In all the discussions of immigration reform, I don’t think much mention was made of this provision- the JOLT Act – (Jobs Originated through Launching Travel Act. of 2013). Some important gems are added to the bill including premium processing for tourist visas at the consulates.
Ever since there was introduction of the bill that stated that one could reside in the US by purchasing a house, I have had frequent questions about when that law will pass. Well, now is the time to talk about it again! A reminder of our article iss here -“Buy a house and get a green card”
The Comprehensive Immigration Reform Bill 2013 includes provisions on buying a house to reside in the US. Here is a summary:
- Canadian citizens and (their spouses) who are over 55, maintains a house in Canada and rents or owns a house in the US, can reside in the US for upto 240 days in any given year (8 months).
- Retiree visa:
- Buy one or more house(s) for at least $500,000 in cash
- Maintains ownership of residential property worth at least $500,000,
- And resides more than 180 days in a residence in the US in that is worth more than $250,000.
- Spouse and children can reside too.
- Cannot engage in work except for employment that is directly related to the manageement of the residential property worth $500,oo0.
- Over 55 years old.
- Has health insurance.
- Not inadmissible
- May renew visa every 3 years.
I think this means that though one cannot actually work under this visa, they can perhaps manage their properties (and perhaps receive rent?).
As I read and understand more, I will edit this blogpost. Here is the nutshell for everyone who has been waiting for this. A great addition to the current immigration system!
Reblogged this on Watson Immigration Law Blog and commented:
We are very honored and grateful as always that America’s Leading Immigration Publisher, http://www.ILW.com reprinted this article. Thank you ILW!
Wow, this piece of writing is nice, my younger sister is analyzing these kinds of things, so I am going to convey
her.
has this law been passed? is the residential purchase only limited to certain states or areas? i.e. no investment in metropolitan areas like NYC or San Francisco
Hi Shirley, that is a great question. Unfortunately, this law has not passed. It is part of the immigration reform debate that is ongoing. The Senate passed the bill that has these provisions in June 2013 but unless House passes it also, it cannot turn into law. When this becomes law, it will not be limited to a geographical location. The requirement will be based on the value of the house in the US. Thanks, Tahmina