Rural TEA EB-5 Projects in New York

EB5AN’s Northeast Regional Center for New York

EB5AN has established the Northeast Regional Center to provide EB-5 visa applicants with best-in-class investment opportunities throughout the entire state of New York. The Northeast Regional Center is expected to receive USCIS approval in 2023, at which time it will be licensed to sponsor EB-5 investment projects in all 62 counties in New York. New York’s strong economy makes it an ideal location for rural TEA projects.

EB5AN-sponsored rural targeted employment area (“TEA”) projects in New York provide EB-5 investors with a high level of both immigration and financial safety. And a rural TEA investment is one of the fastest ways for immigrant investors to relocate to the United States with their families.

EB5AN has helped more than 2,000 families start on the immigration process toward an EB-5 Green Card. Many of these families made investments in rural TEA projects.

Foreign investors looking for a quick way to immigrate to the United States as permanent residents are invited to contact EB5AN for more information on available rural TEA projects.

What is a Rural TEA?

In the EB-5 immigrant investor visa program, TEAs are areas that show a significant need for economic development. These areas are the intended target for EB-5 capital funding. An area may qualify as a TEA either because of its high unemployment rates or rural status.

EB-5 projects located in rural TEAs are quickly gaining more importance in the EB-5 industry. Rural TEA projects offer many incentives for investors. These incentives were introduced by the EB-5 Reform and Integrity Act of 2022 (the “RIA”).

An EB-5 project’s location qualifies as a rural TEA if it meets the following criteria:

• Does not border a municipality with a population of 20,000 or more
• Does not fall within a metropolitan statistical area
• Does not have a population of 20,000 or more

United States Citizenship and Immigration Services (“USCIS”) is responsible for determining whether or not an area qualifies as a TEA. Foreign investors, however, must prove to USCIS that the project he or she invested in is located in a rural TEA. When an EB-5 applicant submits his or her Form I-526E, he or she must include relevant demographic statistics that prove the project is in a rural TEA.

USCIS accepts data from the latest 10-year national census and data from the U.S. Office of Management and Budget as valid indicators of rural TEA status. These statistics must be current as of the date an investor submits his or her Form I-526E. If the demographic information changes before the investor’s Form I-526E is filed, USCIS may not consider it valid proof of rural TEA status.

EB5AN’s free TEA map instantly shows whether any location in the United States qualifies as a rural TEA. The TEA map uses the latest demographic statistics.

Why Invest in a Rural TEA Project?

The standard minimum amount for an EB-5 investment is $1,050,000. Foreign investors who choose to invest in TEA projects are eligible to make a reduced investment of only $800,000.

A major benefit of investing in rural TEA projects, specifically, is the ability to get a Green Card more quickly. The immigration process is sped up in two ways: through priority processing of Form I-526E and through access to reserved visas.

Priority processing of Form I-526E means fewer delays for rural TEA investors. This perk is especially valuable given the trend of rising processing times and is only available for those who invest in rural TEAs.

Under the RIA, 20% of the annual number of EB-5 visas are reserved for investors in rural TEA projects. As long as these reserved visas remain available, rural TEA investors will be able to apply for their EB-5 visas upon receiving Form I-526E approval.

Access to these reserved visas especially benefits investors from countries undergoing visa retrogression. Retrogression occurs when a country has more EB-5 investors than it has available EB-5 visas. In such cases, investors often must wait many additional months—often years—before they can apply for and receive their Green Cards.

The only way for investors from retrogressed countries to avoid these delays is to obtain a reserved visa. In other words, while the supply of reserved rural TEA visas lasts, a foreign national who invests in a rural TEA project will have access to an EB-5 visa even if his or her country is in visa retrogression.

Access to reserved rural TEA visas currently represents a major opportunity for Chinese, Indian, and Vietnamese EB-5 investors who do not already live in the United States under another visa.

Why Invest in a Rural TEA Project in New York?

According to the U.S. Census, New York has a population of approximately 19,835,913. Of this, approximately 10,110,281 people are in the civilian labor force: 9,226,373 employed and 883,908 unemployed.

New York’s GDP per capita is $93,463.

More than 800 languages are spoken in New York City, making it the most linguistically diverse city in the world. A melting pot of cultures from around the globe, New York is home to many iconic structures and tourist destinations. Perhaps the most recognizable monument in the city is the Statue of Liberty, a gift from France to celebrate the United States’ success in building a viable democracy.

Central Park, an 843 acre park with artificial lakes, waterfalls, meadows, and wooded areas, is located between the Upper West and Upper East sides of Manhattan. It is the most visited urban park in the United States, with over 42 million visitors each year, and is the most filmed location in the world.

Rural TEA Counties in New York

New York is one of the best locations for rural TEA EB-5 projects.

Project locations in the following counties in New York are generally eligible as rural TEAs. This list is a useful way to find potential sites for rural projects.

Foreign investors should also be sure to check the relevant population data for a given location. As noted above, rural TEAs cannot be located in metropolitan statistical areas. They also cannot border or be located in a municipality with a population of 20,000 or more.

A best practice followed by many in the EB-5 industry is to check whether the project’s address qualifies as rural on EB5AN’s free TEA map. This map uses all relevant population data to determine whether an area qualifies as a rural TEA.

• Allegany
• Cattaraugus
• Cayuga
• Chautauqua
• Chenango
• Clinton
• Columbia
• Cortland
• Delaware
• Essex
• Franklin
• Fulton
• Genesee
• Greene
• Hamilton
• Lewis
• Montgomery
• Ostego
• Schuyler
• Seneca
• St. Lawrence
• Steuben
• Sullivan
• Wyoming