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The EB-5 Immigrant Investor Program provides a pathway to permanent residence in the United States through qualifying investments. It was established to attract foreign capital, create jobs, and give investors and their families the right to live, work, and study in the US.
Significant reforms came with the EB-5 Reform and Integrity Act of 2022, which introduced stronger compliance rules, integrity safeguards, and reserved visa set-asides for specific projects. These measures have changed how the program operates and who may benefit.
We have crafted this guide to provide investors, their families, and professional advisers with a comprehensive understanding of the EB-5, drawing on established guidance from USCIS and the USCIS Policy Manual to highlight one of the most significant US immigration routes.
The EB-5 is an employment-based immigrant category that offers conditional permanent residence to a qualifying investor, together with their spouse and unmarried children under 21. It is designed to channel foreign investors into the US economy and support job creation.
There are two pathways:
Standalone (direct) investment into a new commercial enterprise that creates qualifying direct jobs.
Regional Centre investment, where capital investment is pooled, and qualifying indirect (and, where applicable, direct) jobs may be counted under recognised economic methodologies.
At its core, EB-5 turns on a few decisive elements: the minimum investment threshold, job creation of at least ten full-time roles, and whether the project qualifies for rural, high-unemployment (TEA), or infrastructure treatment. The program also includes reserved visa standbys for these categories, which can affect visa availability.
Successful applicants first obtain a two-year conditional green card. Near the end of that period, they must demonstrate that the investment remained at risk, the business plan was executed, and the required jobs were created or maintained to remove conditions and secure permanent residence.
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Benefits of the EB-5 Visa
The EB-5 Immigrant Investor Program offers more than just a pathway to permanent residency. It opens opportunities for family stability, professional freedom, and long-term security in the United States.
Permanent residence for the whole family
The EB-5 provides green cards for the investor, spouse, and unmarried children under 21, ensuring long-term security and the chance to build a future together in the United States.
Freedom to live, work, and study
EB-5 investors can live in any US state, pursue employment in any sector, and access education opportunities nationwide without location or sponsorship restrictions.
Access to the US education system
Children of EB-5 investors benefit from world-class schools and universities, often qualifying for in-state tuition rates that reduce overall education costs considerably.
Pathway to US citizenship
After holding permanent residence for the statutory period, EB-5 investors and their families may apply for naturalisation and gain the full rights of US citizenship.
No employment sponsorship required
Unlike other visa categories, EB-5 applicants are not dependent on employer sponsorship, giving them independence and freedom to pursue careers or entrepreneurial opportunities.
Reserved visa set-asides
Recent reforms created priority visa categories for rural, high-unemployment, and infrastructure projects, offering faster processing and additional opportunities for qualifying investors.
In essence, the EB-5 combines family security, professional flexibility, and a clear route to citizenship within one investment framework.
Who’s Eligible for the EB-5 Visa
Principal Investor
To qualify as the principal applicant, you must be admissible in the United States, demonstrate that your investment funds come from lawful sources, and be willing to place your capital “at risk”.
In addition, you must intend to engage in the management of the enterprise, either through day-to-day oversight or by participating in policy formulation.
Eligible Family Members
Your spouse and unmarried children under 21 may also qualify as derivative applicants. The Child Status Protection Act (CSPA) may allow certain children who turn 21 during the process to retain eligibility, depending on how their age is calculated under the visa availability formula.
Grounds of Inadmissibility
Applicants must not fall within the general grounds of inadmissibility under US law, which include medical issues, certain criminal convictions, prior immigration violations, or misrepresentation.
In limited situations, waivers may be available.
INA § 203(d) — Defines eligibility of spouses and children as derivative beneficiaries. (source ↗)
USCIS Policy Manual, Vol. 6, Part G — Guidance on EB-5 investor eligibility and requirements. (source ↗)
USCIS Grounds of Inadmissibility — Overview of medical, criminal, and immigration-related grounds. (source ↗)
EB-5 Visa Program Requirements
EB-5 Investor Program Requirements
To qualify under the EB-5 program, both the capital investment and the project must meet strict statutory and regulatory requirements.
