Great News for Canadians buying real estate on Maui!
New proposed visas for Canadians wanting to come and stay longer in the USA may be approved soon, pending approval of the legislation by the US Congress.
The Retirement Visa will allow Canadians age 50+ to spend as much as 240 days annually in the US Sunbelt without worrying about immigration issues, plus they will be able to save a great deal of income tax to boot.
Incredibly, we are getting some action in the US Congress and some believe since it is bipartisan, and being pushed by some senior Senators, that it has a good chance of passing this time around.
The bill, S. 1746, also proposes a homeownership visa that would allow Canadians of any age to live in the US year-round and save a bundle in income taxes too. To qualify, a Canadian would need to spend at least $500,000 in acquiring a US home and other US residential property.
This visa bill will cost virtually nothing, yet it will be an incredible jobs creator while simultaneously helping Canadians reduce their taxes and enjoy a lower cost-of-living lifestyle in a warm climate, without snow!
Although Canadians will not be able to work on the retirement or homeownership visas, these visas provide a bridge to a work visa with proper immigration planning.
Don’t expect it to become law within the first quarter of 2012, unless a major obstacle is thrown at it, and it is delayed until after the 2012 US elections in November.
If you have questions or want to discuss your current options for living on Maui, call me Mark Morris R(S) at 808 344 7855 or email me at MarkMorrisOnMaui@Gmail.com
Aloha, Mark
For more information on the new visas being proposed for Canadians, you may consult with the US State Department or read this blog post:
http://forum.keatsconnelly.com/yaf_postsm929_Text-of-S-1746-Section-5-Retiree-Visa-and-Section-8-Homeownership-Visa.aspx#929