Danger of Proposals : Sometimes They Never Become Law

Recently there was news from the Department of Homeland Security that there would be a proposal to allow spouses of certain H-1B workers to work.  See link for the actual release.

While this particular proposal seems likely to happen, it does raise the issue of when proposals are seen as actual “law”.  Not too long ago there was a proposal by US Senator Schumer to grant permanent residence visas to overseas investors who put in $500,000 US dollars into residential property.  The Wall Street Journal wrote about it as well as other national news outlets.  Overseas, especially in Asia, it received a lot of positive press.  It should be noted that several countries, such as Panama, have residential property investment visas.

However, this proposal did not get passed into law.  But we do get questions about this residential real estate property visa all the time.  Unfortunately, we have to tell them it doesn’t exist.  Some don’t believe us and presumably go to others trying to utilize this residential property visa.  What’s there not to like about this?  You buy a property that you would have normally and they throw in a green card in the process as a nice freebie.  Much better than having to create 10 jobs and putting one’s capital at risk (the current EB-5 scheme).

Other attorneys (US attorneys, I may add), ask about this as well.  That’s why it’s a bit problematic writing about proposals before they come law.

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