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> News of the day < Commercial real estate prices increased in September, according to Moody’s/REAL Commercial Property Price Indices, Moody’s Investors Service said Wednesday. |
The housing market is at an all-time low. Consumer confidence has plumetted. Sales are down in almost every industry and one company after another is laying off employees. Is any business immune to the downturn in the economy?
American real estate agents say there’s a surefire way to help the country’s plummeting real estate market: Let foreigners retire here after they buy.
Miami agent Tony Macaluso is leading the charge to create a special new “Silver Card visa” that would ease restrictions on older immigrants — but the National Association of Realtors, Congress and the State Department aren’t biting just yet.
“This idea would be for someone who is over 50, who is retired, who has proof of income, who is not relying on our health care system or our welfare system,” Macaluso told FOX News.
“When they come here it would be on a non-work visa, so they would be retired [and] their wealth that they are earning in another county would be spent here in the United States. And if there is something we could clearly use is more money coming into the country,” he cotinued.
Foreign nationals who no longer work, but desire to spend their golden years in the United States can currently buy property here — and many do.
But most of them have only tourist visas and must leave the country every six months and wait a few months more before they can re-enter the United States.
“I don’t want to leave,” said French citizen Estelle Nezel, who owns property but lives in the U.S. on a tourist visa. “I just want to stay here.”
Other countries have realized the economic value of foreigners and the retirement capital flowing in to their nations.
Mexico, Panama and Costa Rica all encourage wealthy retirees to live in their respective countries with special visas, and even offer tax incentives. Partly because of this, an estimated 1 million Americans have retired to Mexico, 65,000 to Panama and another 35,000 to Costa Rica.
Nezel says she’s an example as to why it makes sense.
“If I stay here, I rent a car, I go shopping, I spend money. I’m not taking anything from America. On the contrary, I’m just giving,” she said.
While the National Association of Realtors has studied the “Silver Card” idea, it has yet to take a stand on it. The U.S. State Department, which issues more than 80 different types of visas, doesn’t comment on proposals before they’re mandated by Congress.
In the meantime, while Macaluso and other real estate agents struggle to find home buyers in dire economic times, they continue to work to persuade anyone who will listen of the advantages of a “silver card visa” for the United States.
“We need to step up to the plate saying, ‘This is a really great place to be. We have a fine country we would like you to share. We would love you to come and spend your retirement funds here within our borders,’” Macaluso said.
Historic Real Estate Inc. Gets Aggressive Despite National Slowdown in Real Estate Development
Research and Markets ( http://www.researchandmarkets.com/research/3beb0e/the_meandering_pat) has announced the addition of the “THE MEANDERING PATH: Investment Regime for Indian Real Estate Sector” report to their offering.
The pull factors embedded in the booming economy of India seem to offer great succour to the global investor scathed by the economies of the western world especially the sub-prime crisis in the US. Just as water seeks its own level, global investment, too, is gushing into real estate in India; its meandering path is revealed in detail in the following write-up. The various routes permissible within the Indian legal framework and the sluice gates that have been set up to channelise the barrage of foreign investments flowing into the real estate sector in India have been exposed threadbare. An exit after securing good returns after a period of time through the labyrinths of tax structure is the dream target of every global investor parking his money in the Indian realty mart.
Capturing the Indian Market Dynamics
Global investment is gushing into real estate in India and its meandering path is revealed in detail by a leading real estate investment structuring expert in India.
Target Audience
Its readership base could comprise developers, capital market players, consultants to investors, from the VC/PE communities, merchant bankers and managers of the evolving REITs and REMFs.
Towards Optimal Solutions
– The pull factors embedded in the economy of India, growing at 8%-9%, are offering a great succour to the global investor scathed by the downturn in the economies of the West, especially the sub- prime crisis in the US.
– The expanding industrial sector in India coupled with the liberalisation of the Foreign Direct Investment (FDI) by the Government of India have caught the fancy of some of the biggest names including Goldman Sachs, Morgan Stanley, JP Morgan, Grand Vision, Citigroup, Emmar and so on.
Key Topics Covered:
The Growth Story of Real Estate Sector in India
Regulatory Snapshot
Investment Framework
Investment in Real Estate through Foreign Direct Investment (FDI)
Route
Investment in Real Estate through Foreign Venture Capital Investors
(FVCI) Route
Investment in Real Estate Sector through Non Resident Investment
(NRI) Route
Regulatory Concerns
Other Regulations
Tax Incentives
Direct Investment Standard Structure
Investment through Intermediary Holding Company
Investment through Multiple Holding Companies
Investment Instruments
Fund Structuring
Exit Strategy
Tax Planning Solutions
Key Direct Tax Issues
Key Indirect Tax Issues
Some Challenges
Companies Mentioned:
– Goldman Sachs
– Morgan Stanley
– J P Morgan
– Grandvision
– Citigroup
– Emmar
– Milestone Capital Advisors Private Limited
– Vodafone
– RSM & Co
– PriceWaterhouseCoopers
– Vision Express
For more information visit http://www.researchandmarkets.com/research/3beb0e/the_meandering_pat
