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Immigration Status and the Impact on Property Transactions

This article explores the impact of immigration status on property transactions, including eligibility criteria for non-immigrant visas, immigrant visa options, and the advantages of the EB-5 category for immigrant investors. It also discusses the Deferred Action for Childhood Arrivals (DACA) program, Temporary Protected Status (TPS), and important considerations for obtaining driver's licenses and social security numbers.

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Immigration Status and the Impact on Property Transactions

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  1. Immigration Status and the Impact on Property Transactions June 19, 2018 Brent Huddleston Huddleston Law Group, PLLC

  2. FORBES STORY: Why Foreign Investors Love U.S. Commercial Real Estate, and Why More Will Follow (5/30/18) • Over $365 billion in foreign CRE investment since 2010 • Investors seek stability, options, liquidity • Most active countries: China, Mexico, Canada, UK https://www.forbes.com/sites/forbesrealestatecouncil/2018/05/30/why-foreign-investors-love-u-s-commercial-real-estate-and-why-more-will-follow/#e4b5e4635090

  3. Background - Key Players • U.S. Department of Homeland Security - Contains USCIS, ICE, CBP • U.S. Department of State - Controls U.S. Consulates

  4. Categories of Immigration Status • U.S. Citizenship • Legal Permanent Residency • Green Card • Nonimmigrant Visa

  5. Non-Immigrant Visa Categories • Each has specific eligibility criteria • Temporary v. Dual intent • Some allow for spouse employment • Different processing times • Different validity periods • All allow for purchase of real estate

  6. Selected Visa Categories • B-1: Business visitors • B-2: Tourists • F-1: Students • H-1B: Specialty Occupation Workers • L-1: Intracompany Transferees • E-2: Treaty Investors • O-1: Extraordinary Ability • Country Specific Visas: (TN, H-1B1, E-3)

  7. Immigrant Visa Options • Spouse/immediate relative  family-based green card • Extraordinary ability/managers & executives  EB-1 • Advanced degree  EB-2 • Bachelor’s degree  EB-3 • $500k  EB-5

  8. EB-5 Category for Immigrant Investors • Investor must invest $500k or $1 million in a new commercial enterprise • Investment amount is $500k if investment is in a TEA • Investment must create full-time employment for at least 10 U.S. workers • Regional center v. direct investment • Program set to expire Sept. 30, 2018

  9. EB-5 Regional Center Investment • Regional Center is an entity designated by the USCIS that focuses on a geographic area • Investment into a RC may be passive • Most RCs are in TEAs for lower investment amount of $500,000 • Job creation may be indirect

  10. EB-5: Advantages • Can avoid backlogs in other EB categories • Only viable investor option for countries without E-2 temporary visa (China, India, Brazil) • Minimum investment amount has remained consistent since 1990

  11. DACA • DACA: Deferred Action for Childhood Arrivals • Provides employment authorization for certain eligible applicants • Program was set to end March 5, 2018 • Currently in litigation/applications still being accepted

  12. Temporary Protected Status • TPS granted for countries with environmental disasters or armed conflicts • 10 countries currently have TPS status • Current administration has announced end dates for 6 countries • 98% of TPS grantees to be affected – roughly 317,000 immigrants

  13. Driver’s License/SSN • Only foreign nationals authorized to work can get SSNs • Lawful presence required for Texas DL; not for SSN

  14. Title Issues • Must have proper identification (DL or Passport) • Mexican matricular consular generally not accepted • If out of the country, can use U.S. Consulate for notary • Contact title company in advance

  15. Takeaways • Tune in for buzz words • Ask if clients have considered immigration issues • Consider title issues • Keep timing in mind • E.g. – TN = 1 week; H-1B can take > 1 year

  16. Questions? Brent Huddleston brent@huddlawgroup.com www.huddlawgroup.com

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