Today, we are featuring a guest post from Christel Silver, Broker/Owner of Silver International Realty!
Are you working with international clients? Here is a great tool for you. Reach out to different countries through social media—it is free—and mention this possibility for a legal residency in the US.
Did you know that the US has more than 50 Visa types?
What is a visa? It is the requirement a foreign national wishing to enter the United States must meet to obtain a visa, which is a permit to travel to, enter, and remain in the United States.
Have you heard about an EB-5 Visa?
It is a very unique visa for the US, which was created in 1990 by the Immigration Act of 1990. It provides a way for eligible immigrant investors to become lawful permanent residents or “green card" holders. The requirement is an investment of either $500,000 (in rural areas) or $1,000,000 to finance a business in the United States that will employ at least 10 American workers. Besides the monetary investment, there is an application and interview process. After the successful completion of the program, the investor, his/her spouse and unmarried children under the age of 21 receive permanent status in the United States within 22 months. The EB-5 program is intended to encourage foreign investments and economic growth.
The requirements can change, so keep yourself informed.
The current rules are running out at the end of the year, and while many immigration attorneys feel this EB-5 Visa requirement will be extended, there may be a change of the amounts required. There are hotel buildings or condominium projects, which have been pre-qualified to serve as an EB-5 investment, as they guarantee the 10 employees per investor as required. The investor can also start a personal company but still has to employ at least 10 American workers.
What does this mean for you?
It is an excellent way for wealthy foreign investors to loan this amount to the builder as a construction loan, which can be refunded after a 5-year period, although the interest might be around .5%. Besides this investment, there is a cost involved: $50,000 fee for the government application and about $18,000 attorney fees. You never want to encourage an investor to do this without legal counsel. There is too much money at risk. The projects pay a $25,000 finders fee! But the best marketing tool for you: once the investor lives in the US by your helping them buy a property, and if you helped them receive the green card, they will continue to buy from you.
Investigate projects in your state, visit them, and find out how you can market the project. Good luck!
Connecting with investors is a great way to boost your business. For more help reaching your target market, take a look at our real estate marketing materials!
Christel Silver is a full-time Broker/Owner of Silver International Realty servicing the East Coast of South Florida. The National Association of Realtor’s (NAR) President appointed her (2010-2014) as the President’s Liaison to Germany, where she grew up and worked at the Justice Department for 17 years prior to coming to this country. Fifty percent of her business is in the International arena. For more information visit www.silverhouses.com.
This post originally posted on PrinterBees' Real Estate Marketing Magazine.