EB5 Visa: Complete 2025 Guide for Investors

The EB5 Visa program is an investor program that allows foreign entrepreneurs to secure permanent residency through capital investments and job creation.

Also known as the EB-5 Immigrant Investor Visa Program or US Golden Visa, it provides many benefits, such as travel opportunities, access to the best schools, financial growth, independence, and mobility.

The USA Golden Visa aims to attract wealthy foreign citizens to the United States. Foreign investors and their families can receive Green Cards, which could lead to citizenship.

This article will provide a detailed guideline on the EB-5 visa program, the application process, investment requirements, benefits, and more.

Keep reading to find out about:

• Benefits of the EB-5 Visa Program
• EB-5 visa requirements
• The EB5 application process
• EB-5 visa document checklist

What is an EB5 Visa?

The EB5 Visa is an immigration program designed for foreign investors who satisfy certain criteria. This visa opens a pathway to US permanent residency through foreign investments. The EB5 program provides foreign nationals with an investor Green Card, which eventually can lead to U.S. citizenship.
Foreign investors can obtain EB5 Visas by making a qualifying capital investment or creating ten full-time jobs for U.S. workers. You can achieve this by investing in projects, like a commercial enterprise, or through Regional Centers approved by United States Citizenship and Immigration Services (USCIS).

The US Congress created the EB5 (Employment-Based Category #5) Investor Visa (also known as the investor Green Card) in 1990. The goal was to attract foreign investment to promote economic growth and create new job opportunities.

Benefits of the EB-5 Visa Program

The EB-5 Visa program offers many benefits to foreign nationals and the United States. These advantages can include:

• Permanent residence: EB5 immigrant investors are eligible for permanent residence after maintaining their starting investment. The EB5 Visa application allows your spouse and unmarried children (21 years or younger) to become eligible Green Card holders.
• Potential profits: You can expect to profit from your EB-5 investments. However, the profits can depend on the type and terms of the investment.
• Access to world-class education: The U.S. offers students countless academic programs, excellent universities, and great career and research prospects.
• Mobility and flexibility: If you invest in the EB5 Regional Center Program, you don’t need to be involved in the daily operation of the business. The Regional Centers manage EB-5 projects and investor funds, allowing you to pursue your business interests. 
• Travel opportunities: As a Green Card holder, you can travel to and from the US, which makes international travel easier.
• Pathway to U.S. Citizenship: After five years, you may be eligible to get a U.S citizenship. If you do not wish to apply for citizenship, you can replace your investor Green Card every ten years without going through a review process.
• No employment restrictions: You can work or invest in any field. Your job does not have to be in the same state as your investment. The EB-5 allows investors to obtain an existing business, invest in regional projects, and open commercial enterprises.
• No sponsorship required: The EB-5 is one of the few self-sponsored immigration visas. You don’t need a sponsor, just adequate capital funds.

EB-5 Visa Requirements

The terms of the EB5 program require:

• A minimum investment for EB5 is around $800,000 to $1,000,000.
• Investing in a new business enterprise in the U.S.
• Creating at least ten job opportunities through investment.

Other requirements to qualify for the EB-5 program include:

• No criminal record
• Legally collected investment funds

The U.S. government aims to raise funds in Targeted Employment Areas (TEAs). Therefore, investors can benefit from investing in projects that target TEAs. These areas include rural locations and zones with high unemployment rates.

The set-aside visas within the EB-5 program are reserved for specific types of TEA projects. These investments target communities that need economic support. For example, about 2 percent of the set-aside visas are for infrastructure projects, 10 percent for areas with high unemployment, and 20% for investments in rural locations.

The table below provides an overview of the EB 5 investment amount and set-aside visas. The fair market value is calculated in US dollars.

EB-5 Business Plan Requirements

An EB-5 plan should provide an overview of the project you are investing in, its industry, its objectives, and the products and/or services it offers.
The EB5 investment plan should also encompass a strategic market analysis detailing your competitors’ relative strengths and weaknesses. The plan should compare a competitor’s offerings and pricing strategies and include insights into their target markets and potential clients.

