04:12
Darren Silver & Associates
A new legislative bill introduced by Senators Charles Schumer (D-NY) and Mike Lee (R-UT) proposes to offer a temporary residency visa to immigrants who spend at least $500,000 on a home in the United States. This bill, which received bipartisan support, will soon be considered by the U.S. Congress as a new way to stimulate a struggling U.S. housing market.
While not the same as the noted EB-5 Immigrant Investor visa program, which offers a path to citizenship for foreign nationals who invest at least $500,000 in a U.S. business enterprise that leads to at least 10 full-time jobs for U.S. workers, the newly proposed housing bill will provide a new and novel method for foreign nationals to enter and remain in the U.S. through investment.
The U.S. housing market is currently struggling; this...
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