Silicon Valley is a place where many foreign nationals work and live. With the Trump administration weighing changes to immigration visas, Realtors® are receiving questions from prospective foreign buyers with plans to work in the region and homeowners wondering if they should sell their home should their work visa not be renewed.
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At a recent program presented by the Silicon Valley Association of Realtors® Global Business Council, Matt Schulz, an immigration attorney with Dentons law firm in Palo Alto, distinguished between types of visas foreigners can get so they can work and live in the U.S.
According to Schulz, family-based sponsorship is a popular way to obtain an immigrant visa if a U.S. citizen wished to have his foreign spouse, parents or siblings live in the U.S.
Popular in Silicon Valley and commonly used by tech companies is the H-1B non-immigrant visa, which allows U.S. employers to temporarily employ foreign workers in specialty occupations. The visa is granted for up to three years, and can be renewed for another three years.
“There may be changes in the way the visas are allocated, but no calls to limit their number or terminate the program,” said Schulz.
Another popular visa is EB-5, which is designed to attract foreign investment in projects that create jobs for U.S. citizens.
There are two types of EB-5 visas. The individual EB-5 requires direct investment in any for-profit business that creates at least 10 full-time jobs for U.S. workers. The Immigrant Investor Program requires investment in commercial enterprises with USCIS-approved regional centers. The investor is usually a limited partner and is free to live anywhere in the U.S.
Schulz said China is the biggest source of EB-5 visa users, followed by Vietnam.
Schulz indicated the program is currently under review by Congress because of charges of abuse. Despite its controversy, Schulz is optimistic that the program will be renewed, perhaps with additional oversight.
This article originally appeared on Mercurynews.com
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