Proposed Bill Would Give Visas to Foreigners Who Purchase US Property

Senators Chuck Schumer and Mike Lee have co-authored a bi-partisan bill intended to spur foreign investment in the U.S. This new bill proposed by the US Senate would offer residential visas to immigrants purchasing eligible property in the US. The bill would require foreign nationals to purchase real estate for $500,000 USD or more. At least $250,000 of that total must be used to purchase a primary residence; the remainder of the money could be spent on investment properties. According to proponents, this bill may be part of the solution to the US real estate crisis.

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