EB-5 Visa

The EB-5 visa is an employment-based, fifth-preference immigrant visa for foreign investors who make a substantial financial investment in a U.S. business that creates or preserves jobs for American workers. This visa provides a pathway to U.S. permanent residency (green card) for the investor, their spouse, and unmarried children under 21.

Eligibility Requirements

Investment Amount

  • Standard Investment: At least $1,050,000 in a new commercial enterprise.
  • Targeted Employment Area (TEA) Investment: At least $800,000 in a business located in a TEA, which includes:
    • Rural areas.
    • Areas with high unemployment (150% of the national average).

2. Job Creation

  • The investment must create or preserve at least 10 full-time jobs for U.S. workers within two years of the investor’s admission to the U.S. as a conditional permanent resident.

3. New Commercial Enterprise

  • The investment must be in a for-profit business established after November 29, 1990.
  • If the business was established earlier, it must have been restructured or expanded significantly.

4. At-Risk Investment

  • The funds must be “at risk,” meaning they are actively invested in the business and not guaranteed for return.

5. Source of Funds

  • The investor must prove that the investment funds were obtained legally, through income, savings, loans, or gifts.

Application Process

Step 1: Choose an Investment Option

  • Direct Investment: Invest directly into a new commercial enterprise you own or control.
  • Regional Center Program: Invest through a designated Regional Center that pools investments for large-scale projects like real estate developments. (This option is popular due to fewer management responsibilities.)

Step 2: File Form I-526E (Immigrant Petition by Standalone Investor)

  • Submit Form I-526E to U.S. Citizenship and Immigration Services (USCIS) to establish eligibility for the EB-5 program.
  • Include:
    • Evidence of the investment.
    • Proof of the lawful source of funds.
    • Business plan showing job creation.
  • Pay the required filing fee ($3,675 as of 2024).

Step 3: Wait for USCIS Processing

  • USCIS will review the petition, which can take months to years depending on the complexity of the case and the investor’s country of origin.

Step 4: Adjustment of Status or Consular Processing

Once the I-526E petition is approved and a visa number is available (check the Visa Bulletin):

  • If inside the U.S.: File Form I-485 (Application to Register Permanent Residence or Adjust Status) to become a conditional permanent resident.
  • If outside the U.S.: Complete Form DS-260 (Immigrant Visa Application) and attend an interview at a U.S. embassy or consulate.

Step 5: Conditional Green Card

  • Approved applicants and their eligible family members receive a conditional green card valid for two years.

Step 6: File Form I-829 (Remove Conditions)

  • Within the final 90 days of the two-year conditional residency period, file Form I-829 (Petition by Investor to Remove Conditions).
  • Include evidence that:
    • The investment has been sustained.
    • The required jobs have been created or preserved.
  • Once USCIS approves the I-829 petition, the conditions are removed, and the investor receives a 10-year green card.

Family Members

  • Provides a pathway to permanent residency for individuals who may not qualify under other employment-based categories.
  • Many subcategories do not require labor certification (PERM).
  • Some groups, like Special Immigrant Juveniles, are not required to have a job offer.

Benefits of EB-5 Visa

  • Permanent residency for the investor and family.
  • Freedom to live, work, and study anywhere in the U.S.
  • No employer sponsorship required.
  • No requirement for extraordinary skills, education, or experience.

Challenges

  • High financial threshold.
  • Risk of losing investment funds if the business fails.
  • Long processing times for applicants from high-demand countries like China and India.