EB-5 immigrant investor program modernization

EB-5 program update: what changed and how investors should prepare

The EB-5 Immigrant Investor Program now features stronger integrity rules, clearer TEA definitions, reserved visa set-asides, and updated requirements for source of funds, job creation, and project oversight. However, success still turns on choosing a compliant project and documenting a clean funds trail. We design your filing around the newest standards.

Highlights at a glance

• Reserved visas (“set-asides”) for rural, high-unemployment, and certain infrastructure projects—useful for backlogged countries.

• Integrity measures: third-party fund administration or audits, annual statements, stricter promoter disclosures, and more site visits.

• Concurrent filing option in many cases for investors already in the U.S. (AOS + work/travel benefits while the I-140/I-526E is pending, when eligible).

• Clearer TEA validation and ongoing compliance obligations for Regional Centers and issuers.
  Therefore, investors must verify project controls before wiring any funds.

What this means for you (investor checklist)

Project diligence

• Confirm TEA status (rural or high-unemployment) and whether the project qualifies for a visa set-aside.

• Review the capital stack, lien position, escrow triggers, use-of-proceeds, and exit plan.

• Require independent fund administration or annual GAAP audit access.

Source of funds (SOF)

• Provide a traceable path from origin to the NCE/JCE (earnings, business sales, gifts, secured loans, inheritances).

• Include tax returns, bank trails, closing statements, and collateral proof for any loans.
  As a result, your petition avoids avoidable RFEs.

Job creation proof

• Regional Center: count direct + indirect/induced jobs per the approved economic model.

• Direct EB-5: show W-2 payroll jobs at the enterprise.

• Keep a timetable for meeting the 10 full-time jobs requirement within the allowed window.

Sustainment & redeployment

• Funds must remain at risk for the sustainment period; if a loan is repaid early, projects should have a redeployment policy consistent with the rules.

• Document distributions and capital events for the later I-829 filing.

Filing paths (high level)

1. I-526E/I-526 with evidence of lawful funds, TEA, business plan, and job methodology.

2. If eligible and a visa is available, adjust status concurrently in the U.S. (I-485 + EAD/AP) or proceed with consular processing abroad.

3. After conditional residence, file I-829 with job-creation and sustainment proof.

Promoter & marketing rules (why they matter)

• Projects must disclose promoter compensation, and promoters may need to register/comply with new standards.

• Transparent fee schedules and written risk factors reduce future disputes and program risk.

Common pitfalls (and how to avoid them)

• TEA assumptions without documents → verify with current evidence.

• Incomplete SOF (missing tax or loan collateral records) → assemble full trails now.

• No audit/fund admin → insist on independent controls.

• Mismatch between the business plan, use-of-proceeds, and offering docs → reconcile before filing.

• Material changes post-filing → plan contingencies so the project can stay compliant.

Evidence checklist (bring to your consult)

• Passports and prior immigration history (I-94, approvals)

• SOF: tax returns, bank statements, sale/loan papers, gift letters, inheritance docs

• Project packet: PPM, subscription, operating/limited partnership agreement, business plan, economic report

• TEA proof and any set-aside category documentation

• Draft timeline for filing, funding, and job-creation milestones

FAQs

What are “set-aside” visas and why do they help?
They reserve a portion of EB-5 visas for rural, high-unemployment, and infrastructure projects—potentially reducing wait times for some investors.

Do I have to invest through a Regional Center?
No. Direct EB-5 remains available, but Regional Center projects can count indirect jobs via modeling.

Can I work while my green card case is pending?
If you concurrently file adjustment (when eligible), you can usually obtain EAD/AP while the case is pending.

Are investment minimums fixed?
No—minimums and some thresholds adjust over time. We confirm the current figures before you commit.

How we help

First, we validate TEA and set-aside eligibility. Next, we build a meticulous source-of-funds trail and review project compliance (fund admin, audits, offering terms). Then, we file your I-526E/I-526 and, if eligible, concurrent AOS. Finally, we monitor job creation and prepare a strong I-829.

Want a clean, up-to-date EB-5 strategy? Schedule a consultation or call (562) 495-0554.

Disclaimer: General information, not legal advice. Program amounts and interpretations evolve; we confirm the requirements in effect when you file.

EB-5 Immigrant Visa

In 2009, the USCIS Ombudsman issued a comprehensive report with several crucial recommendations for the USCIS to significantly improve its policies and processes specifically for the EB-5 immigrant visa category, with the overarching goal of stabilizing and energizing the entire program to foster greater investor confidence. The Ombudsman strongly recommended that the USCIS should proactively establish a regulatory and administrative environment that promotes a reliable foundation for the program, which is essential for attracting and retaining foreign investment. Among the specific recommendations made by the Ombudsman were the finalization of regulations to effectively implement the 2002 EB-5 legislation and the creation of standardized operating procedures for both Form I-526 (Immigrant Petition by Alien Entrepreneur) and Form I-829 (Petition by Entrepreneur to Remove Conditions) to ensure consistency and predictability throughout the application process.