Buy a house, get citizenship?! Yes, we can!

A reader sent along to Michelle Malkin, a story published in a Bulgarian newspaper about an outrageous-sounding scheme offered to foreigners: Invest in real estate. Win American citizenship. Yes, it’s true.

From Bulgaria:

Investment in real estate in US guarantees a green card
16:58 Thu 15 Jan 2009 – Nick Iliev

The purchase of a piece of property in America, a single-family house, a PUD (planned unit development) or a condo (flat within a condominium) will guarantee you and your family a green card. This is one of the extreme measures implemented to help stall the meteoric fall of the United States economy in light of the economic crisis, Bulgarian weekly Stroitelstvo Gradut reported on January 15.

Thirty-five accredited investors will have the opportunity to acquire real estate in the south-eastern state of Florida – by purchasing a house – they will be granted a green card for permanent residence and right of employment for the buyer himself and his/her entire family.

Additional conditions are that the prospective buyer must have a clean criminal record, a good credit record, the ability to present and prove a decent monthly income, and no outstanding financial obligations or credit liabilities. The purchase itself can be done either with cash, bank transfer or monthly instalments, but the financial resource must be proven legitimate.

The US government has allocated 10 000 such visas nation-wide for potential investors in real esate, under a programme approved by the US Congress. Florida’s is the first such programme that has actively been given the green light to commence. Specialists in the field argue that this is the best time to invest and purchase property in America, as prices in some states have been slashed by as much as 25 per cent. Experts argue that within three years’ time, however, the market will stabilise and prices will rise.

Would Congress really approve such a money-grubbing and potentially dangerous scheme?

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January 16, 2009 · Filed Under Uncategorized

Comments

One Response to “Buy a house, get citizenship?! Yes, we can!”

Bob on January 17th, 2009 6:04 am

I have a friend who has owned 2 homes in the state of Florida and currently ownes one, and INS has literally jerked them around for the last number of years, as they have made application for Green Cards, They have paid untold fees, had meetings with INS and to this day still have no Green Cards. This is whats wrong with the INS, here are people that are clearly financially sound own the home and cannot break through the hiddious INS Red Tape.And have clearly been waiting in line. Now our Government is going to allow people to go to the head of the line. Outragious!

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