USA - USA Immigration and Citizenship

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The influence of foreign investors as well as their potential to assist the housing industry hasn’t been lost on legislators, it’s reported that Senators are introducing a bill that will grant visas to any non-U.S. citizen who spends a minimum of $500,000 on residential real estate in the United States, that they believe will help fuel demand.

“A new provision for an immigration bill already being considered through the U.S. Senate was proposed a week ago by Senators, Chuck Schumer of recent York, and Mike Lee, of Utah that will grant residence visas to foreign buyers spending no less than $500,000 to purchase residential property within the U.S.

The ‘Resident Visa’ provision to the immigration bill was written using the purpose of boosting and energizing the slow U.S. Housing industry by encouraging foreigners to purchase U.S. real estate. If accepted, this provision would compliment other foreign visa actions proposed within the bill that would encourage more spending and capital investment by foreigners in the United States.

There are several stipulations. Here are a few from the highlights:

At least $250,000 should be allocated to a residence and also the balance could be allowed for residential rental/investment properties.

Foreign buyers be forced to pay for his or her purchases with cash, pay U.S. taxes and spend no less than 180 days within the U.S.

Foreigners immigrating to the U.S. with the new visa wouldn't be able to work here unless they obtained a regular work visa through the normal process.

They'd be allowed to bring a spouse and any children under the age of 18 but they wouldn't be able to stay in the country legally on the new visa once they sold their properties.

Source: http://www.ohiowetlands.net/invest-500000-in-us-real-estate-and-get-an-american-visa-2/