Overseas job opportunities aren’t new in the Indian scenario. Overseas business exchange programs and skilled labour supply had been there for a long time. Over the past few years, the United States of America has witnessed a massive influx of skilled professionals from all parts of the world. However, a majority of these professionals hail from India and travel to the US on work permit.
It’s here that you will come across a new concept known as the H1B Visa permits. Although most of the people are aware of this document, some of the readers might not know its use and significance. Here’s a short account of H1B Visa and its clauses on real estate.
What’s an H1B Visa?
If you wish to travel abroad for business trips or onsite jobs, an H1B Visa is all you need. The H1 Visa grants permission to work abroad with sponsorships from an employer. Since employers’ sponsorships happen to be a highly crucial part of this work permit, the employee might come across several instances of exploitation.
On the other end, the H1B Visa also protects employer rights. In quite a few cases, employees leave a job for better opportunities. The H1B Visa prevents them from leaving a job midway before a stipulated period.
Effects and clauses
The H1B Visa or work permit comes with various clauses. From the housing facilities of the employee to his wage standards, employment agreements, fringe benefits, working conditions, and real estate investments, this particular Visa determines numerous aspects.
If you are working with an H1B Visa, it’s highly essential to know its effects and clauses for financial investments. Here are some of its clauses for real estate:
1. Right to ownership
Employees can buy real estate properties in the US. You will get loans for your property investments too.
2. Higher mortgage rates
Those working on H1B Visa might have to pay higher mortgage rates. Since they aren’t citizens of that particular country, mortgage rates will vary.
Whether you are working on an H1B Visa or not, real estate investments are necessary. Invest in the flats in Mulund and make profitable property investments.