Florida Soccer Team Attracting Investments Through Green Card Program

A Florida soccer team has adopted an unusual strategy to raise money for its new stadium that at the same time is helping foreign investors to obtain green cards. In its quest to build a new stadium in Parramore, the Orlando City SC is taking advantage of the Employment-Based Immigration Investor Program, better known as EB-5.

Under this program, foreign nationals who invest $500,000 or more in a project that will create jobs in an economically depressed part of the United States are eligible to receive a green card. Created in 1990, EB-5 has become controversial because of fears about foreign investments and their connections to money laundering and terrorism.

Any investors participating in these programs, however, are screened by federal agencies to prevent fraud and minimize security concerns. They must also wait more than a year to get their green card. Those who receive a temporary green card under the program must still wait five years to apply for citizenship status.

The Orlando City organization believes they will be able to raise half the cost of their new stadium using this program, while building interest in their team at home and abroad.

The team currently plays its games at Camping World Stadium while they await construction of their new home. By relying on foreign investment to build the stadium, they are reducing the burden on the public and the area’s local government while also creating jobs in the area

For answers to questions about the EB-5 program and other visa and green card programs, speak with the experienced Tampa-area immigration attorneys at the Law Offices of K. Dean Kantaras, P.A.

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