Indian nationals who are looking to obtain an EB-5 green card may be able to take a quicker path to permanent residency by investing in rural, high unemployment or infrastructure areas in the United States. This is according to the Visa Bulletin, which has highlighted certain projects that have obtained, or can obtain, expedited processing. Some of these projects have reported processing times of just nine to twelve months for I-526 applications.
Investing in these areas can also lead to potential savings, as the minimum required investment amount for projects in these areas is $900,000, compared to $1.8 million for investments in non-targeted employment areas. The EB-5 program offers investors an opportunity to obtain permanent residency for themselves and their families through an investment in a new commercial enterprise that creates at least ten jobs for U.S. workers.
Foreign National Investment
By investing in these targeted areas, Indian nationals may not only be able to expedite their path to permanent residency, but also potentially make a positive impact on the economy of these regions.
However, it’s important to note that processing times can vary and may be subject to change. Nonetheless, there are additional benefits for Indian nationals seeking an EB-5 green card. Those who are lawfully present in the US on non-immigrant visas, such as an H-1B or even a B-1/B-2, may be able to file concurrent Adjustment of Status cases with their I-526 initial applications. This means that they can stay in the US lawfully while awaiting the processing of their application. Once they receive work authorization through the EAD, they can work or even own and operate their own company.
The EB-5 program is a popular option for foreign nationals seeking permanent residency in the United States. Under this program, foreign investors can obtain a green card by investing at least $900,000 as previously stated. In a US commercial enterprise that will create at least ten full-time jobs for US workers. The program has been especially popular among Indian nationals seeking a path to permanent residency.
Understanding Investing in TEA for The EB-5 Visa
The EB-5 visa program offers foreign investors the opportunity to obtain permanent residency in the United States. To qualify for this visa, applicants must invest in a business located in a Targeted Employment Area (TEA). TEAs are areas that have experienced high unemployment or are rural areas. To help investors determine if their investment is located in an eligible TEA, IIUSA offers a free TEA mapping tool.
The tool allows users to enter an address and view a map of the surrounding area to see if it qualifies as a TEA. The map will show the boundaries of the TEA and indicate whether it meets the criteria for eligibility. Additionally, state agencies maintain their own lists or criteria for identifying TEAs, so investors can also use those resources to determine if their investment is located in an eligible area.
Investors should be aware that TEAs may change over time due to economic conditions and population shifts, so they should check regularly to make sure their investment remains eligible for the EB-5 visa program.
By investing in rural, high unemployment or infrastructure areas, Indian nationals may be able to expedite their EB-5 application processing time. This is because these areas have been designated as “Targeted Employment Areas” (TEAs) by the United States Citizenship and Immigration Services (USCIS), which means that they qualify for certain benefits and incentives under the EB-5 program.
Investing in a TEA project not only speeds up the processing time of an EB-5 application but also allows for a lower minimum investment requirement of $900,000, as opposed to $1.8 million for non-TEA investments. This can be a significant cost-saving for investors and can make the EB-5 program more accessible to a wider range of investors.
In summary, Indian nationals seeking an EB-5 green card may benefit from investing in TEA projects in the US. These projects may have expedited processing times and a lower minimum investment requirement.
How To Access The IIUSA’s TEA Mapping Tool
IIUSA’s TEA (Targeted Employment Area) mapping tool is a free online resource that can help potential EB-5 investors identify whether a specific location qualifies as a TEA. To use the tool, follow these steps:
- Visit the IIUSA TEA mapping tool website
- Enter the full address or latitude/longitude of the location in which you are interested.
- Click “Submit”
- If the location falls within a TEA as defined by the website, it will be marked in green on the map, and the relevant data will be displayed on the right-hand side of the screen. This includes, among other things, the name and location of the TEA, the area’s average unemployment rate, and a summary of the area’s population and median household income.
- If the location doesn’t fall within a TEA, it will be marked in red on the map.
It’s worth noting that while the IIUSA TEA mapping tool is a useful guide to determine if a specific location is classified as a TEA, final authority on the matter resides with the relevant state economic development agency or USCIS. It is highly recommended to consult with immigration attorneys or professional services specialized in EB-5 applications to confirm if the investment location is eligible for TEA classification.
Additionally, those who are lawfully present in the US on non-immigrant visas may be able to file concurrent Adjustment of Status cases with their I-526 initial applications, allowing them to stay in the US lawfully and work or even own and operate their own company once they receive work authorization through the EAD. It’s important to consult with an experienced immigration attorney to determine the best course of action for your specific situation.
Conclusion
Foreign nationals looking to invest in the EB-5 program through a Targeted Employment Area (TEA) can potentially enjoy numerous benefits associated with the program. This includes the potential for permanent residence status in the United States, as well as access to employment, travel, and financial opportunities that may not be available in other parts of the world.
It is important to do thorough research before making any decisions regarding investment and eligibility criteria for this program.
