EB-5 Investor Visa: Requirements & Process

The EB-5 Immigrant Investor Visa is a path to a U.S. green card for foreign nationals who invest in a new U.S. business and create jobs for American workers. Unlike most employment-based green cards, EB-5 does not require employer sponsorship or a job offer; the applicant self-petitions based on their own capital and the jobs the investment generates, which is why founders, executives, and high-net-worth individuals often consider it when no other category fits. This guide explains the 2026 eligibility criteria, the filing steps, current fees and timelines, and how EB-5 compares to other investor and founder routes. It reflects the EB-5 Reform and Integrity Act of 2022 (RIA), which reshaped investment amounts, created reserved visa categories, and added integrity rules that govern cases filed today.

EB-5 Visa Requirements

The EB-5 category rests on three pillars: lawfully sourced capital, a qualifying business, and the jobs that business creates. Each is documentation-heavy, and weak proof in any single area is a common reason cases stall.

Minimum Investment Amounts

For petitions filed on or after March 15, 2022, the USCIS Policy Manual sets two investment levels:

• Standard minimum: $1,050,000 for a project in a standard (non-targeted) location.
• Reduced minimum: $800,000 for a new commercial enterprise principally doing business in a Targeted Employment Area or a qualifying infrastructure project.

Capital must be placed genuinely "at risk," meaning there is both a chance of gain and a real possibility of loss. A guaranteed return, a promised buy-back, or a right to demand the money back on a fixed date can recharacterize the investment as a loan rather than equity. Under RIA, the capital is generally expected to remain invested for at least two years. The two thresholds adjust for inflation on January 1, 2027 and every five years thereafter, tied to the Consumer Price Index (USCIS); the adjusted amounts will be published by the Department of Homeland Security and are not yet final.

Targeted Employment Areas and Set-Aside Visas

A Targeted Employment Area allows qualification at the lower $800,000 level. An area qualifies as a TEA if it is one of the following:

• A rural area, meaning any location outside a metropolitan statistical area and outside the boundary of any city or town with a population of 20,000 or more.
• A high-unemployment area, meaning a census tract (or group of connected tracts) where the business operates that has an average unemployment rate of at least 150% of the national average. Under RIA, the Department of Homeland Security designates these areas.

RIA also created reserved visa categories. Each year, a share of EB-5 visas is set aside: 20% for rural projects, 10% for high-unemployment projects, and 2% for infrastructure projects, with unused reserved visas rolling forward before releasing to the general pool. Because these pools were created recently and have not been exhausted, they have remained available even for applicants from heavily backlogged countries. RIA also requires priority processing for rural petitions.

Job Creation: The 10-Job Rule

The investment must create or preserve at least 10 full-time positions for qualifying U.S. workers. A full-time position means at least 35 working hours per week. Qualifying workers include U.S. citizens, lawful permanent residents, asylees, refugees, and others authorized to work; they do not include the investor, the investor's spouse or children, or anyone on a temporary visa. How job creation is proven depends on the investment path:

• Direct (standalone) investment: The business must directly employ the 10 qualifying workers on its own payroll.
• Regional center investment: Indirect and induced jobs, those created in the wider economy as a result of the project, may count for up to 90% of the requirement, estimated using accepted economic models.

Job creation is generally shown through a detailed, credible business plan projecting the 10 jobs. The required jobs must be created within a reasonable time, generally by the time Form I-829 is filed to remove conditions.

Source of Funds

USCIS requires proof, by a preponderance of the evidence, of lawful ownership of the invested capital. For petitions filed under RIA, this typically includes business and tax records, personal tax returns from the past seven years, evidence of any other source of the funds, and records of any court judgments. Gifts and loans are allowed if they are genuine, but the lawful source of the giver's or lender's funds must also be documented. Tracing the full path of the money, from its origin into the business account, is where most petitions are decided.

Strong source-of-funds evidence includes audited financial statements; filed tax returns matching declared income; clear bank records tracing each transfer from origin to the investment account; property sale deeds with corresponding deposits; documented business sale agreements; and gift or loan documents that also prove the giver's lawful source. Weak evidence includes cash holdings with no paper trail; income that exceeds what tax filings show; loans with no documentation of the lender's funds; vague references to "family money"; transfers through accounts that cannot be fully explained; and gaps between stated earnings and the amount invested.

The EB-5 Process Step by Step

The path from first investment to a permanent green card has four main stages. The full timeline depends heavily on country of birth and visa category, but the sequence of filings is the same for everyone.

