LONDON, June 25 (UPI) -- A visa change is allowing Britons to retire in the United States if they make a substantial investment in an American business.
If Britons invest from $500,000 to $1 million, under certain circumstances they can apply for an EB-5 investment visa to obtain a Green Card before arriving the Unites States, reported the Daily Telegraph Saturday.
For example, John and Carol Gay are planning to leave their home, children and grandchildren to retire in Florida.
To do so, the couple have invested $500,000 in a retail project in Seattle and they expect 6 per cent annual return. Since they do not have to live in the area in which they have invested they have sold their U.K. home for about $400,000 and purchased an equivalent sized house, with a pool, in Orlando, Fla., for about half of the cost of their British house.
The couple will have to buy U.S. medical insurance for about $7,200 a year.
"The annoying thing is that if one of us becomes ill during a holiday in England, we would not be covered by the National Health Service, despite the fact that we have paid national insurance all our lives," said John Gay.
