What is a TEA Area in the US and its Influence on obtaining the Green Card with EB-5

The Federal EB-5 Program allows obtaining a Green Card in the USA with a minimum investment of $800,000 if it is made in high-unemployment areas known as TEAs (Targeted Employment Areas). Learn the details and their importance with BAI Capital.

The EB-5 Program is an initiative of the United States Citizenship and Immigration Services (USCIS) designed to stimulate the U.S. economy through job creation and capital investment by foreign investors.

One of the key components of this program is the “Targeted Employment Areas” or TEAs. Understanding what a TEA is and how it relates to the EB-5 Program can be crucial for investors seeking the best path to obtaining a Green Card through EB-5.

What is a TEA Area?

A Targeted Employment Area (TEA) is a designated area within the United States that meets certain criteria established by USCIS to qualify for a reduced investment under the EB-5 Program.

This means that the investment amount is $800,000 as opposed to the $1,050,000 required for projects not qualified as TEAs. Additionally, investing in a TEA project also allows access to other benefits, such as expedited Green Card processing when there are delays in the country of origin (primarily Asia).

TEAs are divided into two main categories:

1. High-Unemployment Areas: These are areas that have an unemployment rate at least 150% above the national average. These areas are typically urban zones with significant economic problems.
2. Rural Areas: These are areas that are outside a city with a population of 20,000 or more and outside metropolitan statistical boundaries.

The most important thing to understand at this point is that both types of TEAs have the same benefits both economically and in terms of priority visa processing.

Benefits of Investing in a TEA Area

The main benefit of investing in a TEA area is the reduction in the amount of capital an investor must commit. For investments outside TEAs, the minimum required amount is $1,050,000.

However, if the investment is made within a TEA, the minimum amount is reduced to $800,000. This difference can make the program more accessible to a larger number of investors.

EB-5 Program Requirements and Process

To qualify for a Green Card through the EB-5 Program, investors must meet several requirements, including the capital investment of $1,050,000 in a new commercial enterprise in the USA or $800,000 if the investment is made in a TEA, as mentioned.

Additionally, the investor must demonstrate the legal source of the investment, which is done with the help of immigration lawyers and accounting professionals.

Lastly, the program requires the creation of at least 10 full-time jobs for each EB-5 investment to meet the goal of stimulating the country’s economy.

Generally, the company in which the investment is made is responsible for the creation and management of these jobs, although if the investor wishes, they can also participate in the process.

Archer Place: Real Estate Project Located in a TEA Area and in front of the University of Florida

Currently, BAI Capital is developing Archer Place, a strategically located real estate project at the busiest intersection in the city of Gainesville and in front of the University of Florida. It will feature a building with 92 luxurious apartments for living or renting with the highest quality and technology, 19 of them located in penthouses, 7 of which will have a private pool. Gym, theater, clubhouse, barbecue, and pool are just some of its facilities.

Despite its location and being very close to Florida’s major cities, the land where Archer Place is located is considered a Targeted Employment Area or TEA, qualifying for a reduced investment of $800,000 instead of $1,050,000 for obtaining the Green Card through EB-5 investment.

With this, Archer Place positions itself as an excellent EB-5 investment opportunity and one of the most anticipated real estate projects in the city.

Targeted Employment Areas (TEAs) play a crucial role in the EB-5 Program, offering a reduced investment path to obtain the Green Card. By investing $800,000 in a TEA, investors can not only meet the program’s requirements but also contribute to economic development and job creation in needy communities.

This mutually beneficial approach makes the EB-5 Program an attractive option for both foreign investors and developing areas in the USA. However, it is crucial for investors to conduct proper research and consider all risks before embarking on this process.