Step 1: Investment Path Options

The first decision is whether to invest directly or through a regional center. With a direct investment, the investor actively runs or manages a business and must create the 10 jobs on that company's own payroll. With a regional center, a USCIS-designated entity pools investor capital into a larger project and indirect jobs may count, with no requirement to manage day-to-day operations. A regional center investor's petition depends on the center having filed or holding an approved Form I-956F for the specific project.

Step 2: The Immigrant Petition

This petition places the investor in line for a green card:

• Form I-526, Immigrant Petition by Standalone Investor, for a direct investment.
• Form I-526E, Immigrant Petition by Regional Center Investor, for a regional center investment.

Form requirements are described on the official USCIS EB-5 process page. The petition is where lawful source of funds, the at-risk investment, and the job-creation plan are established. The date USCIS receives it becomes the priority date, which determines place in line.

Step 3: The Conditional Green Card

Once a visa is available, there are two routes to conditional permanent residence:

• Adjustment of Status (Form I-485): For an applicant already inside the United States in valid status. A RIA benefit is concurrent filing: when a visa number is available, Form I-485 may be submitted together with Form I-526E or while it is pending, which also allows an application for a work permit and advance parole travel document. Whether a visa is available for filing depends on the chart USCIS designates each month in the Visa Bulletin; as of June 2026, EB-5 adjustment applicants use the Final Action Dates chart. A separate payment is required for each form.
• Consular Processing (Form DS-260): For an applicant outside the United States, completed with the Department of State after the petition is approved, followed by an interview at a U.S. embassy or consulate.

Either route leads to a two-year conditional green card for the investor and qualifying family members.

Step 4: Removing the Conditions

The first green card is conditional. To make it permanent, the investor files Form I-829, Petition by Investor to Remove Conditions on Permanent Resident Status, during the 90-day window immediately before the two-year card expires (Form I-829). At this stage, the investor establishes that the investment was sustained and that the required 10 jobs were created or preserved. After USCIS approves the I-829, the investor and family receive permanent (10-year) green cards, and naturalization is generally available after five years as a permanent resident.

Current USCIS filing fees for EB-5. Under a November 2025 federal court order (Moody v. Noem), the EB-5 petition fees reverted to the amounts in effect through March 31, 2024, and remain in effect as of June 2026 (USCIS alert; USCIS fee schedule). Form I-526 or I-526E is $3,675, the EB-5 Integrity Fund fee (initial I-526E only) is a separate $1,000, and Form I-829 is $3,750. Form I-485 (Adjustment of Status), which the court order did not change, is $1,440 by paper or $1,375 online (a $65 online-filing discount), and $950 for a child under 14 filing with a parent. A proposed Department of Homeland Security rule would revise these amounts once finalized; its draft proposes reductions for the core EB-5 petitions. USCIS filing fees are separate from any attorney or project fees.

EB-5 Processing Times and Visa Availability in 2026

EB-5 is not eligible for premium processing, so there is no expedited-decision option for the petition. Processing depends on USCIS workload and, for backlogged countries, on whether a visa number is available at all. As of 2026, USCIS assigns petitions on a first-in, first-out basis that prioritizes rural petitions and groups the rest by reserved category.

How to Check Processing Times and Case Status

The official USCIS Processing Times tool shows current estimates for Forms I-526, I-526E, I-485, and I-829. USCIS reports these times on a uniform national basis rather than by individual field office or service center. The posted figure reflects the time to complete 80% of adjudicated cases over the prior six months and is updated monthly; USCIS notes that it does not reliably predict when an individual case will be decided.

After filing, a receipt notice is issued with a 13-character receipt number. Case updates are available at egov.uscis.gov/casestatus, and a USCIS online account provides email and text alerts; updates post in batches.

Why Your Country of Birth Matters

The law authorizes roughly 10,000 EB-5 visas per year, and no single country may take more than 7% of the annual total. For high-demand countries, especially China and India, this creates long waits in the unreserved category. The RIA reserved categories change this calculation: because the rural, high-unemployment, and infrastructure pools were created recently and remain available, an applicant born in a backlogged country can often obtain a visa years sooner through a reserved-category project, and, if already in the U.S., file the green card application concurrently.

Monthly visa availability is published in the Department of State Visa Bulletin, and USCIS posts which filing chart applies on its adjustment of status filing charts page; as of June 2026, EB-5 adjustment applicants use the Final Action Dates chart. Set-aside availability can tighten as demand grows. In the mid-2026 Visa Bulletins all three set-aside categories remained current for every country, while the unreserved category showed multi-year backlogs for China and India; the Department of State reported that EB-5 India in the unreserved category was unavailable for the remainder of fiscal year 2026.

