It’s $1,000,000, or $500,000 in a “targeted employment area” (i.e. high unemployment or rural). And the law specifies the investment must “create or preserve ten permanent full time jobs for qualified United States workers.” See here.

The visa is designed for entrepreneurs. It’s unclear if investing in a future residential building qualifies, since construction jobs are not permanent. Jersey City is neither high unemployment (currently 4%) nor rural, which means $500k wouldn’t be enough. And the program clearly is not intended as a way of soliciting investments for senior White House advisers’ families.

Regardless, the investment allows one to apply for a special visa, it does not guarantee it. Sen. Grassley requested an investigation into Qiaowai because it claimed it could expedite the visas using the connection to Kushner. That could be fraud, or it could be corruption. Or neither.