Which countries have the right to purchase real estate in the USA?
US law does not limit foreigners. Citizens of Russia, Ukraine, Kazakhstan and other countries of the former USSR are free to buy any objects.
You can issue a transaction for both an individual and a legal entity. Market professionals recommend the second way, thanks to which you can protect property from inheritance and gift taxes, as well as limit the owner’s liability in case of accident. It is best to consult with a tax lawyer before making a decision.
What types of real estate are foreigners allowed to buy?
Overseas buyers can become owners of both residential and commercial real estate in the United States. No special purchase authorization is required.
What rights does a foreigner get after buying a property in the USA?
Acquisition of real estate is not a sufficient basis for obtaining a residence permit in the United States (GreenCards). Nevertheless, under certain conditions it gives the right to obtain a business visa.
When investing in real estate for rental, you can get an EB5 or L1 visa. If you are applying for EB5, you need to purchase real estate worth $ 1 million or more, for example, an apartment building or hotel, and provide 10 people with a job: rental agents, cleaners, people who are repairing … If you want to get L1 visa, you need to provide work for five people and be the managing company yourself.
You can also buy real estate for the purpose of repair and resale and, if properly organized, get an EB5 or L1 visa. In Florida, for example, investors often convert old apartment buildings into a condominium association. True, the investment should be significant, as it is necessary not only to acquire real estate, but also to provide work for 10 people. L1 visa does not require investments of $ 1 million, to obtain this visa you need to hire five people to manage the object.
What obligations does a foreigner have after buying a property in the USA?
Any owner in the United States, regardless of nationality or residence permit, is required to pay annual property taxes and utilities. Tax arrears can lead to fines and a refusal to issue a visa or extend the residence permit.