By Marta Lillo
August 21, 2024
The EB-5 visa program underwent significant changes with the implementation of the EB-5 Reform and Integrity Act of 2022 (RIA) in 2022, introducing new set-aside categories tailored to specific types of investments.
They apply to EB-5 projects located in high-unemployment areas (HUAs) in Targeted Employment Areas (TEAs), whether rural or urban; Rural TEAs; and, designated infrastructure initiatives in urban or rural TEAs.
The main feature and appeal of set-asides is that they offer priority visas for foreign investors seeking U.S. green cards through the EB-5 visa program and their reserved number of visas. The RIA has allocated 32% of the total annual EB-5 visa quota for set-asides, with 20% reserved for rural projects, 10% for HUAs, and 2% for infrastructure projects. The remaining 68% of annual EB-5 visas fall under the Unreserved category.
Because they have to be located in TEAs, EB-5 investors who choose set-aside projects can invest the minimum investment requirement of $800,000. Read More