The plan can include:

• A list of the necessary permits and licenses,
• A description of the manufacturing or production process, the required materials, and sources of supply, if applicable.
• Any agreements about procuring materials and/or distributing products.
• A detailed analysis of the project’s marketing strategy (e.g. pricing, advertising, and customer service)
• An organizational structure
• An outline of the qualifications of its personnel
• estimates for sales, costs, and income
• Specify the company’s staffing needs, including hiring timeline and job descriptions for each position. This demonstrates the project can meet the job creation requirements.

Citizenship and Immigration Services (USCIS) determines whether the plan is likely to be thorough and reliable. While not all specific aspects are mandatory in a plan, the more details provided, the greater the likelihood that USCIS will decide that the plan is comprehensive and legitimate.

If you are making a direct investment, it’s highly recommended to seek assistance from an immigration attorney to ensure that your plan meets USCIS standards. For Regional Center investments, the Regional Center can provide the necessary assistance.

Medical exam

Before you receive your Green Card, you (and your family members) must undergo a medical examination. The medical exam helps the US government determine you have any required vaccinations and that you do not have any medical conditions that could threaten public health.

During the medical examination, a doctor will review your medical history, and give you a physical examination, blood tests, and a chest X-ray. There is also a mental health screening.

EB-5 background checks and security screening

USCIS mandates that all prospective immigrants undergo background checks and a national security screening process to address national security concerns. Different agencies conduct these examinations, including the Department of State and US Customs and Borders Protection.

The US government ensures that you have a clean criminal record, don’t pose a threat to national security, and have no prior immigration violations.

EB-5 Visa update: changes in legislation

On 11 March 2022, the EB-5 Reform and Integrity Act was signed into law, introducing changes to the program. It permits using foreign capital investment throughout the U.S. and its territories. For petitions filed before this enactment, further investment must no longer remain within the same regional center or its geographic area.

EB5 Visa Investment Options

There are two main paths you can choose for the investment process: You can invest individually or through the Regional Center program.

Individual investment in a new commercial enterprise

This option is most suitable if your main focus is to establish a new commercial enterprise or continue a commercial business activity in the US. It helps you maintain full control over your investments as well as get a return on your invested capital.

If you choose this option, you must develop a commercial enterprise capable of creating ten full-time jobs for US citizens and permanent residents.

For each EB-5 investor, the project must create at least one direct job and up to nine “indirect” jobs. Direct jobs are the ones that establish an employer-employee relationship between the new commercial enterprise and the persons it employs.

Indirect refers to jobs that are created as a result of the project through external labor to service the project by providing goods and services. These jobs must be calculated according to economic models approved by the immigration service.

Regional Center investment

Green Card Investment for Regional Centers can be an excellent option if you plan not to be involved in the daily operation of the business, prefer mobility, and if the business venture you are interested in is not capable of creating ten direct full-time jobs.

Each Regional Center has its own projects, and they are subject to a higher level of regulation and accountability than direct investment projects.

The EB5 Application Process

These steps can help you start the EB5 application process.

1. Conduct thorough research: Gather information about the EB5 program, investment options, project developers, and Regional Centers.
2. Choose an investment project: Select a project that aligns with your investment goals and risk tolerance, and make the investment.
3. File an I-526 petition: Submit Form I-526 (Immigrant Petition by Alien Entrepreneur) to USCIS, provide evidence of your investment, and prove job creation plans. The National Visa Center will process and decide whether to approve or deny the petition.
4. Choose a path: Once Form I-526 is approved, you have two options. One, if you are already in the US with a valid non-immigrant status, apply for an adjustment of status (Form I-485, officially Application to Register Permanent Residence or Adjust Status). Two, if you are abroad, apply for an EB5 Visa at a consulate or embassy (Form DS-260, Application for Immigrant Visa and Alien Registration).
5. Visa interview: You will have to attend an EB5 Visa interview with a consular officer. This is a comprehensive assessment of your EB-5 Visa eligibility, which focuses on your project, how your investment creates jobs, and your overall adherence to program requirements.
6. Conditional Green Card: If your petition is approved, you will receive a two-year conditional Green Card.
7. Removal of Conditions: After two years, file an I-829 petition to demonstrate that you have met the program’s requirements.
8. Green Card: Upon approval, you will receive a permanent Green Card.

