ESTATE


Resort lures investors with green card offer
2009/02/10, 7:15 pm
Filed under: 1 | Tags: ,

Lake Buena Vista Resort Village & Spa near Orlando, Fla., obtained permission from the U.S. government to experiment with an innovative approach to encourage development.

An approved immigrant who makes a $1-million cash investment in the under-construction hotel, outlet mall and spa will receive a conditional EB-5 visa to live in the U.S., and ultimately a green card. Immediate family will also receive similar credentials. Each $1-million investment is supposed to create 10 full-time jobs for U.S. workers.

Lake Buena Resort Village & Spa is one of 35 such centers and the only one that isn’t in a rural or high unemployment setting.

So far, investors from Russia, China, Venezuela and Canada have considered the proposition, but no one has accepted Lake Buena Vista’s offer, says Larry Behar, an immigration lawyer for the projects.

Source: The Orlando Sentinel, Sara K. Clarke (02/09/2008)

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