These rules ensure the investment is genuine, job-creating, and compliant with oversight standards.
Investment amount
A qualifying investment must meet the statutory minimum. A reduced threshold applies in rural, high-unemployment TEAs, or infrastructure projects, subject to CPI-based adjustments.
Capital at risk
Funds must face a genuine chance of loss and opportunity for gain. Guaranteed returns or redemption rights are not permitted.
Job creation
Each investment must create at least 10 full-time qualifying jobs. Regional Center projects may also count indirect and induced jobs within USCIS limits.
NCE and JCE structures
Investments flow into a New Commercial Enterprise (NCE) which may fund a Job-Creating Entity (JCE). Business plans must be detailed and credible.
Sustainment and redeployment
Capital must remain invested during the sustainment period. If repaid early, redeployment into another at-risk activity may be required.
TEA methodology
Targeted Employment Areas (TEAs) are defined by rural criteria or high-unemployment data. USCIS guidance sets who can designate them.
Project compliance & oversight
Projects must comply with USCIS integrity rules, including record-keeping, audits, and annual reporting to maintain approval and investor eligibility.
EB-5 Investment Thresholds & Visa Set-Asides (Post-RIA)
Investment thresholds and reserved visa set-asides are central to the EB-5 framework.
The table below presents the current minimums and set-aside allocations, taking into account periodic adjustments for inflation.
Route
Minimum investment
Where / scope
Rules
Use limits
Notes
Standard (non-TEA)
USD 1,050,000
General / nationwide
Must not qualify as TEA, rural, or infrastructure
Uses unreserved pool
Adjusted for inflation every 5 years; next scheduled 2027
TEA – Rural
USD 800,000
Targeted Employment Areas – rural
Must meet TEA rural criteria
20% of visas reserved
Unused visas may carry over within statutory limits
TEA – High-Unemployment
USD 800,000
Targeted Employment Areas – high unemployment
Must meet TEA high-unemployment criteria
10% of visas reserved
Unused visas may carry over within statutory limits
Infrastructure Projects
USD 800,000 (TEA threshold)
Qualifying infrastructure projects
Must meet statutory/regulatory definition; often requires local government involvement
2% of visas reserved
Considered part of TEA framework; special set-aside
What Changed Under RIA 2022
The EB-5 Reform and Integrity Act of 2022 introduced the most significant updates to the program in more than a decade. Key changes include:
Investment Minimums: Standard minimum set at USD 1,050,000; reduced threshold of USD 800,000 for rural, high-unemployment, or infrastructure projects. Figures now adjust every five years for inflation.
Reserved Visa Set-Asides: 32% of EB-5 visas are now reserved: 20% for rural, 10% for high-unemployment, and 2% for infrastructure projects. Reserved categories may advance faster in practice.
Targeted Employment Area (TEA) Rules: Definitions tightened: 'rural' is fixed by statute, and high unemployment must be based on census tract or metro-area data. USCIS makes the final determination.
Regional Centre Programme: Reauthorised through 2027 with new compliance obligations. Investors can again use Regional Centers but must meet stricter oversight requirements.
Integrity & Oversight Measures — Annual audits, site visits, promoter registration, and the Integrity Fund fee (USD 10k–20k annually) now apply. These measures aim to protect investors and increase transparency.
These reforms modernise the EB-5 framework by creating stronger safeguards, clearer eligibility rules, and a more transparent system that balances investor opportunity with program credibility.
Public Law 117-103 (RIA 2022) Statute enacting the EB-5 Reform and Integrity Act, including investment minimums, visa set-asides, and oversight regime.
(source ↗)
USCIS Policy Manual, Vol. 6, Pt. G USCIS policy guidance on EB-5, updated post-RIA with integrity and compliance provisions.
(source ↗)
8 CFR 204.6 Code of Federal Regulations setting EB-5 requirements on investment, TEAs, and job creation.
(source ↗)
EB-5 Visa Application Lifecycle & Timeline
Intro
The EB-5 process is not a single filing but a sequence of applications, each with strict evidence requirements and deadlines.
