The EB-5 Program offers a pathway to U.S. citizenship for foreign capitalists investing in job-generating ventures for a period of no less than two years; the program is administered by the United States Citizenship and Immigration Services (USCIS). Pursuant to CFR §204.6(i), the program reduces the $1 million minimum investment requirement to $500,000 if a project is located within a Targeted Employment Area (TEA), which is either an individual census tract, block group, contiguous set of census tracts, or contiguous set of block groups with an average unemployment rate of 150% or more than the national average rate. More information regarding the EB-5 application process and program can be found on the USCIS website here.
The State of Texas has delegated the authority to certify that a particular geographic or political subdivision meets the unemployment rate criteria to qualify as a TEA to mayors of cities or towns with a population of 20,000 or more, or which lie within a metropolitan statistical area. In order to tailor the EB-5 verification process to the needs of San Antonio, guidelines were created to bring the process in line with the City’s economic and development priorities as laid out in the SA Tomorrow Comprehensive Plan.
All applications for an EB-5 TEA designation from the City must follow the process below and submit all the appropriate documentation. If you would like to apply for this designation or have further questions, please contact the Economic Development Department .
The verification process established by the City of San Antonio for new EB-5 applications are: