EB-5 Visa: How to Get a Green Card Through Investment in the U.S.

The EB-5 visa is the most direct bridge between capital and a green card in the U.S. immigration system. Created by the Immigration Act of 1990, it serves two congressional goals: stimulating investment in new commercial enterprises and creating jobs for American workers. For the foreign investor, it is an immigration route that requires no employer sponsor, no prior job offer, and allows a spouse and unmarried children under 21 to be included in the same process.

The category underwent a structural overhaul with the EB-5 Reform and Integrity Act of 2022 (RIA), signed in March of that year. The new law reauthorized the Regional Center Program through September 2027, redesigned the set-asides, adjusted investment thresholds, and introduced additional compliance, oversight, and investor-protection layers. Understanding these changes is essential before making any decision.

What the EB-5 Program Is

EB-5 stands for Employment-Based Fifth Preference — the fifth category of employment-based green cards. The investor contributes capital to a new commercial enterprise, demonstrates that those funds have a lawful source, and proves that the investment will create at least ten direct, indirect, or induced jobs for U.S. citizens or lawful permanent residents within the required period. In return, the investor and family receive conditional permanent residence for two years, after which they may apply to remove the conditions.

Updated Investment Thresholds

The RIA established new minimum amounts, which adjust for inflation every five years starting in 2027:

• $800,000 — investment in a Targeted Employment Area (TEA), defined as a rural area, a high-unemployment area (one with an unemployment rate of at least 150% of the national average), or an infrastructure project.
• $1,050,000 — investment outside a TEA, anywhere else in the United States.

TEA designation is now made exclusively by USCIS, based on Census Bureau and Bureau of Labor Statistics data. Before the RIA, some states issued their own designations — a practice that has since been discontinued.

Set-Asides and Processing Priority

The RIA reserved specific annual quotas within the overall EB-5 visa cap:

• 20% for investors in rural areas.
• 10% for investors in high-unemployment areas.
• 2% for investors in public infrastructure projects.

The remaining 68% are allocated to all other investors, with no reserved category. The set-asides — particularly the rural one — have drawn attention for advancing more quickly on the Visa Bulletin for nationals of countries with historical retrogression, such as mainland China and India.

Core Requirements

Three pillars define EB-5 eligibility:

At-Risk Capital Investment

Capital must be committed at risk — meaning it is subject to partial or total loss. A guaranteed-return contribution does not qualify: the investment must be exposed to the natural fluctuations of the enterprise. The RIA also introduced a requirement that the investment be maintained for a minimum of two years from the moment the capital is actually deployed to create jobs.

Creation of Ten Qualifying Jobs

Each investor must demonstrate the creation of at least ten full-time positions (or equivalents), filled by U.S. citizens, lawful permanent residents, or other authorized workers. In direct investments, only jobs directly created by the new enterprise count. In Regional Center investments, indirect and induced jobs calculated through USCIS-validated economic models may be included.

Lawful Source of Funds

Every dollar of capital must be traced back to its legal source. The source of funds file is often the most labor-intensive component of the petition: income tax returns, real estate sale contracts, corporate records, inheritance documentation, dividends, and loans secured by personal assets are typical elements of the evidentiary package.

Advantages of the EB-5 Route

The EB-5 offers a particularly attractive set of benefits for entrepreneurs, high-net-worth investors, and professionals seeking geographic and professional flexibility:

• Permanent green card after removal of conditions, with no ties to a specific employer.
• Automatic inclusion of a spouse and unmarried children under 21.
• Freedom to live, work, study, or do business in any U.S. state.
• Path to U.S. citizenship after five years of permanent residence, subject to N-400 requirements.
• Access, as residents, to in-state tuition at public universities after applicable domicile periods.
• Potential financial return on the invested capital after requirements are fulfilled.

Direct Investment vs. Regional Center

The EB-5 has two main modalities. In a direct investment, the applicant manages or actively participates in a company that creates the required ten direct jobs — the path for those who intend to actually run a business. In a Regional Center investment, the investor places capital into a pool managed by a USCIS-certified entity, typically in large-scale projects (real estate developments, hospitality, infrastructure). This model is the most common among passive investors.

The RIA tightened requirements on Regional Centers, established the EB-5 Integrity Fund (funded by annual contributions from the centers), expanded audits, and made disclosure of conflicts of interest and promoter fees mandatory.

Step-by-Step Process

1. Strategic Analysis and Due Diligence

Before committing any capital, the investor evaluates immigration goals, timelines, risk profile, and tax structure. For Regional Center investments, due diligence covers the manager’s track record, the business plan, the job-count methodology, the capital flow chain, and compatibility with USCIS criteria.

3. Legal and Tax Structuring

This step defines the corporate structure, the mechanisms for international capital transfer — in compliance with applicable foreign exchange regulations — and the pre-U.S. tax residency strategy, accounting for the substantial presence test and the wealth impact of the step-up in basis.

3. Capital Contribution

Capital is transferred to an escrow account or directly to the receiving entity, depending on the structure. Bank documentation must demonstrate the complete trail of the funds.

4. I-526 or I-526E Petition

The I-526E, created by the RIA, is the form used by Regional Center investors; the traditional I-526 remains in effect for direct investors. The petition establishes the investor’s eligibility, the lawful origin of the capital, the viability of the enterprise, and the potential to generate the required jobs.

5. Approval and Adjustment of Status or Consular Processing

Once the I-526/I-526E is approved and a visa becomes available per the Visa Bulletin, the investor chooses between:

• Adjustment of status via Form I-485, if already lawfully present in the U.S. with valid status.
• Consular processing via DS-260 and an interview at a U.S. consulate, if abroad.

6. Two-Year Conditional Residence

Once the adjustment is approved or the immigrant visa is issued, the investor and family receive a conditional green card. During this period, capital must remain invested and the required jobs must actually be created.

7. Removal of Conditions

Between 90 days before and 21 months after the second anniversary of conditional residence, the investor files Form I-829. Once approved, permanent green cards are issued to the entire family unit.

Risks Worth Noting

The EB-5 is not risk-free. Capital is exposed to the performance of the enterprise, and there is a history of Regional Centers that failed to deliver jobs or financial returns. Prior due diligence, critical review of the Private Placement Memorandum (PPM), and verification of the manager’s reputation are just as important as the immigration analysis. For nationals of countries with retrogression (China and, in recent cycles, India), total timelines can stretch for years, requiring close attention to the Visa Bulletin and set-aside windows.

The EB-5 as a Family Project

When properly structured, the EB-5 allows an entire family unit to achieve permanent residence through a single immigration process. Children can enroll in U.S. universities as residents, with reduced tuition. The spouse obtains broad authorization to work or start a business. International wealth is planned in an integrated manner with future U.S. tax obligations. Approaching the EB-5 as a wealth and family planning project — rather than simply buying a visa — is what separates success stories from disappointments.

Victoria Harper

Editor-in-Chief

Meet the author

Leading journalism and editorial content at Visto n’ Visa, Victoria helps make immigration topics clear, trustworthy, and easy to understand. Her focus is on delivering useful, human, and relevant content for people exploring new paths abroad.