Understanding the lifecycle helps investors anticipate what lies ahead and prepare accordingly.
EB-5 Application Timeline
Step 1 (Project prerequisite)
If investing through a Regional Center, the project sponsor must first file Form I-956F. Only once accepted can individual investors submit their petitions.
Step 2 (I-526/I-526E Petition)
The investor files Form I-526 or I-526E, documenting lawful source of funds, proof capital is at risk, credible business plan, and TEA eligibility if claimed.
Step 3 (Visa Availability Check)
Applicants must confirm whether a visa is available for their country of chargeability by consulting the Department of State’s monthly Visa Bulletin charts.
Step 4 (Concurrent Filing)
If a visa is immediately available, investors in the U.S. may file Form I-485 together with I-526E, enabling earlier work and travel authorization.
Step 5 (AOS or Consular Processing)
Eligible applicants adjust status via Form I-485; those abroad complete consular processing with DS-260. Both require biometrics, security checks, and admissibility review.
Step 6 (Conditional Residence)
Approval grants a two-year conditional green card. Investors and family receive lawful permanent resident status but must maintain residence and meet investment obligations.
Step 7 (Sustainment Period)
During the two-year conditional phase, capital must remain invested and jobs must be created. Redeployment rules apply if funds are returned early.
Step 8 (I-829 Petition)
Within 90 days before conditional residence expires, Form I-829 must be filed, proving job creation and continued investment. Approval removes conditions permanently.
Factors such as Requests for Evidence (RFEs), visa retrogression, security checks, or incomplete project documentation can delay each step. Preparing early reduces these risks.
Evidence of 10+ jobs, sustainment of investment, capital still at risk
Must file 90-day window before CPR expiry
RFEs possible; failure to file leads to loss of status
Breaking the process into clear steps helps investors and advisers monitor progress, expect delays, and meet USCIS and DOS requirements during the EB-5 journey.
EB-5 Visa Official Government Fees
Government filing fees for EB-5 petitions are subject to change. Always confirm the latest amounts using the USCIS Fee Schedule (Form G-1055).
Integrity Fund
Beyond form fees, the EB-5 Integrity Fund requires Regional Centers and promoters to pay an annual fee (USD 10,000–20,000 depending on size).
This is due each October and supports audits, investigations, and compliance oversight.
Schedule of Official USCIS Filing Fees for EB-5 Investors
Form number
Purpose
Biometrics Y/N
I-526 / I-526E
Immigrant petition by investor (standalone or regional center)
No
I-485
Adjustment of status (for applicants already in the U.S.)
Yes
DS-260
Immigrant visa application (consular processing abroad)
No
I-829
Petition by investor to remove conditions
No
I-956F
Application for approval of regional center project
Fee amounts and structures are updated through USCIS fee rules in the Federal Register. Always confirm official figures before submitting any petition; treat this table as a framework only.
EB-5 Visa Processing Times
USCIS does not publish fixed processing times. Instead, applicants must use the USCIS Processing Times tool to get estimates for each form type and service centre.
Always note the snapshot date (the day you checked) so your reference stays accurate if times shift later.
Why Times Vary
Processing times vary by service centre and can change from month to month. They also reflect median and percentile ranges, not guarantees.
This means one investor’s case may move faster (or slower) than the posted average.
Forms to Track
For EB-5 cases, the main forms to verify are:
I-526 / I-526E — Immigrant petition by investor (direct or Regional Center)
I-485 — Adjustment of status (for applicants already in the U.S.)
I-829 — Petition to remove conditions on permanent residence
Treat USCIS times as moving estimates, not promises. Checking the official tool before every major step is the best way to stay grounded and set realistic expectations.
Removal of Conditions (I-829) & After
EB-5 investors must file Form I-829 within the 90-day period immediately before the second anniversary of receiving conditional permanent residence.
USCIS may accept late filings if the investor can demonstrate "good cause and extenuating circumstances" for the delay.
Evidence Required
The petition must include proof that:
The required investment has been sustained during the two-year conditional period, and
The investment has created (or will create within a reasonable time) at least 10 full-time jobs for qualifying U.S. workers.
