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Chinese pay to play visa game

San Francisco Business Times
March 16, 2012

Chinese investment is landing in the Bay Area... Just last fall, former San Francisco Mayor Willie Brown and his partners won U.S. Citizenship and Immigration Services approval to operate a so-called “regional center” that serves as a middleman linking Lennar Urban’s Hunters Point redevelopment with potential foreign investors. Regional centers can aggregate EB-5 investment from many investors, handle paperwork and immigration questions, and apportion jobs created to ensure as many as possible receive permanent U.S. residency rights.

In all, Golden Gate Global, operated by an entity called Golden State Renaissance Ventures LLC, hopes to raise five funds over six years totaling $300 million for the Hunters Point project, said Ginny Fang, the center’s CEO.