For many, the path to living in the United States involves years of family petitions or employer sponsorships. But there is another distinct route designed for those who can make a significant financial contribution to the US economy: the EB-5 Immigrant Investor Program.
This program offers a direct pathway to a US green card for foreign nationals who invest in a US business and create jobs for American workers. The EB-5 visa is a powerful tool for achieving the American dream, but it is also one of the most complex and high-stakes areas of US immigration law.
At Remitly, we believe in empowering you with clear, comprehensive information to make informed decisions about your financial future. This guide will provide a comprehensive look into the EB-5 visa requirements, explain how to apply, and navigate the entire process from initial investment to receiving your permanent green card.
What is the EB-5 Immigrant Investor Program?
The EB-5 program was established to stimulate the US economy through capital investment and job creation by foreign investors. In return for this investment, the investor and their qualifying family members can apply for conditional permanent residence status. This can later be converted to Lawful Permanent Resident (LPR) status (a green card) if all conditions are met.
Defining the EB-5
The “EB-5” stands for Employment-Based Fifth Preference visa. It is an immigrant visa, meaning it provides a path to a green card, unlike temporary nonimmigrant visas. It is specifically reserved for individuals who are willing and able to make a substantial capital investment into a qualifying US business.
The core goals: capital investment and job creation
The entire program is built on two fundamental pillars:
- A significant capital investment: The investor must put a substantial amount of their own money “at risk” in a US business.
- Creation of US jobs: This investment must lead to the creation of at least 10 full-time jobs for qualifying US workers.
EB-5 visa requirements: Who qualifies?
The EB-5 visa requirements are strict and focus on three key areas: the investment amount, the job creation, and the lawful source of the investment funds. Meeting these criteria is essential for a successful petition.
The capital investment requirement
Investors must meet a minimum investment threshold, which varies depending on the location of the project. At the time of writing, the amounts are:
$1,050,000 USD: This is the standard minimum investment amount for most projects.
$800,000 USD: This lower amount is for projects located in a Targeted Employment Area (TEA).
A TEA is defined as either a rural area or an area that has experienced high unemployment (at least 150% of the national average).
The goal of the lower investment amount is to encourage development in areas that need it most. TEAs are designated by USCIS and now include infrastructure projects.
Importantly, the capital must be “at risk,” meaning it is subject to the potential for gain or loss, just like any other business investment. Simply depositing money in a bank account is not sufficient.
The job creation requirement
The investor’s capital must create or preserve at least 10 full-time jobs for qualifying US workers. These workers must be US citizens, lawful permanent residents, or other immigrants authorized to work in the US. The investor and their immediate family members do not count toward the 10 jobs. The jobs must be created within the two-year conditional residence period after the investor enters the US.
The lawful source of funds requirement
This is one of the most heavily scrutinized parts of the EB-5 visa application. The investor must provide detailed documentation proving that their investment capital was obtained through lawful means. This can include salary, profits from the sale of a business or property, inheritance, gifts, or other legal sources.
US Citizenship and Immigration Services (USCIS) requires a detailed paper trail to trace the funds from their origin to the EB-5 project, to ensure the money is not from illicit activities.
Understanding EB-5 investment options
An EB-5 investor has two primary investment models. The choice depends on how actively they want to be involved in the business.
Direct investment
In a direct investment, the investor either starts their own new commercial enterprise, invests directly into an existing troubled business, or expands an existing one. This model requires the investor to be involved in the day-to-day management or, at a minimum, in a policy-making role.
The job creation requirement is also direct; the new business must hire and employ the 10 US workers on its payroll. This option offers more control but also carries more personal responsibility.
Investing through a Regional Center
A Regional Center is an economic unit, public or private, that is designated by USCIS to promote economic growth in a specific geographic area. The vast majority of EB-5 investors choose this model.
When investing through a Regional Center, the investor’s capital is pooled with that of other EB-5 investors into a larger project, frequently a real estate development like a hotel, apartment complex, or mixed-use facility.
The key advantages are:
- No day-to-day operational involvement: The investor is typically a limited partner, satisfying the “policy-making role” requirement without needing to manage the project themselves.
- Indirect job creation: The job creation requirement can be met by direct jobs (employees of the project), indirect jobs, or induced jobs (jobs created in the wider community as a result of the project). This often makes it easier to meet the 10-job requirement.
How to apply for an EB-5 visa: The step-by-step process
The path to a green card through investment is a multi-stage journey that can take several years to complete.
Step 1: Find a qualifying project and make the investment
The first step is for the investor to conduct thorough due diligence and select a qualifying EB-5 project. If choosing a Regional Center project, this involves carefully vetting the Regional Center’s track record and the specifics of the investment offering. Once a project is chosen, the investor makes the required capital contribution.
Step 2: File Form I-526 or I-526E, Immigrant Petition by Alien Investor
With the investment made, the investor’s immigration attorney will file Form I-526 (for a direct investment) or Form I-526E (if investing through a Regional Center) with USCIS. This extensive petition includes all the documentation proving the investment, the lawful source of funds, and a comprehensive business plan detailing how the job creation requirement will be met.
Investors already in the US on another valid status may be eligible for concurrent filing of Form I-485 (Adjustment of Status) if an EB-5 visa is available.
