SHARED APPRECIATION MORTGAGE
There are different visa categories available depending on the individual’s country of origin.
THE VISA WAIVER PROGRAM (VWP)
Depending on the country of origin, there may be no need to obtain a visa to simply buy, sell, own, or lease real estate property as an individual as long as that activity does not reach commercial proportions.
If the investor comes from a visa waiver country, he does not need a visa to enter the United States for a maximum of 30 to 90 days at a time. The only requirements are a machine readable passport and a return or onward ticket. The applicants will be photographed and fingerprinted when seeking admission. The participating countries are currently: Spain, Australia, the Netherlands, Austria, Belgium, Brunei, Liechtenstein, South Korea, Estonia, Finland, Germany, Monaco, Hungary, Iceland, Denmark, Ireland, Japan, Lativia, Lithuania, Luxembourg, Singapore, Malta, Andorra,New Zealand, Norway, Portugal, France, the United Kingdom, Greece, Italy, San Marino, Slovakia, Sweden, Switzerland, and Slovenia.
If the immigration authorities deem that an individual stays too much time in any given year or in a period of time in the United States, the entry can be refused to that individual. When the entry on a visa waiver has been refused, the Applicant can only reenter the United States only if in possession of a valid visa.
If the investor is not a citizen of a country that participates in the visa waiver pilot program or intends to remain in the United States for up to six (6) months, a B-l “business visitor” or B-2 “extended tourist” visa might be the right choice.
E TREATY INVESTOR VISA
The E treaty investor visa allows an individual to come to the U.S. for the purpose of making a substantial investment in a U.S. enterprise made by individuals or businesses that are citizens of a treaty country. To qualify for the E Treaty Investor visa, an individual should meet the following requirements:
1. The principal investor needs at least 50% ownership of the investing company and the nationality of the treaty country.
2. The investor must have made an irrevocable commitment of funds into an active, commercial investment.
3. The investor’s own resources should be at risk in financial transactions.
4. The investment should generate job opportunities for U.S. workers.
5. The treaty investor must hold a key position within the company.
THE L INTRA-COMPANY TRANSFEREE VISA
The International Transferee visa is the best option for investors who are citizens of a country that has not become part of the required Treaty of Commerce with the United States. This category is for international business people coming to the U.S. as intra-company transferees from a foreign parent or subsidiary of the U.S. company (51% ownership) that will engage in real estate investment and development in the United States.
To qualify for a L-l visa, an individual should have worked for the foreign company for at least one continuous year within the three years prior to applying for the visa.
An L-l non-immigrant alien will be admitted to the U.S. for the time required by the employer up to a maximum initial period of stay of three years. An exception to the three-year initial stay exists for newly created companies in the U.S. (existing for less than one year) in which case the visa will be issued for one year only in order to control the new company’s profitability beyond the first year of operations.