An experienced EB-5 Visa lawyer knows the relevant immigration laws and can give personalized legal advice based on your unique situation. The lawyer leverages the specialized skill sets to make the process smoother.

How to check your place in the immigrant visa queue?

The Visa Bulletin is a monthly publication that allows you to see where you are in the queue for an immigrant visa or a Green Card. The publication shows when different categories of visas are available, like work-based, family-sponsored, or diversity (lottery) visas.

To check your place in the Green Card queue, take a look at the priority date. A priority date is the date that the USCIS received your petition (also known as your filing date). It establishes your place in the waiting line for visa processing. The Visa Bulletin sets a cutoff date for each preference category and country.

Here is what your priority date means:

• If your priority date is earlier than the cutoff date, that means a visa is available, and you can continue with your Green Card application.
• If your priority date is after the cutoff date, you have to wait until it becomes current before you can apply for your Green Card.
• If you see a “C” in the Visa Bulletin, it means that the category is current, so you can file your Green Card application right away, no matter what your priority date is.

EB-5 Visa Document Checklist

When preparing your EB-5 application, it is crucial to compile all the required documentation. The specific documents may vary depending on your circumstances, but generally, you will need:

• Passport and identification documents
• Evidence of the legal source of funds for the investment
• Business and financial documents related to the investment project
• Tax returns and financial statements
• Evidence of plans for the creation of jobs and economic impact (typically, this would mean creating a detailed plan for your business)

Regional Center investors will receive documentation about the project, job creation methodology, and undertaking. You’ll need to submit documents that demonstrate the legality of the source of funds, such as:

• Income tax returns filed, anywhere in the world, relating to the last five years
• Overseas business registration documents
• Any documents identifying the sources of capital
• Certified copies of all civil and criminal actions or other legal actions in the last 15 years
• Any other documents to assist UCSIS in determining the relationship between the investor and the equity of the investment

How much does an EB-5 Visa cost?

Apart from the investment capital, the EB-5 visa program can cost from $21,130 to $22,225. The price varies based on your current location. However, this cost doesn’t include the administrative fees. Here is a list of several expenses and fees that make up the total cost of the EB-5 program.
These can include:

• Form I-526 (Immigrant Petition by Alien Investor): $3,675 (for the investor and any eligible dependents)
• Biometrics: $85 per person
• If applying from outside the US: You will need to pay an additional $345 visa application processing fee per person
• Medical exam: The cost of the medical examination varies depending on the country
• Form I-485 (if applying from within the US): $1,140
• Form DS-260 (if applying from outside the US): $325
• Biometrics: $85 per person (when filing either I-485 or DS-260)
• If you apply through a Regional Center, the center will charge an EB-5 Visa Administration Fee to manage the project. The price depends on the center and the project. The fee typically ranges from $50,000 to $70,000.
• After you complete the two years of the conditional Green Card:
• Removal of conditions application (Form I-829): $3,750 (for the investor and eligible dependents)
• Biometrics: $85 for each member of the family

EB-5 investors should also consider extra costs, such as translation of required documents, lawyers, and travel expenses. Our detailed EB5 Visa cost guide, breaks down all the hidden fees, main investments, and add-ons. These fees are mandatory regardless of the type of industry you plan to invest in.

EB-5 Visa Processing Time

At the moment, The Citizenship and Immigration Services (USCIS) reviews the Form I-526, known as the Immigrant Petition by Alien Investor, with an average processing time of 20.5 to 27 months. The timeline for EB-5 visa applications can vary based on various factors.

These factors include US Citizenship and Immigration Services (USCIS) processing times, or consular processing times if you’re applying from outside the US (consular processing times vary significantly across different countries), and the complexity of the investment project.

But, in general, after successfully completing the EB5 Visa interview, you should receive the EB5 Visa within a week. Once your adjustment of status is approved or you enter the US on a valid EB5 visa, you are officially a conditional permanent resident.

What are the reasons for EB5 visa denial?

Most EB5 investors successfully finish their visa program. Together with their family members, they often receive Green Cards. However, some EB-5 visa applications are denied. If your case was denied, the USCIS will send a denial notice and explain the reasons why.

