A very recurring question on social networks, or from people who contact the office is whether the purchase of a property in the United States gives you the status of permanent resident, or gives you access to the green card, or even authorizes you to work and / or reside in the United States. In today's blog we are going to be talking about this topic.
If you are a foreign citizen and want to buy a home in the United States, there are several things to consider before investing.
The first thing to keep in mind is that, if you have a tourist visa, you must respect the established times of stay and entry in the country, and you will not be able to work if you are not authorized to do so. The violation of any of the terms of your tourist visa will lead to its termination, not renewed, or in extreme cases to the denial of entry to the country, with sanctions.
Buying a property in the United States does NOT confer permanent resident status, nor does it authorize you to work in the United States. Buying a home in the United States does not authorize you to stay longer than the established time according to your visa. With the purchase of a home in the United States, you are only obtaining title to it, but no other benefits are being acquired. To obtain permanent resident status or employment authorization, it will be necessary to explore other options. For more information visit our blog, or our YouTube channel.
When a property is purchased in the United States, the financing of this may be by foreign banks, or by American banks. Keep in mind that the rules regarding down payment, insurance, and interest will be different depending on the location, the type of property and the financial institution with which you are working.
It is a good idea to contact a broker or realtor to help you with your process. Tax aspects must also be considered. When you get a home in the United States, you will have to pay certain taxes on it, especially if it is rented to people who are not its owners. Since the foreign owner does not have a social security number, it will be necessary for him to obtain an ITIN number with which to file his tax return.
It should be noted that the purchase of a property in the United States can have consequences on your visa. If you have a tourist visa and need to renew it and have purchased a property in the United States, you must demonstrate to the immigration officer that your intention are not to reside in the United States, that you are going to maintain your tourist category, and that you will in no way violate your visa requirements; also that you have strong ties that unite you to your country of origin, and that you will return to it at the end of your visit to the USA.
If you need help with your immigration process, or if you want a totally free consultation where we evaluate your case, contact us. In Y. Morejon Attorney, P.A. we can help you with your process. We have helped many immigrants to settle in the United States. Trust your case in our professionals. In Y. Morejon Attorney, P.A. your problem is our problem.
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Any information made available by the lawyer or law firm is for educational purposes only, as well as to give you general information and general understanding of the law, NOT to provide specific advice. This does NOT create a relationship attorney-client between you and Y. Morejon Attorney, P.A. This information should NOT be use as a substitute for competent legal advice from a licensed professional attorney in your state.