No, the EB-5 Immigrant Investor Program is a U.S. federal program, so its regulations are the same in every state. States were formerly in charge of designating targeted employment areas (TEAs), but the Department of Homeland Security (DHS) has taken over this role.
Since 1990, the EB-5 program has enabled thousands of foreign nationals to obtain permanent resident status and relocate to the United States. United States Citizenship and Immigration Services (USCIS) is in charge of overseeing the program. Because EB-5 investments provide qualifying business with a valuable source of capital, the U.S. economy has benefited greatly from the EB-5 program. Moreover, the high-net-worth, successful individuals who participate in the EB-5 program enrich the United States once they become lawful permanent residents. Most EB-5 investments are made in new commercial enterprises (NCEs), businesses that were created or restructured after November 29, 1990.
Perhaps the most important objective of the EB-5 program is to stimulate job creation; each EB-5 investor is required to create at least 10 full-time (at least 35-hour) jobs for U.S. workers. Each position must last for a minimum of two years, and EB-5 workers must be lawfully authorized for employment in the United States. EB-5 investors are also given the option of investing in troubled businesses, which are in dire need of funds. In these cases, investors can preserve 10 existing jobs instead of creating new ones.
The minimum investment amount for the EB-5 program is $1,800,000, but this amount is reduced to only $900,000 for projects located in TEAs. This lower investment requirement encourages investors to choose projects located in TEAs, which are either rural or high-unemployment areas in great need of economic development.
In addition to the above regulations, USCIS requires investors to prove that their EB-5 capital was lawfully sourced and that the funds remain at risk. Retaining an immigration attorney is essential to ensure compliance with USCIS regulations.