Real Estate Articles
FAQs on Visas, Purchasing & Investing in Real Estate, and Green Cards
Matt Schulz, a partner at Dentons global law firm, focused on answering frequently asked questions about different types of visas, purchasing real estate, permanent residency, and obtaining a Green Card at Tuesday's SILVAR Global Business Council virtual program on "Immigration, Visas & International Travel." Schulz says the United States has numerous types of visas for specific purposes - for tourists, temporary or permanent immigrant workers, investors, students, permanent residency, etc.
Below are summarized answers to some of the questions Schulz covered. These answers provide general information only and do not constitute legal advice. Schulz advised REALTORS® who have clients interested in purchasing or investing in real estate in the U.S. to consult an immigration attorney who can provide guidance and legal advice.
Can I buy a home in the U.S. if I am not a citizen or lawful permanent resident?
Yes. Unlike other countries, the U.S. has no citizenship or permanent residency requirement for purchasing property.
Can I get a Green Card if I invest enough money to buy commercial property or land to develop into commercial property?
Yes, there are options for this purpose, such as applying for an EB-5 Green Card which is for investors and entrepreneurs who invest a minimum of $1.8 million (or $90,000) in a U.S. business which will create jobs for U.S. workers.
If I get a Green Card, will I have to pay U.S. taxes?
Green Card holders are subject to tax on any income they receive worldwide, regardless of where they reside. There are tax deductions, credits, treaties, etc., that impact income due. There are also gift and estate tax considerations.
Can I get a visa instead of a Green Card?
Maybe. There are many types of visas. Visas are a temporary status that allows you to remain in the U.S. for a given period. A Green Card offers permanent residency status and paves the way to U.S. citizenship. Green Card holders may be able to sponsor their immediate relatives to get a Green Card and live and work in the U.S.
Are there any restrictions on the work I and my spouse can do in the U.S.?
Green Card holders have unrestricted work authorization. Most visa holders have restrictions on work or are unauthorized to work. For example, the H-1B visa is a nonimmigrant visa that allows employers to petition for highly educated foreign professionals to work only for them in "specialty occupations." Spouses of H-1B visa holders are generally not allowed to work unless they apply for their own work visa or meet certain exceptions.
How long does it take to get the Green Card or visa?
Green Cards are slow, visas are faster. E-2 Investor visas can be obtained within three months in most cases. Immigrant visas are slower to obtain because the requirements are harder, government processing is slower, and there is a quota waiting period that depends on the applicant's country of origin. The U.S. has a quota of acceptance for each country.
For official information on immigration, visas and obtaining a Green Card, visit https://www.uscis.gov/, or contact Schulz at matthew.Schulz@Dentons.com.
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