Rural TEA investment projects offer an option for foreign investors to obtain permanent residency swiftly, with a large number of rural visas currently available. This is an ideal time to take advantage of this opportunity before increasing demand for rural projects in the EB-5 program potentially leads to oversubscription.
Rural TEA projects fall under Targeted Employment Areas (TEAs). There are areas where the government encourages foreign investment to spur economic growth. Although long wait times and backlogs have been common, the EB-5 Reform and Integrity Act of 2022 (RIA) has introduced “priority processing” for rural EB-5 applications. This provision ensures that rural petitions are prioritized, speeding up the process compared to other EB-5 applications.
With the rural visa quota and priority processing in place, the approval process for rural EB-5 petitions is significantly faster. As of now, generally, there is no waiting list for the rural TEA category, and investors only need I-526E approval to proceed with their Green Card application. Post-RIA, some rural TEA investors have received petition approval in less than a year—an unprecedented speed in the EB-5 process.
Who Is Eligible to Invest Through a Rural EB-5 Project?
To be eligible for the rural EB-5 program, investors must meet the standard EB-5 requirements, including making the minimum investment and demonstrating that their funds are lawful. The investment must be made in a new business in a designated rural area. Both the investor and the project must meet the rural EB-5 rules.
How Long Does the Green Card Process Take Under the Rural EB-5 Category?
Rural EB-5 cases are often processed faster than regular EB-5 cases because they get priority and have reserved visas. The exact timeline depends on each person’s situation, USCIS workload, and visa availability. However, rural EB-5 investors usually receive quicker decisions on their I-526E petitions and shorter waits for visa numbers, especially compared to those from high-demand countries.
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