US visas draw investors to Florida

August 11 2009 by Rebekah Nahai

US visas for Miami foreign investors

Foreign investors are seizing investment opportunities in South Florida’s struggling real estate market – and securing US visas in the process.

Investor visas can potentially expedite permanent residency and eventually citizenship for those with the funds to obtain them.

Randall Sidlosca, a Miami-based US immigration lawyer with Fowler, White & Burnett, says: “Clients are coming to us primarily because of the economic opportunity they see in the market. It's mind-boggling to see the amount of interest… It's rather good news. It could mean the market will turn around faster than in other parts of the state.”

But investors seeking this route to a US visa must be prepared to invest heavily. A single condo purchase will not qualify a foreign national for an investor visa.

The original purpose of US investor visas was to attract those who have the skills and financial resources to contribute to the economy. Currently it is being marketed with an aim to revive local economies during the worst recession in decades.

In March, the US Department of Homeland Security launched an initiative in certain parts of Florida that provides temporary US residency visas to foreign national investors. The investors must contribute a minimum of $500k to any new or existing Florida enterprise that leads to the creation of at least 10 full-time jobs.

Miami immigration lawyer David Hart says marketing programs for the $500k investment package will be rolled out through foreign immigration agents in Venezuela, Colombia, Mexico, Taiwan, China, and Russia at the end of the month.

Investors receive temporary green cards, or US residency visas, which allow them to live and work nationwide for two years. Green cards are also provided for spouses and children under the age of 21.

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