Proposed Bill for Foreign Investors

A proposed measure in Congress would offer visas to any foreigner making a cash investment of at least $500,000 on residential real-estate (a single family home, townhouse or condo). It is said to be in efforts to help the suffering housing industry by getting some of the properties off the market. Applicants can choose to spend the all $500,000 on one home or sparse it out amongst a couple. They can use one home for residing purposes and the other may be used as a rental. It is very similar to the special visa program, EB-5, that was implemented to allow foreign investors to invest $500,000 into a U.S. Enterprise to receive a visa.