The Real Deal Miami

Buy a condo, get a visa

August 11, 2009 11:23AM

Foreign purchasers of distressed real estate are also applying for green cards as South Florida attracts overseas buyers in greater numbers. Latin American and European clients are applying for investor visas, which offer a faster path to resident alien status and eventual U.S. citizenship. Immigration attorneys in the area say the visa applications are an added inducement to lower property prices and a weak dollar. Lawyers say visa rules require more than buying a single condo, though — a federal program wants a $500,000 investment.