The most common reasons for an EB5 denial are:

• Providing inaccurate or conflicting information.
• Failing to furnish crucial documents and evidence.
• Lacking the necessary investment funds or failing to invest the required amount.
• Using funds from illegal sources for investment.
• Having a history of criminal offenses or prior violations of US visa regulations.

Another thing visa applicants should consider is to file Form I-526 before their children turn 21. Otherwise, they will not be eligible for permanent residence or Green Cards under your EB5 application. If the children get married before they receive a permanent residence status, they will become ineligible for a Green Card. Although these factors don’t affect the EB5 visa application process, they do impact the family as a whole.

What to do if my EB-5 visa is denied?

If your EB5 Visa application is denied, you can:

• Make a motion to reopen: If your application was missing a crucial document or essential evidence, you can file a motion to reopen the case. To pursue this course of action, the additional document or evidence must hold sufficient significance to justify a revision of the decision.
• Make a motion to reconsider: If you think that the determination is incorrect, you can initiate a motion to reconsider. This can be complex, so your best course of action would be to seek counsel and assistance from an immigration attorney with an expert understanding of US immigration law.
• Appeal to USCSIS: If you believe the rejection was made in error, you can appeal to the USCIS Administrative Appeals Office. You must provide them with evidence to support your claim.

Path to Permanent Residence and United States Citizenship

With lawful permanent resident status, you will have the right to live and work anywhere in the United States, as well as enjoy some of the same legal protections and opportunities as US citizens.

When applying to become a lawful permanent resident, you can include your spouse and children in your Green Card application. Additionally, lawful permanent residents can sponsor certain family members for their own Green Cards.

While lawful permanent residence status grants you many privileges, it is very different from citizenship. Citizenship grants you the right to vote, hold certain public offices, and obtain a US passport. However, lawful permanent residents can apply for naturalization after meeting specific residency requirements.

Conditional Green Card and filing Form I-829

Once an investor has met the EB-5 program’s investment requirements, he’s eligible for Conditional Permanent Residency (green card). The green card is conditional for 2 years for them to complete the EB-5 requirements.

Once Form I-829 is approved, the conditions are removed, and they receive a permanent document. This changes their immigration status from conditional permanent residents to unconditional permanent residents.

Timeline to citizenship

Generally, it can take between 18 to 36 months to receive the conditional Green Card and an additional 24 months to obtain the permanent document.

EB5 Visa Risk Factors

Like any investment, the EB-5 program carries inherent risks. Carefully assess the potential risks associated with your project, such as market conditions, construction delays, and changes in government regulations.

While EB-5 investments should be at risk, the risk can be mitigated. Foreign investors can recoup their investment by filing their petition to remove the conditions on their two-year conditional Green Card. This depends on the terms of the agreement with the Regional Center, as long as the Regional Center project has been successful.

Moreover, investors must conduct thorough due diligence on projects to fully understand the terms of investment return and exit strategies.

EB-5 Tax Considerations

As an EB-5 investor, you should consult with a qualified tax professional to understand your tax obligations and tax planning. Generally, you will be subject to federal, state, and local taxes on your worldwide income. However, the US tax system offers various deductions and credits to manage these expenses.

Other US Visa Options

Compared to other US visas, the EB-5 Immigrant Investor program offers distinct advantages. Unlike non-immigrant visas, such as the USA L-1 Visa, O-1, B-1, H-1B or E-2 Visas, the EB5 program provides a direct path to permanent residency and eventually citizenship.

The EB5 program does not require a sponsor or employer. However, if you feel that the EB5 Visa, is not for you, you might want to consider the E2 Visa USA. The E2 visa allows citizens of treaty countries to live and work in the US if they make a “substantial investment” into a bona fide enterprise. Typically, this means investing around $100,000.

The other visas available to foreign nationals are talent visas, including the L-1 and O-1. These visas do not require you to make an investment. However, they do require you possess excellent skills in business, arts, sciences, education, athletics.

Why work with Global Citizen Solutions?

