Does the new Senate Immigration Bill change investor visas? (Part 2)
Along with previous blogs regarding new investor visas, the Senate Bill creates a retirement visa for applicants who are over 55, do not work, purchase a home over $500,000, and have health insurance.
The applicant cannot work while in the United States. For Canadian Citizens, there is a retire visa that allows a person to stay in the United States for up to 240 days. We can only assume the requirement of “not working” means that the retirement visa holder cannot be on any payroll from a United States Company. We can assume that the non-immigrant retirement visa allow passive income in the United States such as stocks, bonds, and real estate investments. The US CIS will still need to clarify issues such as the length of the non-immigrant visa, what level of Health Insurance is required, and what percentage of ownership is needed in the purchase of the $500,000 home.
The bill creates a Canadian retiree tourist visa that will allow Canadians over age 55 with a residence in Canada to enter the United States for up to 240 days. This visa makes sense as Canadian Citizens over the age of 55 rarely over stay their visa in the United States. We wish that the Senate made the temporary visa a full twelve or 18 months since the Canadian Citizen would spend money in the United States while visiting. Moreover, we hope the US CIS can make this new visa easy to obtain at the border similar to the TN visa presently available for Canadian Citizens.
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