New bill sponsored by Democrat Chuck Schumer (NY) and Republican Mike Lee (Utah) to increase housing demand. This is similar to job creation visa with $500K investment and 10 jobs. This bill if approved may become key to recovery of housing market of US.
Key highlights of visa for buying $500K homes:
– 3 years visa for foreign nationals who invest at least $500,000 in residential real estate in the United States.
– At least $250,000 must be spent on a primary residence
– Must reside for at least 180 days out of the year while paying taxes to the U.S
Sponsored Bill Link : Lee, Schumer Introduce Immigration Reform Bill