U.S. Immigration & Visas

Foreign Nationals Investing in U.S. Real Estate ar often concerned about U.S. Immigration and Visa laws. Clearly, their residency status is also relevant to their tax situation. The Immigration laws are under constant changes. This web page was created in order to help out with the understanding of the basics of the law. Please consult an immigration attorney for more detailed assistance.

Visas 

Most individuals who want to live permanently in the US must first enter with a temporary visa. Types of such visas are briefly described below:

B-1 "Business Visitor" : This visa allows an individual to incorporate in the US, acquire property, sign contracts and perform certain other business activities, but it does not allow the individual to directly manage a US business or receive US-sourced wages.

L-1 "Intracompany Transferee" : This visa pertains to individuals who own or work for a foreign corporation that is directly related to a US corporation that employs the individual in an executive, managerial or special-knowledge capacity.

E-1 "Treaty Trader" : This visa is available to individuals from nations that have a treaty of trade and commerce with the United States. The visa allows the holder, spouse and minor dependents to live in the United States for an indefinite number of years.

E-2 "Treaty Investor" : This visa allows a foreign individual or corporation to live in the U.S. while actively investing in, operating and managing a U.S. business.

EB-5 "Million Dollar Investor" : This visa is available for individuals who plan to make a capital contribution of $1 million to an enterprise.

H1-B "Temporary Professional Worker" : This visa allows an individual with a bachelor's degree from the US or abroad to remain in the US for 6 years while employed in a professional position with a United States employer.

O and P "Extraordinary" : These visas are available for aliens of "extraordinary" ability in the sciences, education, business or athletics.

Becoming Permanent

The alien investor or professional worker may become a permanent resident according to the following general process :

Step 1 - Establish a US business enterprise and begin trade with the United States (L-1) or begin (H-1B) employment.

Step 2 - Obtain an L-1 or H-1B visa.

Step 3 - Travel to the United States on an as-needed basis, maintaining non-residence status in the United States for tax purposes.

Step 4 - Obtain permanent residency after a year in the business, if the business is viable and the investor and corporation meet certain requirements. In the case of H-1B professionals, the individual and his/her family can remain in the United States only for seven (7) years unless they obtain permanent alien labor certification by obtaining a bona fide job offer from a US employer in which the foreign worker and family are not directly involved.

Step 5 - Obtain U.S. citizenship after five (5) years from granting of resident status.

I hope you find this web page for an assistance,

Good Luck & Happy Residency

Sites that may assist you further on :

www.immigration-usa.com

www.immigrationguide.com

www.usvisanews.com

Eli Magen, Mortgage Specialist for International Investors in Florida.

 Wednesday, May 17, 2006

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