Pending Status Benefits
While the I-829 is pending:
The receipt notice extends both work and travel authorisations for the investor and qualified family members.
If additional proof is needed for travel or employment, USCIS may issue an ADIT (I-551) stamp in the passport, which serves as temporary evidence of lawful permanent residence.
After Approval
Once the I-829 is approved, the investor and family members become unconditional permanent residents. They may then apply for U.S. citizenship after meeting the statutory residence requirements.
Frequently Asked Questions
Yes. If a visa number is immediately available, foreign investors in the U.S. may file Form I-485 with Form I-526E. This concurrent filing gives earlier access to immigration services like work and travel authorization, provided the necessary investment is properly documented and petitions filed correctly.
No. Immigration law requires each capital investment to be “at risk.” This means there must be a real chance of loss and gain, not a promissory note or redemption guarantee. EB-5 is about promoting economic growth and American job creation, not fixed returns.
You cannot move forward with status adjustment until your priority date becomes current in the State Department’s Visa Bulletin. Reserved set-aside categories (rural area, high unemployment area, infrastructure) may remain open while unreserved visas retrogress, so monitoring monthly charts on the USCIS website is essential.
Congress created the regional center program to channel investment into projects. If one is terminated, investors may keep eligibility if they invested in good faith, met job creation requirements, and paid appropriate fees. USCIS applies integrity rules such a way as to protect compliant immigrant entrepreneurs.
Switching projects after petitions filed is risky. Material changes to the business plan, TEA designations, or outer boundary of a metropolitan statistical area can lead to denial. Always seek appropriate professional advice before making changes that could affect eligibility or job creation requirements.
Construction jobs can count toward the necessary investment’s job creation requirements if they last at least two years. In Regional Center projects, many jobs are created indirectly or created indirectly through economic models, but USCIS reviews these claims carefully to ensure real American job creation.
Yes. EB-5 allows investment in a troubled business if the necessary investment preserves at least ten existing jobs. This route recognises the economic growth value of saving employment, though rules differ from starting new ventures. Investors must provide strong documentation to meet USCIS standards.
Yes. Each family member must hold a valid passport to complete consular processing with the National Visa Center or attend biometrics appointments. Passports are required for travel, immigrant visas, and ultimately for receiving conditional permanent residence as part of the EB-5 immigration services process.
The investment amount is set by statute and adjusted periodically. Currently, higher thresholds apply for standard projects, while reduced levels apply in a rural area or high unemployment area. Always confirm current figures on the USCIS website before filing.
Yes. Citizenship and Immigration Services and the Department of Homeland Security conduct security checks on all petitions filed. Background screening protects national security while allowing foreign investors to support economic growth and American job creation.
The regional center program was created by Congress and must be regularly reauthorized. President Biden signed the latest reauthorization into law in 2022. Earlier lapses during the Trump administration showed why congressional approval remains critical for program continuity each fiscal year.
Final Thoughts
The EB-5 Immigrant Investor Program continues to stand out as one of the most direct paths to permanent residence in the United States. By combining capital investment with clear job creation requirements, it serves both the interests of foreign investors and the broader goal of promoting economic growth.
For families, the program offers long-term stability, access to education, and, eventually, the opportunity to pursue U.S. citizenship. Yet it is not without complexity; rules evolve, filing dates shift, and compliance standards remain high.
Staying current with USCIS updates and seeking appropriate professional advice are essential to success. For those prepared, EB-5 can be a transformative route to building a secure future in America.
Your EB-5 journey, guided with confidence.
We assist investors and families through every step of the EB-5 process — from structuring the investment to filing petitions and preparing for removal of conditions.
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Written by:
Dean Fankhauser
Immigration Expert
Dean is an immigration expert at Movingto. He helps with all migration needs for people looking to move to Spain and Portugal, with a particular focus on Golden Visas
Dean is an immigration expert at Movingto. He helps with all migration needs for people looking to move to Spain and Portugal, with a particular focus on Golden Visas
Radica is a Senior Editor at Movingto. She has worked for more than a decade at leading publications as an Editor across immigration and travel industries.
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