The EB-5 visa progam has evolved significantly in recent years. According to newly released USCIS data covering April 2022 to January 2025, the approval rate for I-526E petitions filed through Regional Centers stands at 97%—a dramatic improvement from earlier years. Despite this progress, EB-5 participation from Mexican investors remains limited, with only 27 petitions filed between April 2022 and March 2024.
For those who do apply, current processing times average 12 months for I-526E approval, followed by an additional 6 months for consular processing or adjustment of status within the U.S.
However, this more streamlined and transparent process is in sharp contrast to the historical denial rates many Mexican investors experienced Pre-RIA ( Investors who filed an immigrant visa petition before March 15, 2022). Between 2016 and 2021, nearly 30% of EB-5 petitions filed by Mexican investors were denied—one of the highest denial rates among EB-5 participant countries.
Understanding the key reasons behind past denials, and how today’s applicants can avoid the same pitfalls, is essential for success in the current EB-5 environment.
Why EB-5 Visa Denials Are Higher for Mexican Investors
There are three key factors that have consistently contributed to higher denial rates for Mexican EB-5 investors:
- Incomplete or Unverifiable EB-5 Source of Funds Documentation
- Prior Immigration History Issues
- EB-5 Project Selection Without Proper Due Diligence
Incomplete or Unverifiable EB-5 Source of Funds Documentation
Properly documenting the lawful source of funds is a core requirement for EB-5 approval. USCIS demands clear, traceable financial records showing how the $800,000 investment was legally obtained. Many denials occur due to:
- Missing or incomplete financial records
- Funds coming from informal or undocumented sources
- Legal or financial advisors unfamiliar with EB-5 documentation standards
Prior Immigration History Issues
Many Mexican EB-5 applicants have previously visited or lived in the United States. Past visa overstays, unauthorized employment, or misunderstandings about visa conditions can all create red flags during USCIS review.
If not disclosed early and handled appropriately, prior immigration history can result in RFEs (Requests for Evidence), delays, or outright denials. Investors pursuing the EB-5 visa process from within the U.S. through Adjustment of Status should take special care to review their records.
EB-5 Project Selection Without Proper Due Diligence
The success of an EB-5 visa petition also depends heavily on the selected project’s ability to meet job creation and compliance requirements. While many investors rely on friend referrals or brand familiarity, failing to conduct proper EB-5 project due diligence significantly increases risk.
USCIS reviews not only the investor’s background but also the credibility of the project’s economic modeling, job creation forecast, and capital stack. Choosing a USCIS-qualified project backed by a reputable Regional Center is essential.
Houston EB5’s Track Record: A Case Study in EB-5 Visa Approval for Mexican Investors
Despite the national denial trends, some Regional Centers have consistently delivered positive outcomes. Between 2016 and 2021, Houston EB5 accounted for approximately 42% of all EB-5 visa approvals issued to Mexican nationals. Of the 238 total approvals granted during that time, over 100 were linked to Houston EB5’s projects.
How Mexican Investors Can Improve EB-5 Visa Approval Odds
To reduce risk and increase the likelihood of a successful EB-5 petition, Mexican investors should follow these key best practices:
1. Work with Attorneys Specialized in EB‑5 Source of Funds
Before filing the I-526E petition, consult with an attorney who understands both U.S. and Mexican financial systems. Proper planning can ensure all fund transfers, tax records, and asset histories are well-documented and in line with USCIS expectations.
2. Review and Address Immigration History Early — Especially When Filing I-526E Concurrently
Undisclosed or unresolved prior immigration violations—such as overstays or unauthorized employment—can trigger RFE or denial. USCIS emphasizes full transparency and will adjudicate based on prior noncompliance.
- Proactive step: Disclose all visa entries, status changes, and irregularities before filing.
- Filing concurrently (I‑526E with AOS) while in the U.S. amplifies scrutiny, so timing and clarity are essential to avoid processing delays or adverse findings.
3. Conduct In-Depth EB‑5 Project Due Diligence
Due diligence is crucial—not just for investment returns, but also for petition approval. USCIS examines the legitimacy of the project, job-creation projections, and the regional center’s track record.
Key review areas include:
a. USCIS Approval Status of the Project
Before investing, confirm whether the project has received USCIS Form I-956F approval, which demonstrates that USCIS has reviewed and accepted the project’s business plan, economic methodology, and job creation forecast.
- Projects that are already pre-approved by USCIS carry significantly less risk at the I-526E stage.
- Investing in a pending project (one still under review) may delay adjudication or increase the chance of a Request for Evidence (RFE), particularly if documentation is unclear or assumptions are unproven.
Ask to review:
- The project’s I-956F receipt notice
- Confirmation of whether similar projects by the Regional Center have been previously approved
b. Economic/Job Creation Methodology
Job creation is the cornerstone of EB-5 eligibility. To qualify for a green card, each EB-5 investment must result in the creation of at least 10 full-time U.S. jobs.
Ask to review:
- The third-party economic impact report
- Assumptions used in the job creation model (e.g., construction spend, timeline, operations)
c. Capital Stack Structure & Investor Protections
A well-structured capital stack is key to both investment security and immigration success. EB-5 investors should look for projects where their capital holds a lower-risk senior loan position, which can offer greater protection in the event of project delays or underperformance. Additionally, it is important to verify that EB-5 funds are held in escrow and released only after specific milestones are met—such as the receipt of the investor’s USCIS filing or the completion of other financing conditions. Finally, investors should assess whether the developer or Regional Center has committed equity to the project. A meaningful equity contribution signals financial confidence and demonstrates that the sponsor’s interests are aligned with those of the EB-5 investors.
Ask to review:
- The project’s capital stack summary
- Terms of the EB-5 loan or equity structure
- Escrow release conditions and repayment waterfall
d. Regional Center Track Record
The experience and integrity of the sponsoring Regional Center play a critical role in both project execution and the overall success of an EB-5 petition. Investors should review how many projects the Regional Center has previously sponsored and examine its track record of I-526 and I-829 approvals. It is also essential to investigate whether the Regional Center or any of its principals have been subject to USCIS termination, SEC enforcement actions, or past project failures. A strong history of compliance and successful outcomes—particularly with petitions from Mexican investors—can provide a level of assurance that goes well beyond standard marketing claims, helping investors make more informed and confident decisions.
Ask to review:
- Regional Center approval statistics
- Project-specific approval history (I-526/I-526E, I-829)
Why These Practices Matter:
Failure in any of the above areas—source of funds documentation, immigration history, project legitimacy, or compliance—can result in petition denial. By understanding the underlying causes of past denials, Mexican investors can take proactive steps to reduce risk and improve their chances of EB-5 visa approval.
