Trump signed a spending bill extending the program last week.

"Invest $500,000 and immigrate to the United States", reads the tagline on a brochure from the pitch event, according to the Washington Post.

The Washington Post, however, while reported that the event in Beijing was held with a message that the Kushner family came to the U.S. as refugees, worked hard and made it big and if you invest in Kushner properties, so can you.

However, Kushner Companies insisted it's mention of the White House senior advisor was not meant to lure investors.

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Over the weekend, the Kushners' business was trying to drum up millions of dollars in Chinese investment for a New Jersey skyscraper project.

Attendees were reassured by a USA lawyer that despite his tough talk on immigration, Trump himself was a key decision-maker for EB-5 policy and was unlikely to make any changes to it in the near future - making it a safe path to U.S. residency. In 2014, 85 percent of investor visas were issued to Chinese applicants.

At Saturday's event, attendee Wang Yun, a Chinese investor, said the Kushner family's ties to Trump were an obvious part of the project's appeal.

A Kushner Companies spokeswoman declined to comment in a New York Times article about the Beijing event published on Saturday.

Before taking on his role in the White House, Jared Kushner sold his stake in Kushner Companies to a family trust.

The system allows for foreign investors who give enough money to a qualifying USA project to apply for green cards for themselves and immediate family members, which can pave the way to becoming U.S. citizens. Critics saw it as a potential attempt by China to curry favor with the White House.

Noble said the type of pitch offered in China "is not unheard of in other countries where you get to the leader by ... financially supporting the family".

The programme designates private entities including property developers as "regional centres", which are expected to create jobs with the projects they undertake with money they collect from foreign investors. In return, an investor would receive the right to live in the United States and seek permanent residency after two years.



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