Report: Green cards offered to Orlando stadium investors

by Paul Kennedy @pkedit, May 17, 2016

Orlando City owner Flavio Augusto da Silva has used his connections in his native Brazil to find investors interested in a cash-for-visa program that is helping defray costs of the $156 million soccer stadium set to open in 2017. The New York Times reported that a commitment to invest $500,000 in the downtown stadium gets foreign investors two season tickets plus a green card.

Da Silva came to the United States himself with a EB-5 visa from Brazil 2009 by investing in a project in Vermont. The EB-5 program targets projects in rural areas and poor urban neighborhoods, and the number of visas awarded grew to almost 9,000 last year.

“For us, it was a business decision,” said da Silva of the financial support he sought out for the stadium in the Parramore neighborhood of Orlando after he failed to secure state support. “There was already demand from people who want to move to the U.S., have a green card and have a good opportunity to participate in the growth of the club.”

So far, the project has attracted 30 investors for a commitment of $15 million The goal: 150 investors, or $75 million. Investors must be screened and prove their visa will create at least 10 jobs.