(Bloomberg) A US program that grants legal residency to foreigners in exchange for job-creating investments is drawing a wave of interest from Latin Americans fleeing turmoil in their home countries.
For Brazilians, the number of visas from the program, known as EB-5, rose tenfold from 2015 to 2018 as Latin America's largest economy struggled to emerge from a crushing recession. Venezuela's total jumped as it spiraled deeper into hyperinflation. For Mexico, the increase coincided with left-wing populist Andres Manuel Lopez Obrador's successful presidential campaign. All three countries have also suffered surges in violent crime.
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