What Is the EB-5 Visa?
The EB-5 Immigrant Investor Program allows eligible foreign investors to seek U.S. permanent residence by making a qualifying investment in a new commercial enterprise and creating at least 10 full-time jobs for qualifying U.S. workers. The program was created by Congress in 1990 to encourage investment and job creation in the United States.
The minimum investment is generally $1,050,000. The minimum is $800,000 when the investment is made in a qualifying rural area, high-unemployment area, or infrastructure project. The investment capital must be placed at risk for the purpose of generating a return and must meet the program's other investment requirements.
The EB-5 program includes both unreserved investments and three reserved categories created under the EB-5 Reform and Integrity Act of 2022:
Rural areas: 20% of EB-5 visa numbers
High-unemployment areas: 10%
Infrastructure projects: 2%
The remaining 68% are generally unreserved numbers available to other qualifying EB-5 investors.
A qualifying new commercial enterprise can take different legal forms, including a sole proprietorship, partnership, holding company, joint venture, corporation, business trust, or limited liability company, provided it meets the EB-5 requirements. Certain older businesses may also qualify when they meet the applicable restructuring, reorganization, or expansion requirements.
Job Creation Requirement:
The investment must result in the creation of at least 10 full-time positions for qualifying employees. For a direct EB-5 investment, the required jobs generally must be created directly by the new commercial enterprise. In a qualifying Regional Center investment, the required jobs may be established through direct, indirect, or induced employment using the permitted economic methodology.
A qualifying full-time position generally requires at least 35 hours of work per week. Job-sharing arrangements may qualify when they meet the applicable requirements. Seasonal or intermittent positions generally do not satisfy the full-time employment requirement. A troubled business is treated differently. In an eligible troubled-business case, the investor may satisfy the job requirement by maintaining the existing number of employees at no less than the pre-investment level, rather than creating 10 new positions. The investor, the investor's spouse and children, and certain other nonqualifying individuals cannot be counted as qualifying employees for purposes of the 10-job requirement.
Source of Funds Requirement:
The investor must show that the investment capital was obtained through lawful sources and provide evidence tracing the funds from their original source to the EB-5 investment. Simply showing that the money was deposited into a bank account is generally not enough; USCIS may require documentation establishing both the lawful source and the path of the funds.
Investment funds may come from sources such as:
Salary or employment income
Business income or profits
Sale of property or other assets
Inheritance
Gifts
Loans
If a gift or loan is used, the investor must provide documentation identifying the donor or lender and establishing the lawful source of those funds. USCIS specifically requires documentation addressing gifted or loaned capital.
EB-5 for Indian Investors:
For Indian investors who are resident individuals in India, the Reserve Bank of India's Liberalised Remittance Scheme generally permits outward remittances of up to $250,000 per financial year for permitted current or capital account transactions. The LRS is subject to FEMA requirements and other applicable conditions. The LRS limit applies to each eligible resident individual, but family members cannot simply combine or transfer their individual limits for an overseas investment without considering the specific LRS rules governing the transaction.
Concurrent Filing for Applicants in the United States:
Certain EB-5 investors who are already in the United States may be able to file Form I-526 or I-526E and Form I-485 concurrently, provided an immigrant visa is immediately available and the other adjustment-of-status requirements are met. Eligible applicants may also be able to apply for employment authorization and advance parole while the I-485 application is pending.
However, concurrent filing is not automatically available to every EB-5 investor. Visa availability depends on the investor's EB-5 category, country of chargeability, priority date, and the applicable Visa Bulletin.
EB-5 Waiting Times:
EB-5 processing can take several years, but there is no single waiting period that applies to every investor. The overall timeline can depend on USCIS processing, visa availability, the investor's country of chargeability, the EB-5 category, and whether the case involves a reserved or unreserved visa number.
For example, the October 2026 Visa Bulletin lists India's EB-5 unreserved category with a December 1, 2023 Final Action Date, while the rural, high-unemployment, and infrastructure reserved categories are listed as current for India. Visa availability can change from one month to another. For this reason, a specific estimate such as "eight to twelve years" should not be presented as the expected EB-5 timeline for all Indian applicants.
Families should also consider age-out issues for children. The Child Status Protection Act may provide protection in qualifying cases, but whether a child remains eligible depends on the specific circumstances and timing of the case.
Conditional Permanent Residence and Form I-829:
If the EB-5 application is approved and the investor becomes a permanent resident through the program, the investor initially receives conditional permanent resident status for two years. The investor must generally file Form I-829, Petition by Investor to Remove Conditions on Permanent Resident Status, during the 90-day period immediately before the second anniversary of obtaining conditional permanent resident status.
The investor must provide evidence showing that the required capital was invested and that the required employment requirement was satisfied under the applicable EB-5 rules. If USCIS approves the I-829 petition, the conditions are removed and the investor becomes a permanent resident without the EB-5 conditions.
Key Takeaway
The EB-5 program provides a path to U.S. permanent residence through qualifying investment and job creation, but it involves substantial financial investment and detailed documentation.
The most important issues are the investment amount, qualifying project, lawful source and path of funds, job creation, visa availability, and continued compliance with the EB-5 requirements. The timeline can vary significantly depending on the investor's category, country of chargeability, and individual circumstances.