U.S. Congress considering new visa for foreign home buyers

The U.S. Congress is now considering the VISIT-USA Act, which is designed to make it easier for some foreign nationals to optain visas. Called Visa Improvement to Stimulate International Tourism to the United States of America (S.1746), the act has several important provisions including:

• Home purchases.
  The bill creates a nonimmigrant visa, renewable every three years, for individial who spends at least $500,000 to purchase single-family homes in the United States. At least $250,000 must be spent on a primary residence where the visa holder will reside for at least 180 days out of the year while paying taxes to the U.S.
• Canadian Tourism.
  A new "Canadian retiree visa" (non immigrant visa) would be created that would last 240 days and be renewable every three years for Canadians over age 50 who have visited the United States or own a U.S. residence.

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