It is of the utmost importance that all potential real estate buyers understand the visa options they may qualify for when purchasing a property in the United States. Foreign buyers must obtain the proper documentation required for financing and to enable them to hold title as well as fulfill other obligations of owning real estate such as paying taxes.
With the help of a licensed, knowledgeable and trustworthy immigration, mortgage and real estate professional, you can achieve your dream of home ownership in the United States.
Certain lenders can work with a tax identification number (TIN), whereas other lenders require a social security number (issued only when one is authorized to work in the United States). If you plan on purchasing a property as a primary residence, the foreign buyer must have the appropriate visa to remain legally in the United States.
I can guide you every step of the way and direct you to the right immigration and mortgage professionals, to make the process as flawless as possible. Please feel free to contact me to discuss your needs.
Below are the most popular visas that foreign buyers apply for according to their situation. Information below is as provided by the UCIS.gov website and is for the year 2015.
Non Immigrant Visas:
L1 Visa - You may be eligible for an L-1 visa for “intracompany transferees” if you are an executive, manager, or a worker with specialized knowledge who has worked abroad for a qualifying organization (including an affiliate, parent, subsidiary or branch of your foreign employer) for at least one year within the 3 years preceding the filing of your L-1 petition (or in some cases your admission to the United States). The organization must seek to transfer you to the United States to work in one of the capacities listed above.
Initial period of stay in the United States: Up to 3 years (1 year for new office petitions). Extensions possible in up to 2 year increments. Maximum period of stay: 7 years for managers and executives; 5 years for specialized knowledge workers.
E2 Visa - You may be eligible for an E-2 visa if you invest a substantial amount of money in a new or existing U.S. business. You must be from a country that has a treaty of commerce and navigation with the United States or a country designated by Congress as eligible for participation in the E-2 nonimmigrant visa program. For a list of treaty countries, visit the Department of State website.
Initial period of stay in the United States: Up to 2 years. May extend or renew the period of stay in 2 year increments.
EB5 Visa - Business investors who invest in-between $500,000 to $1 million (if the investment is made in a targeted employment area), in a new commercial enterprise that employs at least 10 full-time U.S. workers, may be eligible for the EB5 visa. This visa may allow the alien investor, their spouses and their children, immigrant visas based on their investment in the U.S.
Source: U.S Citizenship and Immigration Services - UCIS