Does a ‘broker dealer’ regulate the sale of EB-5 investment interests?

No. A ‘broker dealer’ does not regulate the sale of interests in the EB-5 program. EB-5 is an immigration-by-investment program, and the review of the residency petition falls to U.S. immigration authorities, primarily USCIS, not to securities firms.

A ‘broker dealer’ is an institution that intermediates the buying and selling of securities in financial markets, subject to market regulators such as the SEC and FINRA. Its role relates to how an investment is offered and traded, not to the immigration requirements that determine whether a green card will be granted.

The confusion arises because some EB-5 projects, especially those structured through regional centers, raise capital through securities offerings. In those cases, the offering may be subject to financial market rules, but that is a separate layer: it coexists with the immigration process without replacing it.

• EB-5 eligibility and approval follow immigration criteria evaluated by USCIS.
• The manner in which the investment is offered may involve securities regulations and their regulators.
• These are distinct spheres: satisfying one does not exempt you from the other.

Because EB-5 involves both immigration law and financial markets at the same time, it is worth verifying the current rules with USCIS and relying on trusted professionals in both areas before investing.

About the author

Victoria Harper

Editor-in-Chief

Meet the author

As a journalist and lead editor at Visto n’ Visa, Victoria helps ensure that immigration topics are covered in a clear, trustworthy, and easy-to-understand way. Her focus is on delivering useful, human, and relevant content for people exploring new paths abroad.