Special Visas for Foreign Buyers of US Real Estate

Recently, some clients of mine arrived from France, with an interest in investing in USA real estate and possibly relocating here on a permanent basis. I put them in touch with a Washington DC attorney and friend of mine, who specializes in visa programs for foreign nationals wishing to resettle here.

No Realtor should give advice to a client about who qualifies for what US Visas, but it can be useful to have a basic knowledge of some of these programs. Details on some of these visa programs were also addressed at a recent CIPS class that I attended.

At the National Association of Realtors mid-year convention in Washington DC last month, a panel discussion took place on this topic, and was addressed by Stephen H. Davis, an immigration lawyer based in Florida, who has developed a specialty in these programs. He jokes that he is just "a country lawyer", because he devotes so much of his time with clients from other countries.

One of the programs that the US government (US Citizenship and Immigration Services) has revamped in recent years is a program intended to attract foreign investment capital into the US, for job creation, in specific zones known as Regional Centers. These visas are part of the Regional Center EB-5 Program, known as "the investment visa". Investors must have at least $500,000 to invest in a commercial enterprise, the specifics of which vary by geographic center.

For example the Washington DC Regional Center is composed as follows: Legal boundaries of the District of Columbia (Washington, DC) and the contiguous adjacent areas of Montgomery and Prince Georges Counties in Maryland, Arlington and Fairfax counties in Virginia, and the city of Alexandria, VA.

In the DC Center, projects must be in: mixed hotel, retail, office and residential space, a soccer stadium, conference center space and industrial space.

In exchange for participating in the program, the foreign national is allowed to own property anywhere in the US, travel in and out of the country, obtain green cards for themselves, their spouse, and unmarried children under 21.

Another visa that may appeal to some is the E-2 "treaty investor visa" which might apply if one is buying a franchise in the US. Over 70 nations have such treaties with the US, including France, Germany, the UK, Canada, Japan, Korea, Australia --just to name a few. The investor must own at least 50% of the business and the business cannot be the investor's sole source of revenue (ie, such as being a shop-keeper).

As with all investments, there is a risk, so potential applicants should review these programs carefully, do their due diligence, and consult with a specialized attorney before embarking on this journey to America.

While I cannot give an applicant investment or immigration advice, I have developed the resources to help put the whole package together, and can supply real estate services in the entire Washington DC Metropolitain area including Maryland and Virginia. I can refer clients to competent real estate professionals in other parts of the country as well.

You can contact me by email for details.