Schools
Foreign Investments Fueling a Boom in Charter Schools Nationwide
Wealthy foreigners can in effect buy U.S. immigration visas for themselves and their families by investing at least $500,000 in certain development projects.
Investment advisor Greg Wing has established The Education Fund of America. It connects international investors with charter schools. According to the fund's website:
The Education Fund of America is passionate about financing schools that help children move from indifferent to INSPIRED. It is more than just a slogan for us, it drives our school funding decisions.
We are committed to helping our EB-5 investor families have a fulfilling experience with EB-5 knowing that they are also helping America's children - in the process.
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"The demand is massive - massive - on the school side," Wing told a reporter for Reuters. "On the investor side, it's massive, too."
He is currently arranging EB-5 funding--which gives foreigners visas for investing half a million in development projects--for 11 charter schools across North Carolina, Utah and Arizona. He even has four more deals in the works.
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And that's just the start, Wing says: "It's going to be explosive."
According to a story by Reuters, foreigners are using the funding mechanism to get into the U.S., by investing in school instead of luxury hotels, ski resorts or gast stations.
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