Guide to the EB-5 immigrant investor program, covering minimum investment thresholds ($800,000 for TEA or $1,050,000 standard), regional center vs direct investment, the I-526E petition, conditional permanent residence, and I-829 removal of conditions.
The standard minimum investment is $1,050,000. If the project is in a Targeted Employment Area (TEA) — a rural area or an area with unemployment at 150%+ of the national average — the minimum drops to $800,000. Most EB-5 investments are in TEA projects.
Choose between regional center and direct investment
Regional center investments are pooled with other investors into USCIS-approved projects (typically real estate development). They allow indirect job creation counting. Direct investments require you to create or manage a business that directly employs 10 full-time U.S. workers. About 90% of EB-5 investors use regional centers.
If regional center: research USCIS-designated regional centers and their track records
If direct investment: identify or create a qualifying commercial enterprise
Verify the investment capital is from a lawful source
USCIS requires a detailed paper trail showing the legal origin of funds: salary income, business profits, property sale proceeds, inheritance, gifts, or loans secured by personal assets. You must document the path of funds from original source to the EB-5 investment. This is the most scrutinized part of the petition.
Gather 5+ years of tax returns, bank statements, and financial records
Document any asset sales, inheritance, or gifts with supporting legal records
Regional Center Due Diligence
Verify the regional center is designated by USCIS
Under the EB-5 Reform and Integrity Act of 2022, regional centers must be re-authorized by USCIS. Check the USCIS regional center list for active designations. A center that hasn't been reauthorized cannot accept new investments. The list is updated on the USCIS website.
Review the project offering documents
Examine the Private Placement Memorandum (PPM), operating agreement, subscription agreement, and business plan. Look for the project's job creation methodology, timeline, projected returns, and investor exit strategy. Hire an independent EB-5 attorney — do not rely solely on the regional center's attorney.
Investigate the regional center's track record
Ask for the center's I-526 and I-829 approval rates, number of investors who have received green cards, any USCIS termination notices or SEC enforcement actions, and references from prior investors. A center with completed projects and successful I-829 approvals is significantly less risky.
Understand the job creation requirements for the project
Each EB-5 investor must create at least 10 full-time jobs for qualifying U.S. workers. Regional center projects can count indirect and induced jobs using economic models (RIMS II or IMPLAN). The project's economist report should show sufficient job creation per investor with a reasonable buffer.
I-526E Petition Filing
Prepare and file Form I-526E with USCIS
The filing fee is $3,675 per investor, plus $1,000 per dependent (under the Integrity Fund fee). Include evidence of the investment, source of funds documentation, and proof of job creation (for direct investments) or the regional center's job creation methodology.
Include thorough source of funds documentation
This typically runs 200-500+ pages. Include personal and business tax returns (5 years), bank statements tracing the funds, property records, business financial statements, employment records, and notarized affidavits explaining the history and source of your wealth.
Wait for USCIS adjudication
I-526E processing currently takes 12-30+ months depending on the service center and case complexity. The EB-5 Reform Act prioritized processing for TEA investments. You can track your case status online using your receipt number at egov.uscis.gov/casestatus.
Respond to any Request for Evidence (RFE)
Common RFE subjects: insufficient source of funds documentation, unclear path of funds, or questions about the business plan's job creation projections. You typically have 87 days to respond. Work with your immigration attorney and the project's economist if job creation is questioned.
Conditional Permanent Residence
After I-526E approval, apply for conditional green card
If in the U.S., file Form I-485 (Adjustment of Status) — filing fee $1,440. If abroad, go through consular processing at a U.S. embassy (DS-260 immigrant visa application). Include spouse and unmarried children under 21 as derivative beneficiaries.
If in the U.S.: file I-485 with medical exam (Form I-693) and supporting documents
If abroad: complete DS-260 and attend consular interview with civil documents
Receive conditional permanent resident status (2-year green card)
The conditional green card is valid for 2 years. You have full work and travel authorization during this period. The conditions must be removed by filing I-829 within the 90-day window before the 2-year anniversary of admission.
Maintain your investment during the conditional period
Your capital must remain invested and at risk throughout the conditional residence period. Withdrawing your investment before I-829 approval will result in denial. Monitor your regional center's progress reports and maintain records of your sustained investment.
I-829 Removal of Conditions
File Form I-829 within the 90-day window before your 2-year anniversary
The filing window opens 90 days before the conditional green card expiration date. The filing fee is $3,750. Late filing can result in termination of permanent residence. If you miss the window, you may request late filing for good cause, but this is risky.
Provide evidence that investment and job creation conditions are met
Submit proof that you sustained the investment throughout the conditional period, the 10 required jobs were created (or will be created within a reasonable time for regional center investments), and the commercial enterprise is still operating. Include tax returns, payroll records, and an economist report for regional center projects.
Attend the I-829 interview if scheduled
USCIS may schedule an in-person interview at your local field office, though many I-829 cases are adjudicated without an interview. If scheduled, bring all original documents filed with the I-829 and be prepared to discuss your investment and the project's status.
Receive unconditional permanent resident status
After I-829 approval, you receive a 10-year green card with no conditions. You're now a lawful permanent resident. You're eligible to apply for U.S. citizenship after 5 years of permanent residence (counting from the date you became a conditional resident). Your investment can typically be returned at this stage per the project's terms.
Frequently Asked Questions
How much do I need to invest for an EB-5 visa?
The minimum investment amount is $1,050,000 for a standard EB-5 investment or $800,000 for investments in a Targeted Employment Area (TEA), which includes rural areas or areas with unemployment rates at least 150% of the national average. The EB-5 Reform and Integrity Act of 2022 introduced these updated amounts, adjusted for inflation. The investment must create or preserve at least 10 full-time jobs for US workers. Regional Center projects (pooled investments) are the most common EB-5 structure and allow indirect job creation to count.
How long does the EB-5 green card process take?
The EB-5 timeline varies significantly. Form I-526E petition processing takes 12-24 months (though TEA investments may receive faster processing). After approval, visa availability depends on country of birth: applicants from China face multi-year backlogs (currently 3-5 years), while most other nationalities have current or near-current priority dates. The total process from investment to unconditional green card is typically 5-8 years, including the 2-year conditional residency period. Rural TEA projects received reserved visa set-asides in 2022, providing a faster path for many investors.
What are the risks of EB-5 investment?
EB-5 investments carry real financial risk, and USCIS requires that the capital be genuinely at risk. Failed projects can result in both loss of investment and denial of the green card. Due diligence is critical: review the Regional Center's track record, project financials, job creation methodology, and escrow arrangements. SEC fraud cases involving EB-5 projects have been documented. Hire an independent immigration attorney (not one affiliated with the Regional Center) and an independent financial advisor before committing funds. The investment must be from lawfully obtained funds with a clear source-of-funds trail.
Can EB-5 investors work in the US?
Yes, conditional permanent residents through EB-5 receive a green card that allows unrestricted employment in the US. You can work for any employer, start your own business, or choose not to work at all. Unlike E-2 investors who must manage their specific treaty investment business, EB-5 green card holders have no employment restrictions. However, you must intend to reside in the US permanently and maintain your investment for the 2-year conditional period. Spending extended time outside the US can jeopardize your permanent residency.