The EB-5 immigrant investor green card

What is the EB-5 visa and who is it for?

EB-5 is the U.S. immigrant investor category and one of several routes on our investors hub. It lets a foreign national, along with a spouse and unmarried children under 21, seek a green card by putting a set amount of capital at risk in a new U.S. business that creates at least 10 full-time jobs for qualifying U.S. workers. It does not require a job offer, an employer sponsor, a particular degree, or English fluency.

The program is not a purchase. The money must be genuinely exposed to loss, the investor must prove where every dollar came from, and approval is never assured. EB-5 tends to suit people who have substantial, well-documented wealth, who want permanent residence rather than a temporary visa, and who can tolerate a long wait and the chance of losing some or all of the investment.

The modern rules come from the EB-5 Reform and Integrity Act of 2022 (the "RIA"), signed on March 15, 2022. It raised the investment amounts, rebuilt the regional center program with new integrity requirements, created reserved ("set-aside") visas, and allowed investors who are in the United States to file for a green card at the same time as their investor petition in many cases.

How much do you need to invest for EB-5?

For petitions filed on or after March 15, 2022, the statute sets two minimums:

• $1,050,000 as the standard amount.
• $800,000 if the investment is in a targeted employment area (TEA) or an infrastructure project. A TEA is either a rural area or a high-unemployment area.

The capital can be cash, equipment, inventory, other tangible property, cash equivalents, or debt secured by the investor's own assets. A loan secured by the business's assets does not count. Loan proceeds can count if the investor is personally liable and the collateral belongs to the investor. Under the RIA, the investor must show that the capital is expected to stay invested for at least two years.

A July 2, 2026 proposed rule (91 FR 40676) would also define "high employment areas" and set a higher amount of $1,400,000 for investments there. That is a proposal only. Comments closed August 31, 2026, and it does not apply unless and until a final rule is issued.

Regional center vs. direct investment

In the regional center model, up to 90% of the required jobs may be indirect (estimated) jobs, but at least 10% must be direct jobs. Jobs estimated from construction lasting less than two years may make up no more than 75% of the requirement. Direct investors cannot use models: they must show 10 actual qualifying employees of the new enterprise (or of a troubled business that is preserved).

Reserved visas and targeted employment areas

EB-5 receives about 7.1% of the annual employment-based green card numbers, generally around 10,000 visas a year. The RIA reserves part of that allocation:

• 20% for investments in rural areas
• 10% for investments in high-unemployment areas
• 2% for infrastructure projects

The remaining numbers are "unreserved." Reserved visas not used in a fiscal year stay reserved for the same category for one more year, and only then are released to the unreserved pool. That is why, as of November 2026, the reserved categories show as "Current" for every country while unreserved EB-5 has waiting lists for China and India. A rural area is generally outside a metropolitan statistical area and outside cities of 20,000 or more people. A high-unemployment area must have unemployment of at least 150% of the national average, and under the RIA, DHS rather than the states makes the designation. How long a high-unemployment designation stays valid for a project is technical; the July 2026 proposed rule would generally keep it for two years from the project filing, so ask counsel how it applies to a specific offering.

The EB-5 process, step by step

Concurrent filing and interim benefits

Since 2022, an investor physically present in the United States and otherwise eligible to adjust status can file Form I-485 together with Form I-526 or I-526E if a visa number would be immediately available on approval under the Visa Bulletin chart USCIS designates that month. While the I-485 is pending, the investor and family can generally apply for a work permit (Form I-765) and travel document (Form I-131). The RIA also allows those benefits to continue in some circumstances even if the petition is later denied, but leaving the country or a status gap can create serious problems. Treat concurrent filing as a strategy question for a lawyer, not a default.

How much does EB-5 cost? Government fees (as of October 2026)

A DHS final rule published September 30, 2026 (91 FR 61940) sets new EB-5 fees for filings postmarked on or after November 30, 2026. Earlier filings use the prior amounts, which apply because a federal court stayed the 2024 EB-5 fee increases (Moody v. Noem, D. Colo., Nov. 12, 2025). USCIS then returned to the fees in effect until March 31, 2024.

Other costs include the Form I-485 fee ($1,440 under the 2024 fee schedule) and work permit and travel document fees for each family member, consular visa fees if processing abroad, medical exams, attorney fees, and the offering's own administrative or syndication fees, which are often tens of thousands of dollars. Always confirm the amount on the USCIS fee page (Form G-1055) on the day you file. Our fee calculator can help you estimate totals.

How long does EB-5 take? Processing and the Visa Bulletin

EB-5 timing has two separate clocks: how long USCIS takes to decide the petition, and how long you wait for a visa number.

USCIS processing. USCIS posts processing times for Forms I-526, I-526E and I-829 on its processing times page. They have historically been measured in years rather than months and vary by case. Check the official page rather than relying on promoter estimates. The RIA directs USCIS to give priority processing to petitions for rural investments.

Visa availability (November 2026 Visa Bulletin).

Chargeability is generally based on country of birth, not citizenship. For October 2026 USCIS said employment-based adjustment applicants should use the Dates for Filing chart. USCIS announces its chart choice each month, so check before filing. Our Visa Bulletin guide and tracker explain how to read the dates.

The 2027 regional center sunset and grandfathering

The regional center program is authorized through September 30, 2027. Congress has let it lapse before, most recently from mid-2021 until March 2022, which froze many pending cases. The RIA added a protection: regional center petitions filed on or before September 30, 2026 are to continue to be processed even if the program later lapses. That date has passed, so petitions filed after it may not have the same protection if Congress does not reauthorize the program by its deadline. The standalone (direct) EB-5 category does not depend on this authorization.

Risks and red flags

• Guarantees. Promises of a guaranteed green card, guaranteed refund, or fixed "redemption" are warning signs and can also make the investment ineligible because the capital is not at risk.
• Undisclosed fees and conflicts. Ask who is paid, how much, and by whom, including migration agents.
• Thin projects. A new entity with no assets lending to a developer with little of its own money in the deal.
• Sustainment and redeployment. Long visa waits may require capital to be reinvested; understand how and where.
• Program and policy changes. The 2027 sunset, the January 2027 amount adjustment, new fees, and pending rulemaking can all affect timing and cost.
• Country-specific limits. Proclamation 10998 (December 2025) fully or partly suspends entry, including on immigrant visas, for nationals of a list of countries, subject to limited exceptions and waivers. That can block consular processing. Check the current list on travel.state.gov before you invest.

Alternatives to consider

If you are a citizen of a treaty country and want to run a business, the E-2 treaty investor visa may be faster and cheaper, though it is temporary. Companies moving managers can look at the L-1 and later EB-1C. People with extraordinary ability or a strong national-interest case may prefer EB-1 or EB-2 NIW, which require no investment. Our comparison guide walks through the trade-offs.

What to ask an attorney

• Which investment amount applies to my filing date, and what happens if my petition is filed after January 1, 2027?
• Am I eligible for concurrent filing, and what are the risks to my current status or travel?
• Which reserved category, if any, would my project qualify for, and how is the TEA documented?
• How would a regional center program lapse after September 30, 2027 affect my case?
• Do you receive any payment from a project or regional center? (Your lawyer should represent you, not the offering.)

We do not recommend projects or regional centers. If you would like to be connected with an independent immigration attorney, send us a lawyer request.