IMMIGRATION & REAL ESTATE

How Immigrants and Foreign Investors Can Buy and Sell Property Without Citizenship

Living in the U.S., part of the American dream is to own property. Having a home or business to call your own is an essential part of the experience of living here, but it’s one that citizens can take for granted. But what if you’re not a US citizen? What about your American dream?

There are a lot of misconceptions about this process, so we want to set the record straight. Don’t give up on your goals of being an American property owner. In fact, there are already many immigrants, both documented and undocumented, who are already doing it. According to US Census data and the Migration Policy Institute, there are about 3.4 million undocumented immigrants who own homes in the United States. That’s roughly 31% of the total population of undocumented people. When talking about legal immigrants owning homes and other properties, about 53% of them are homeowners. In fact, during the Great Recession when home purchases dropped for native buyers, it turns out that immigrants were still buying homes at a record pace!

Overall, this data shows that the American dream of property ownership is alive and well. Not only that, but it seems to be getting more and more prevalent as time goes, especially since there is currently, nothing preventing immigrants or foreign nationals from buying homes or commercial property in the United States. This is a huge advantage for those who want to be homeowners or who want to start or expand a business.

Other Considerations: Foreign Investors

Property does not guarantee citizenship. If you are hoping to get a green card or become a citizen, buying a home or commercial real estate will not always make it automatically so. After all, loans have to be repaid, no matter what. If you take out a loan in your name and you leave the country (either voluntarily or involuntarily), it still has to be paid. In many cases, immigrants will have remaining family members continue payments so that they don’t default.

What’s even more surprising is that owners don’t have to be a resident. Many foreign investors can buy properties in the US without any problems. So, regardless of if you are planning on becoming a permanent resident or not, you can still have the property of your dreams. In fact,

did you know that by purchasing or selling real estate in the United States of America it’s possible for a person to earn their US citizenship? Real estate investments are an immigration entryway for people with enough money to obtain an investment or entrepreneurial visa.

What is an Investment Visa?

If a foreign entrepreneur or investor wishes to immigrate to America, they may qualify to do so as part of the Employment Based Fifth (EB-5) Program. The program was established in 1990 in an effort to remove the barrier to entry for international business people wishing to bring their operations to America.

In 1992, Congress expanded the program to include investors in commercial enterprises – not just the entrepreneurs running the business. This “Pilot Immigration Program” allowed foreign-nationals to invest in existing, pre-approved regional centers and gain citizenship in the process. These government-approved regional centersare defined as enterprises that promote the economic growth of America.

Why Would You Obtain a Real Estate Investment Visa?

Because a foreign-national’s investment in the United States doesn’t need to be solely cash based, purchasing commercial real estate is an excellent qualifying investment. Likewise, purchasing property with the intent to sell can satisfy both the cash investment and entrepreneurial requirements of an EB-5 visa.

If you want to come to America, with your family, and you have the means to invest in a business – or the commercial real estate associated with that business – an EB-5 visa could be the best option for you.

Immigrating to the United States can be a difficult and lengthy process. Because not everyone can meet the requirements for a real estate investment visa, fewer people can take advantage of the EB-5 program.

Both the entrepreneur/investor and the country benefit from EB-5 sponsored immigrations. Immigrants with EB-5 visas bring money and means to stimulate the American economy. The invested party gets to enjoy life in America and make a living as an independent business person and/or investor.

Immigration & Real Estate

While an EB-5 visa isn’t necessarily a visa just for real estate investors, it’s an excellent entry point for anyone looking to move to the United States and start their own business.

Depending on what your goals are (i.e., homeownership, foreign investing, real estate investing, business operations), you will want to understand everything involved in this process and as you can see, the process can be complicated and there are a lot of details that need to be properly addressed. As such, you will want to be sure that everything is done correctly, (the first time) which is why working with a lawyer to go over your paperwork with you.

If you are still deciding which agent you want to work with on your foreign investments, there are several benefits with working with a real estate agent who is also an attorney!

To learn more about the hidden benefits of working with an agent who is also an attorney, please be sure to download our informative guide, “The Hidden Benefits Of Working With An Agent Who Is Also An Attorney.” Having this kind of assistance can help you make the process much easier, and it may save you a lot of trouble in the long run.