Looking for a "green card" or to invest in an Orlando business?

Friday, July 25, 2008
Foreigners invest locally in return for green card
Orlando Business Journal - by Dan Ping

Rob Sutton wants to attract foreign investors to fund an expansion of Lake Buena Vista Resort Village & Spa.

The U.S. Citizenship and Immigration Service will decide next month whether or not to name Central Florida as a major hub where local businesses can tap into a new source of foreign investment -- up to $10 billion annually.

It's all part of the EB-5 Immigrant Investor program, which allows foreign investors to eventually become permanent U.S. residents. It was created by Congress in 1991 to spur foreign investment and create new jobs in the U.S.

Until now, the program has gotten little attention. In fact, the U.S. Citizenship and Immigration Service last year issued only 780 visas out of 10,000 set aside annually. Spokesman William Wright estimates the agency will issue 1,000 EB-5 visas this year.

But that may change as businesses search for capital during a time when the credit markets in the U.S. have tightened significantly.