Sam Silverman, Managing Partner of EB5AN, a national EB-5 visa firm with over 2,300 foreign investors from 60 countries, is closely involved with the EB-5 Immigrant Investor Program. This program allows foreign investors to qualify for Green Cards by investing a minimum amount of capital into a U.S. business and creating at least 10 full-time jobs, with a focus on boosting the economy and creating jobs in targeted employment areas (TEAs) designated by the government.
The program, launched in 1990, offers lower investment thresholds for projects in rural and high-unemployment areas to encourage investments in these regions. However, recent developments have shifted the landscape of EB-5 investments, particularly in rural TEAs, with the enactment of the EB-5 Reform and Integrity Act of 2022 (RIA). One of the key reasons for this shift is the RIA’s priority processing provision, which has led to a surge in rural investment projects.
The RIA prioritizes the processing of rural EB-5 petitions, allowing investors to potentially avoid backlog and obtain Green Cards within months. This initiative aims to incentivize rural TEA investments as a solution to the challenges faced by investors due to long processing times and visa availability issues. The prioritized processing of rural EB-5 petitions offers a quicker path to Green Cards for investors, especially in the current absence of a waiting list for rural TEA category applicants.
The impact of priority processing on rural EB-5 investments is already evident, with many post-RIA investors receiving I-526E approval within a year, a notable improvement in processing times. This has resulted in a significant shift towards rural TEA investments, presenting foreign nationals with a promising opportunity to secure Green Cards quickly. However, as the demand for rural projects increases, there is a possibility of oversubscription in the future.
Given the unprecedented processing times and opportunities presented by rural TEA projects, Silverman now strongly recommends rural investments to investors considering the EB-5 pathway for U.S. permanent residency. He advises seeking professional guidance for due diligence and selecting high-quality rural EB-5 projects to mitigate immigration and financial risks. With the current expedited immigration opportunity offered by priority processing for rural EB-5 petitions, foreign nationals have a chance to streamline their Green Card application process.
