EB-5 Immigrant Investor Visa

What are the general EB-5 requirements?

To qualify for the EB-5 Immigrant Investor Visa Program, an investor must make a qualifying investment in a U.S. commercial enterprise and demonstrate that the investment will stimulate the U.S. economy through job creation. Congress created the EB-5 Program in 1990 for the purpose of encouraging capital investment and creating employment opportunities for U.S. workers.

Minimum Investment
The standard minimum investment amount is $1,050,000 USD. In certain circumstances, this requirement is reduced to $800,000 USD, specifically for projects located in a Targeted Employment Area (TEA), which USCIS defines as either a rural area or an area experiencing high unemployment.

Job Creation
The investment must result in the creation of at least 10 permanent full-time jobs for qualified U.S. workers. These positions must be full-time (at least 35 hours per week) and last for a minimum of two years.

Capital at Risk
All EB-5 investments must remain “at risk” for the duration of the investor’s conditional residence period. This means there can be no guarantees of return of capital, and the investment must involve genuine commercial risk.

New Commercial Enterprise
EB-5 investors are required to invest in a new commercial enterprise, which USCIS defines as any for-profit entity formed for the ongoing conduct of lawful business. Acceptable structures include:

• Sole proprietorship Partnership (limited or general)
• Holding company and its wholly owned subsidiaries (if each subsidiary is engaged in for-profit activity)
• Joint venture Corporation
• Business trust
• Limited liability company
• Other entities, whether publicly or privately owned

Importantly, noncommercial activity—such as owning and operating a personal residence—does not qualify.

Establishment Date of the Enterprise
A qualifying new commercial enterprise must have been:

• Established after November 29, 1990; or
• Established on or before November 29, 1990, and either:
  • Purchased and restructured or reorganized in such a way 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.

Regional Center EB-5 Investment

Investors considering the EB-5 visa have two potential paths, with the most popular being investment through a USCIS-designated Regional Center. Established as a pilot program in 1992 and regularly reauthorized since then, the Regional Center Program is designed to stimulate economic growth within specific geographic areas. Contrary to what the name suggests, regional centers are not physical “centers” where an investor’s funds are placed. Instead, they are economic entities that sponsor EB-5 projects and allow investors to pool their capital into already defined investment opportunities.

This route is often compared to a passive investment, since EB-5 investors are not required to live near or manage the business where their funds are invested. Day-to-day operations, as well as the responsibility for meeting immigration requirements such as job creation, fall to the project itself. This structure provides investors with greater flexibility and reduced personal involvement while still fulfilling the EB-5 program’s requirements.

A key feature of the Regional Center Program is that job creation may be demonstrated through both direct and indirect jobs.

• Direct jobs are traditional positions where an employer-employee relationship exists between the new commercial enterprise and the individuals it hires.
• Indirect jobs are created outside the enterprise but arise as a result of the investment activity. Importantly, up to 90% of the EB-5 job creation requirement for Regional Center investors can be satisfied through indirect jobs, significantly broadening the types of qualifying projects.

The majority of Regional Center projects are located in Targeted Employment Areas (TEAs), which qualify investors for the reduced investment threshold of $800,000 USD (compared to $1,050,000 USD in other areas). A TEA may be either:

• A rural area, defined as any location outside a metropolitan statistical area (MSA) or the boundary of a town with a population of 20,000 or more, or
• A high-unemployment area, where unemployment is at least 150% of the national average.

Additionally, Regional Center investments may be made in infrastructure projects administered by governmental entities such as federal, state, or local agencies. These projects often involve maintaining, improving, or constructing public works and offer another avenue for EB-5 investors to participate in large-scale, job-creating enterprises.

Because most Regional Center projects qualify at the $800,000 TEA level and relieve investors of the burden of directly managing a business or proving job creation themselves, this option remains the most common choice for EB-5 applicants. It offers a cost-effective path to permanent residency while also meeting the program’s goal of promoting economic growth and job creation in the United States.

What’s the Process for an EB-5 Regional Center Project Investment?

Take the following example: Simon, a UK national, wishes to acquire a green card through an EB-5 investment. After consulting with an EB-5 lawyer and exploring multiple Regional Center projects, he finds an opportunity that aligns with his goals.

Simon carefully reviews the offering documents, subscribes to the EB-5 project, and transfers his investment to the project’s escrow account. At the same time, his immigration attorney plays a critical role in preparing the EB-5 visa petition (Form I-526E). This includes not only drafting the petition but also reviewing and documenting the lawful source of Simon’s investment funds — a key requirement of every EB-5 application.

Once the I-526E petition is filed with USCIS, the project provides Simon with regular updates on its progress and development. If the petition is approved, the case is then transferred to the National Visa Center (NVC). At this stage, Simon can add eligible family members to his application, complete the necessary paperwork, and prepare for the immigrant visa process. He and his family undergo required medical examinations and attend their immigrant visa interview at the U.S. Embassy in London.

Upon approval of the immigrant visa, Simon and his family may travel to the United States. Only when U.S. Customs and Border Protection (CBP) endorses their immigrant visas at the port of entry do they officially become lawful permanent residents. At that point, they may live anywhere in the country, pursue employment opportunities, or start their own business. Throughout the life of the project, Simon continues to receive updates about its development.

For investors who are already lawfully in the United States on a qualifying nonimmigrant status, the process may look slightly different: instead of consular processing abroad, they may be eligible to adjust status directly with USCIS while remaining in the U.S.

It is important to note that EB-5 green cards are initially issued as conditional permanent resident cards, valid for two years. To remove these conditions, the investor (and family members, if applicable) must file a petition with USCIS within the 90-day window before the card’s expiration. If USCIS approves the petition, the conditions are lifted and the investor receives a standard 10-year renewable green card. After five years of permanent residence, and if all other eligibility requirements are met, EB-5 investors may apply for U.S. citizenship — a step strongly recommended for long-term security and benefits.

Direct EB-5 Investment

Another pathway to obtain permanent residence through the EB-5 program is the direct investment model. Unlike the Regional Center option, which allows for pooled funds from multiple investors and indirect job creation, a direct EB-5 investment typically involves a single investor establishing or purchasing their own business in the United States.

In this structure, the investor is responsible for ensuring that all EB-5 program requirements are met. This includes, among other requirements:

• Investing the required minimum capital amount ($1,050,000 USD, or $800,000 USD if the business is located in a Targeted Employment Area).
• Demonstrating that the capital is placed “at risk” for the purpose of generating a return, meaning the funds must be deployed into the business and subject to potential market gain or loss, not simply held in a bank account.
• Creating and maintaining at least ten new full-time positions for qualified U.S. workers.

Direct investments can be an attractive option for individuals who wish to own and operate a business in the United States while also pursuing permanent residency. However, they carry additional responsibilities. The investor must be actively involved in managing the business or formulating policy, and the company must sustain a business model that can realistically employ ten full-time workers.

Therefore, the direct EB-5 investment route is not suitable for everyone. While many clients successfully operate companies outside of the U.S., they may find American business culture and practices unfamiliar.

The Barella Global Advantage

Barella Global distinguishes itself as a leading EB-5 immigration law firm, providing bespoke concierge services tailored to our investor clients. We prioritize the EB-5 visa category, staying informed and adapting to the most recent developments in the EB-5 industry.

To gain a deeper insight into the EB-5 green card, arrange a consultation with our experienced EB-5 visa lawyer. We welcome EB-5 investors at both our London and Brussels offices.