The September 30, 2026 Deadline

The RIA includes an essential grandfathering protection: a regional center petition (Form I-526E) filed on or before September 30, 2026, will continue to be processed through adjudication and subsequent condition removal (Form I-829), even if the Regional Center Program lapses in the future. This protection is distinct from the program's explicit statutory reauthorization, which runs through September 30, 2027. Direct standalone investments remain permanently authorized and are not exposed to expiration risk. Combined with the inflation adjustments scheduled for January 1, 2027, the September 2026 date stands as a critical strategic timing window for investors looking to lock in current compliance rules.

EB-5 for Your Spouse and Children

One EB-5 investment covers the investor's immediate family. The investor's spouse and unmarried children under 21 can obtain green cards as derivatives of the petition, with the same priority date. They can file their own I-485 applications alongside the investor's or process at a consulate abroad.

Children approaching 21 are the main concern, because a long backlog can cause a child to "age out." The Child Status Protection Act (CSPA) applies to EB-5 and can subtract the time the petition was pending from a child's biological age, often preserving eligibility. The child must also seek to acquire status within one year of a visa becoming available and remain unmarried. For requests filed on or after August 15, 2025, USCIS calculates visa availability for CSPA purposes using the Final Action Dates chart (USCIS guidance). A reserved category, which moves faster, can affect whether a child near 21 remains eligible on the case.

Common EB-5 Pitfalls

Most EB-5 problems trace back to a handful of recurring issues:

• Incomplete source of funds. This is a leading cause of requests for evidence and denials. It involves tracing every dollar from its origin and documenting the lawful source of any gift or loan, including the giver's funds.
• Capital that is not truly at risk. Projects offering guaranteed returns, fixed redemption dates, or buy-back rights to the investor can recharacterize equity as a loan and undermine the petition.
• Material change before conditional residence. If the facts behind a petition change significantly before conditional residence is granted, refiling may be required, with loss of the priority date.
• Regional center termination. USCIS can terminate a regional center for noncompliance, including failure to pay its annual Integrity Fund fee. RIA's good-faith investor protections can apply in some cases and generally involve a response window.
• Redeployment risk. After the jobs are created and capital is repaid, a regional center may redeploy the funds. Redeployment must stay within the same enterprise, remain at risk, and avoid passive holdings such as stocks.

EB-5 vs. Other Investor and Founder Visa Options

EB-5 is the most capital-intensive U.S. immigration route and, for backlogged nationalities in the unreserved category, often the slowest. Lower-cost employment-based options exist that do not require a seven-figure investment. The relevant fit depends on nationality, background, and goals.

• E-2 Treaty Investor Visa: A nonimmigrant option for nationals of treaty countries who invest a substantial (but typically smaller) amount in a U.S. business they actively direct. It is faster and lower-cost than EB-5, though it is not a direct green card.
• EB-1A Extraordinary Ability: A green card for individuals at the top of their field. It requires no investment, no employer, and no labor certification step.
• EB-2 National Interest Waiver: A self-petitioned green card for advanced-degree professionals and entrepreneurs whose work serves the U.S. national interest, with no investment requirement.

Many founders and investors who research EB-5 also qualify for a lower-cost path. Alma supports high-skilled talent and entrepreneurs across E-2, EB-1A, and EB-2 NIW and prepares cases on an attorney-led platform. Path comparisons are available in Alma's visa guides.

Why Work With Alma

Alma is a technology-enabled, attorney-led immigration platform built for high-skilled talent, founders, and the companies that employ them. EB-5 is not currently an Alma service line; Alma supports the investor and founder pathways noted above.

The Alma approach:

• Attorney-led. Each case is handled by an experienced immigration attorney, with direct access throughout the process.
• Transparent per-visa pricing. Alma publishes per-visa pricing, charged upfront, including responses to requests for evidence, administrative costs, and consultation calls. A 50/50 payment plan is available for businesses.
• Document workflow. The platform organizes documents, tracks deadlines, and pre-populates forms, supporting roughly two-week preparation timelines for covered case types.
• Track record. Alma reports an approval rate of 98% or higher for qualified cases in its covered case types, with real-time case tracking. This is a company-reported figure and not an EB-5 outcome statistic.

Alma offers consultations to discuss eligibility and options across E-2, EB-1A, and EB-2 NIW (get started).