Pangaea is federally approved by the USCIS to provide EB-5 capital to projects and promote job creation in the following economic sectors:
1141 – Fishing Seafood
3117 – Seafood Project
Approved Geography - The Pangaea Regional Center’s approved geographical area includes three counties of Kentucky (Fulton, Graves and Hickman) and two counties of Tennessee (Obion and Weakley). Within the District, Pangaea limits project locations to Targeted Employment Areas (“TEA”). TEAs allow immigrant entrepreneurs to place $500,000 to create 10 full time direct and indirect jobs instead of the customary $1,000,000 for placement outside of a TEA.
The combined value of finding opportunities located both inside the Regional Center and inside a TEA provides both:
(i) direct and indirect job credit; and
(ii) a lowered investment threshold to $500,000 to the entrepreneur.
What is a Regional Center?
A “Regional Center” (“RC”) is a special designation issued by the USCIS. The designation provides major benefits to immigrant entrepreneurs seeking residency using the EB-5 program. Pangaea received the RC approval and designation on September 13, 2013 to operate in Kentucky and Tennessee. View Pangaea's Designation Letter.
The EB-5 program counts both direct and indirect jobs created by the immigrant applicant, but will only do so for immigrants that apply through a federally designated regional center. In the case of applicants who do not participate in the regional center, only direct jobs are counted. If the applicant participates with a regional center, both direct and indirect jobs are counted towards the 10-job requirement.
Pangaea believes one of the most important advantages of working with a designated RC is relaxed job creation requirements. The immigrant must prove he created and sustained 10 new, direct employees over a 24-month period. Under the Pangaea program, however, the immigrant can satisfy residency testing by showing the 10 jobs through a combination of direct and indirect job creation.
Another RC advantage is that immigrants may pool capital thereby reducing management responsibilities while increasing job creation results.
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