Step 3: Obtain the conditional green card
Once the petition is approved and an immigrant visa is available, the investor and their qualifying family members (spouse and unmarried children under 21) can apply for the EB-5 visa. If they are outside the US, they will go through consular processing at a US embassy.
Upon approval and entry into the US, they are granted a two-year conditional green card.
Step 4: File Form I-829 to remove conditions
The final step occurs within the 90 days before the two-year conditional residency period expires. The investor must file Form I-829, Petition by Investor to Remove Conditions on Permanent Resident Status. This petition must prove that the full investment was sustained throughout the two-year period and that the required 10 jobs were created.
If the I-829 is approved, the conditions are removed, and the investor and their family become unconditional lawful permanent residents, eligible for 10-year green cards and, eventually, US citizenship.
EB-5 processing time and costs
Investors must be prepared for a significant financial and time investment. The EB-5 processing times and costs can vary based on factors like visa availability, country of origin, and project type.
Understanding the EB-5 processing times
Form I-526/I-526E: Processing typically ranges from twelve months to five years, or even longer. Investors in rural projects may benefit from priority processing, whereas investors from backlogged countries may face longer wait times due to limits on the number of visas.
Form I-829: Processing times for removing conditions can also take several years. Investors should check the official USCIS website for the most current processing time estimates.
A breakdown of investment and administrative fees
Beyond the required capital investment, there are other significant costs involved:
- USCIS filing fees: for Forms I-526/I-526E ($11,160 USD) and I-829 ($9,525 USD)
- Regional Center administrative fees: These can range from $50,000 to $70,000 and cover the center’s costs for managing the project.
- Legal and professional fees: for immigration attorneys ($15,000-$25,000+ USD), securities attorneys (if needed), and financial advisors
Costs will vary depending on the complexity of the case and whether the investor is filing from inside or outside the US.
Common challenges and solutions for EB-5 investors
The EB-5 journey can encounter potential pitfalls that require careful navigation.
Proving a lawful source of funds
This is one of the most document-intensive parts of the petition. USCIS requires a clear and unbroken chain of evidence. Begin gathering documentation years in advance if possible. Keep thorough records of all major financial transactions, including property sales, business profits, gifts, and inheritances (with donor documentation).
Every dollar must be accounted for with official documents. Unexplained cash deposits or missing records are common reasons for Requests for Evidence (RFEs) or denials.
Choosing a reputable project and Regional Center
Not all projects are successful, and some Regional Centers have been terminated for non-compliance. A bad investment can mean losing both your money and your chance at a green card.
Conduct extensive due diligence. This is not just an immigration process; it’s a major financial investment. Work with independent financial advisors and securities attorneys to vet the project’s business plan, financial projections, and the track record of the Regional Center and its principals.
The long wait times can create uncertainty and can stretch for years. Patience and preparation are key. Work with an experienced EB-5 immigration attorney to prepare the strongest possible petition from the outset to minimize the risk of an RFE or denial.
Consider project types that qualify for reserved visa categories (e.g., rural projects), which may reduce wait times.
Tips for a successful EB-5 application
Conduct extensive due diligence: Treat this as both a serious investment and an immigration strategy. Your financial future is at stake as much as your residency.
Assemble a professional team: You will need more than just an immigration lawyer. Your team should include a securities attorney to review the investment documents and potentially a financial advisor or wealth manager.
Keep detailed financial records: Start a file dedicated to your source of funds documentation long before you are ready to invest. The more organized you are, the easier it will be for your attorney to build a strong and credible case.
Turning investment into opportunity
The EB-5 Immigrant Investor Program opens a rare door, one that lets you invest in the US economy and open a path to lawful permanent residency for you and your family. But this isn’t a quick or simple process. The rules are strict, the financial commitment is significant, and the paperwork is extensive.
To succeed, you’ll need more than just the capital; you’ll need a solid plan, a clear understanding of the risks, and the right experts by your side. But if you’re ready and prepared, the EB-5 visa can be a powerful way to start a new chapter in the US, one built on opportunity, security, and long-term potential.
FAQs
What is the minimum investment amount for the EB-5 visa?
At the time of writing, the minimum investment is $800,000 for projects located in a Targeted Employment Area (TEA) or $1,050,000 for projects in non-TEA locations.
How long does the EB-5 visa process take?
The entire process, from filing the initial I-526/I-526E petition to having conditions removed with the I-829 petition, can take five to seven years or even longer, depending on USCIS processing times and any country-specific backlogs. Processing times vary greatly.
Can my family members be included in my EB-5 visa application?
Yes. Your legal spouse and any unmarried children under the age of 21 at the time of filing can be included in your application and receive green cards as your derivatives. Keep in mind that long processing times may create age-out risks for children nearing 21.
Do EB-5 investors need to manage the investment directly?
It depends on the investment model. For a direct investment, you must be involved in management or policy-making. If you invest through a USCIS-approved Regional Center, you can be a limited partner, which satisfies the requirement without needing day-to-day involvement.
What happens if my I-526/I-526E petition is denied?
If your petition is denied, you may be able to appeal the decision or file a motion to reopen or reconsider. You can also reapply with a new petition, correcting the deficiencies from the first application. Consulting with your immigration attorney is the best course of action to determine your options.