If you are planning to move to the United States via the EB 5 program and wondering what TEA is, you have arrived at the right place. Here, you will find complete info about the targeted employment area (TEA). If you do not know what a targeted employment area is, simply scroll down and check out why it is essential when going through the EB 5 visa program.
What are Targeted Employment Areas, and what do they matter?
Targeted employment areas are highly important because they accomplish two things. Firstly, they allow foreign investors to start their EB 5 visa program journey with $900,000 rather than usual $1,800,000 dollars. Secondly, they help TEA’s economy by creating jobs as well as tax revenue that the area would not develop on its own.
In general, most foreign investors want to immigrate to the United States through the EB 5 visa program by investing $1,800,000 dollars. But, it is possible to immigrate to the United States via the EB 5 program by investing $900,000 dollars. The reason is the project is located within a targeted employment area or TEA. The United States Citizenship and Immigration Services or USCIS recognized two types of targeted employment areas, including High Unemployment Areas and Rural Areas. Both of them have a set of qualifications that are explained below:
High Unemployment Areas: For this, the regional center must prove that the project should be located in a metropolitan statistical area and the area is experiencing an employment rate that is 150% higher than the national average.
Rural Areas: These areas are targeted employment areas that are not located within a metro statistical area, and the recent decennial census represents the population is less than 20,000. It means that regional center project cannot be located inside a large city. It should not have a population of more than 20,000 people.
To help you determine if a regional center project is in a targeted employment area, simply approach a reliable service provider. Today, there are a number of companies that assist investors in EB 5 visa programs, TEA, and more. If you want to make your process easy and smooth, just approach a reliable service provider and hire their services.