Global Citizen Solutions is a boutique investment migration consultancy firm focused on finding the right residency or citizenship by investment program for individuals wishing to secure their future and become global citizens. With offices in Portugal, the United Kingdom, Hong Kong, and Brazil, our multilingual team guides individuals and families from start to finish, providing expert advice considering freedom, mobility, taxation, and security.

• We have helped hundreds of clients from 35+ countries in all the top Residency by Investment and Citizenship by Investment programs. With an in-depth and comprehensive understanding of the area, we provide our clients with solid guidance. We have a team of immigration lawyers, and immigration advisers specialized in US immigration.
• Our team has never had a case rejected. Our 100 percent approval rate sets us apart from our competitors and guarantees that you can expect a successful application.
• Our transparent pricing covers all the processes from opening your bank account, document certification, and legal due diligence to investment and submission. As there is one fee for the entire process, you can be confident that you will not face any hidden costs later.
• All data is stored within a GDPR-compliant database on a secure SSL-encrypted server. You can be safe knowing that your personal data is treated with the utmost security.
• Global Citizen Solutions provides an all-encompassing solution. Our support can continue even after you receive your passport. We offer additional services such as company incorporation, Trusts, and Foundations formation.
• The BeGlobal Onboarding System® allows you to access the status of your application every step of the way, something that sets us apart from our competitors.

Frequently Asked Questions

What is an EB5 Visa (USA Golden Visa)?

The EB-5 immigrant visa, also known as the USA Golden Visa, is offered under an immigrant investor program that allows foreign nationals to obtain a US Green Card. Foreigners make a qualifying investment in commercial enterprises, which is creating jobs. The investment funds must contribute to the economic development of the country.

How long is the EB5 Visa application process?

The EB-5 immigrant visa application process can take several years, from the initial filing to becoming a permanent Green Card holder. The exact timeline and wait times can vary based on individual circumstances and external factors.

How many visas are set aside for EB5 Immigrant Investor Program applicants?

Congress has set aside an annual quota of 10,000 immigrant visas for the EB-5 Immigrant Investor program. From this total, 20 percent is designated for investors in rural areas, 10 percent for investors in high-unemployment areas, and 2 percent for infrastructure projects.

What is a Targeted Employment Area?

A Targeted Employment Area (TEA) is a designated geographic area with a high unemployment rate, or an area that is located in a rural region. As the US would like to stimulate economic activity through increased domestic capital investment in these areas, they consider EB5 Visa applications with a lower investment amount.

What are the personal wealth requirements for foreign investors who apply for EB-5 Visa?

There are no specific personal net worth requirements. Immigrant entrepreneurs are required to stick to a minimum EB-5 investment threshold (of at least $800,000 and more than $1 million if you invested outside of Targeted Employment Areas – either a rural area or an area with high unemployment) in a qualifying commercial enterprise.

Why are real estate projects popular under the EB5 Immigrant Investor program?

Projects involving real estate developers tend to be popular under the EB5 program because they initially create jobs in the construction industry, and they also create jobs in the service industry, including roles in hotels, restaurants, and resorts.

Should I work with an immigration attorney to apply for an investor Green Card?

An immigration lawyer will guide you through the process. They can provide evidence of a legal source of funds, ensure you have the complete and accurate supporting documents for your EB5 application, and choose the investment option that best suits your needs.

Can my children be enrolled in a school with conditional permanent resident status?

Yes, your children, with conditional permanent resident status, are able to attend school in the United States, including primary, secondary, and higher education institutions.

Is an investment of $500,000 enough for the EB5 immigrant visa?

An investment of $500,000 is not enough for the EB5 immigrant visa. The minimum required investment amount for the EB5 Visa is currently $800,000 if the investment is made in a TEA and $1,050,000 if it’s made outside a TEA.

What are the disadvantages of the EB5 Visa?

The EB5 Visa program requires a substantial capital investment, exposes investors to financial risks for the investment money, involves a complex application process that entails meeting stringent immigration law requirements, and can take a lengthy time to process.

Do EB5 investors get their capital investment back?

EB5 investors may receive their capital investment back, but it is not guaranteed. The main way to get your money back is to earn significant profits through your investments. The likelihood of a return depends on the success of the project.