Fla. Developer Offers Investors Green Cards

Foreigners with $1M cash can get US residence
By Ambreen Ali,  Newser User
Posted Jan 28, 2009 7:12 PM CST
The condo hotel seeking international investors is close to Walt Disney World and had many competitors before the housing market collapse.   (Disney)
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(Newser) – Foreigners still interested in the American dream can get permanent residence in the US by investing $1 million in a Florida condo-hotel project starved for credit. The government-approved offer gives investors a conditional visa in exchange for the investment, the Orlando Sentinel reports. If the foreigners can prove within two years that their investment has created 10 jobs in the area, they get a green card and full residency rights.

Wealthy Russians, Chinese, Venezuelans, and Canadians have expressed interest, but the 105 available slots remain unclaimed. “There seems to be less interest in immigrating to the US,” says a lawyer. The company insists the resort—partly built already with an outlet mall, spa, and 496 hotel suites—is lucrative, though few competing condo hotels have survived the subprime collapse.