The EB-5 visa program is one of the most popular ways for foreign nationals to gain a green card in the United States. One of the key requirements for this type of visa is that a company has invested $1 million or more into a targeted employment area, which must have at least 10 jobs available.
Targeted employment areas are designated by states and metropolitan statistical areas as having high unemployment rates and low per capita income levels. If you need help understanding what it takes to qualify under this program, read on! We will cover everything you need to know about targeted employment areas in an EB-5 Visa Program:
What is Targeted Employment Area?
The targeted employment area (TEA) is one of the criteria which you must meet in order to be eligible for this program, and it determines where your investment can take place. There are different TEAs depending on what type of business you’re investing in, so make sure you find out more about them before proceeding with the EB-5 process!
In order to qualify for EB-5, you must create at least ten jobs in an area that has been targeted by the Secretary of Commerce. The TEA can be either rural or urban, but it must have unemployment rates that are at least 150% of the national average.
There are different types of TEA types:
Targeted Employment Area (TEA) for a Regional Center Project
This is where you will invest in rural and urban areas that have unemployment rates that are at least 150% of the national average. This type of project can be located in a rural or urban area.
Targeted Employment Area (TEA) for a Rural Project
This is where you will invest in rural areas that have unemployment rates that are at least 150% of the national average. This type of project can be located only in a rural area, and it cannot cross state lines.
Targeted Employment Area (TEA) for an Enterprise or Industrial Project
This is where you will invest in rural and urban areas that have unemployment rates that are at least 150% of the national average. This type of project can be located only in a rural area, and it cannot cross state lines.
Targeted Employment Area (TEA) for Urban Project
This is where you will invest in rural and urban areas that have unemployment rates that are at least 150% of the national average. This type of project can be located only in a rural area, and it cannot cross state lines.
Targeted Employment Area (TEA) for Retail or Services Project
This is where you will invest in rural and urban areas that have unemployment rates that are at least 150% of the national average. This type of project can be located only in a rural area, and it cannot cross state lines.
Targeted Employment Area (TEA) for Services Project with Job Creation Requirement
This is where you will invest in rural and urban areas that have unemployment rates that are at least 150% of the national average. This type of project can be located only in a rural area, and it cannot cross state lines.
Targeted Employment Area (TEA) for Manufacturing Project with Job Creation Requirement
This is where you will invest in rural and urban areas that have unemployment rates that are at least 150% of the national average. This type of project can be located only in a rural area, and it cannot cross state lines.
Just get in touch with a reputed service provider and gain more details about EB-5 TEA and how to obtain a green card without any hassle.
