New York, NY asked in Employment Law, Real Estate Law and Immigration Law for New York

Q: What restrictions are there for Employment based Green Card holder to additionally invest into Stocks or Real Estate?

Dear Attorneys,

I would like to understand what are the law regulations and restrictions from investing into Stock Market or Real Estate properties (buy and hold) (multi family) for passive income for Employment-based Green Card holder (with IT specialty).

How passive income is determined and reflected on the paper?

From few phone consultations with other attorneys I didn't get much except that I should stay passive, whatever it means and that my Employment Based Green Card allows me to raise money only from the job, everything else considered as unauthorized employment.

My goal is to build up passive income addition to my salary with purchasing/selling stocks (not a day trading) and investing in real estate (become a landlord) without violation of Green Cart status.

I hope for your advises, thank you.

1 Lawyer Answer

Kelli Y Allen

Answered
  • Immigration Law Lawyer
  • Charlotte, NC

A: From an immigration law standpoint, as long as you are not doing anything to earn the income, you're fine. So you can own property, invest in stocks, etc. but you can't be "working".

1 user found this answer helpful

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.