United States

EB5 Investor Visa Program Overview

Congress created the EB-5 Program in 1990 to stimulate the U.S. economy by attracting foreign capital investment and job creation by foreign nationals. 

EB-5 is the only U.S. investor visa that leads directly to lawful permanent residence. EB-5 investors qualify by committing a minimum of $800,000 or $1,050,000 to a qualifying U.S. commercial enterprise that creates at least 10 full-time jobs for American workers.

USCIS administers the program and initially grants qualifying investors conditional permanent resident status for two years, after which investors apply to have conditions removed and receive a full, unconditional Green Card. 

The investor’s spouse and unmarried children under 21 may be included in the petition to receive conditional Green Cards alongside the primary applicant.

Eligibility Requirements

All investors must invest in a new commercial enterprise and meet the job creation requirement. 

A qualifying enterprise must have been established after November 29, 1990, or must have been purchased and restructured such that a new commercial enterprise results, or expanded through the investment resulting in at least a 40% increase in net worth or number of employees. 

Two investment pathways are currently available: 

Direct (Standalone) Investment

Direct investors must be actively engaged with the management of the commercial enterprise and may only count direct jobs held within the new commercial enterprise toward the job creation requirement.

• Minimum investment: $1,050,000 in a standard commercial enterprise
• Minimum investment: $800,000 in a Targeted Employment Area (TEA), which is a rural area or an area with unemployment at or above 150% of the national average, or in a qualifying infrastructure project
• The investment must create or preserve at least 10 permanent full-time jobs for qualified U.S. workers per investor
• Capital invested in exchange for a note, bond, convertible debt, or any debt arrangement, capital with a guaranteed rate of return, or capital subject to any contractual right to repayment does not qualify
• Capital means cash and all real, personal, or mixed tangible assets owned and controlled by the investor, valued at fair-market value in U.S. dollars

Regional Center Investment

Regional center investors pool their capital with other investors into USCIS-designated projects and are generally less involved in day-to-day management. 

Unlike the standalone pathway, the Regional Center Program must be periodically reauthorized by Congress and is currently authorized through September 30, 2027.

• Minimum investment: $1,050,000 standard; $800,000 in a TEA or infrastructure project
• Regional center investors may count indirect jobs held outside the new commercial enterprise but created as a result of the investment toward the job creation requirement
• Regional centers must operate within a defined, contiguous, and limited geographic area, and proposals must show that pooled investments will have a substantive economic impact on that area
• An additional $1,000 integrity fee is required with Form I-526E for all regional center investors, supporting the EB-5 Integrity Fund in the U.S. Treasury

Route to Citizenship

After five years of lawful residence in the U.S. with an EB-5 Green Card, investors become eligible to apply for U.S. citizenship by naturalization. 

The five-year countdown starts on the date the conditional Green Card is issued, so time spent as a conditional resident counts toward the eligibility period. 

USCIS permits naturalization applicants to file their applications up to 90 days before the five-year mark.

To qualify, investors must have maintained continuous lawful residence in the U.S. for five years and must have been physically present for at least 30 months of that period. 

Continuous residence means maintaining a primary home in the U.S. throughout the period; absences of more than six months can disrupt eligibility. 

Physical presence is calculated separately and refers to cumulative days spent in the U.S. 

The United States permits dual nationality. U.S. law does not require citizens to renounce prior nationality upon naturalization, though investors should verify their country of origin’s dual nationality policy before proceeding.

Mobility and Taxation 

Mobility

Holders of an EB-5 conditional or permanent Green Card have the right to live, work, and study anywhere in the United States. Unlike nonimmigrant visa categories, lawful permanent residence is not tied to a specific employer, role, or location. Green Card holders may travel internationally and re-enter the U.S. as returning residents, provided absences do not disrupt continuous residence for naturalization purposes.

Upon naturalization, U.S. citizens gain access to one of the more widely accepted passports globally. As of 2026, U.S. passport holders can travel to approximately 179 countries and territories without a prior visa or with a visa on arrival. 

Key destinations accessible without a visa include most develop the United Kingdom, Japan, South Korea, Australia, New Zealand, and all 27 European Union member states. 

U.S. citizens can stay in the Schengen Area for up to 90 days within any 180-day period. 

Tax

The United States applies a worldwide taxation model. U.S. citizens and lawful permanent residents are taxed on their global income regardless of where they reside, and this obligation begins from the moment an investor receives a conditional Green Card status. 

Investors who later relinquish their Green Card or renounce U.S. citizenship may also be subject to an exit tax if they meet certain net worth or tax liability thresholds under U.S. law. 

Investors should obtain independent tax advice before and during the EB-5 process to understand their obligations under both U.S. law and the tax laws of their country of origin.

How to Apply

The Immigrant Investor Program Office within U.S. Citizenship and Immigration Services (USCIS) administers the EB-5 program. The legal basis is the Immigration and Nationality Act, as amended by the EB-5 Reform and Integrity Act of 2022, enacted on March 15, 2022.

Applicants may submit their applications directly to USCIS with no regional variation in processing. Investors are strongly advised to engage an experienced EB-5 immigration attorney before committing capital, as the documentation requirements are extensive and errors can affect both the investment and the outcome.

The typical process runs as follows:  

• Prepare Form I-829 documentation throughout the investment period rather than at the two-year mark, as evidence of sustained investment and job creation must be comprehensive
• Select a qualifying project and conduct thorough due diligence on the commercial enterprise or regional center before transferring any funds
• Ensure the lawful source of funds is fully documented, as USCIS scrutinizes the origin of all invested capital
• File Form I-526 (standalone) or Form I-526E (regional center) through the USCIS online portal or by mail, with supporting investment and job creation documentation
• Monitor visa bulletin priority dates if applying from a high-demand country, as annual visa caps can affect wait times for certain nationalities