The EB-5 Visa Process Explained (2025 Guide)

The EB-5 Immigrant Investor Program provides a path to U.S. permanent residency for eligible foreign investors. While each applicant’s journey is unique, the process follows a clear structure governed by U.S. immigration law.

This guide outlines the steps in the EB-5 process as of 2025, including typical timelines and key requirements.

EB-5 Process for Investors Living in the U.S. (Concurrent Filing)

Step 1: Prepare Your Investment and File Concurrently

The process begins by gathering the required documentation, including a detailed lawful source of funds (SOF) report. Once the investment—currently $800,000 for TEA projects or $1,050,000 for non-TEA projects—is wired to the designated escrow account, the immigration attorney files Form I-526E (EB-5 petition) together with Form I-485 (adjustment of status).

This concurrent filing option, introduced under the 2022 Reform and Integrity Act (RIA), allows eligible U.S.-based applicants to access early work and travel benefits during the petition process.

Step 2: Receive Work and Travel Authorization

Following the concurrent filing, investors typically receive an Employment Authorization Document (EAD) and Advance Parole (AP) within several months. These documents allow the applicant to work legally and travel internationally while the I-526E petition is pending.

Step 3: I-526E Petition Approved

USCIS reviews and adjudicates the I-526E petition, verifying that the investment meets EB-5 requirements and that the project is in compliance. Upon approval, the investor continues their adjustment process if not already completed.

Step 4: Conditional Green Card Received

The investor receives a two-year conditional green card, granting lawful permanent resident status. This status provides full work, travel, and residency rights in the U.S. for the investor and qualifying family members.

Step 5: File I-829 to Remove Conditions

To transition from conditional to permanent residency, the investor must file Form I-829. This petition proves that the EB-5 investment was sustained and created at least 10 full-time jobs for U.S. workers.

Step 6: Receive Your Permanent Green Card

Upon approval of Form I-829, the investor becomes a lawful permanent resident without conditions. The green card is now permanent, and the investor may apply for U.S. citizenship five years after initially receiving conditional status.

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EB-5 Process for Investors Applying from Outside the U.S.

Step 1: Initial Consultation and Investment Preparation

The process begins with an investor consultation, legal due diligence, and documentation preparation, including a detailed source of funds report. Once the investment and administrative fee are transferred into escrow, the immigration attorney files Form I-526E with USCIS.

Step 2: I-526E Petition Approved

USCIS adjudicates the I-526E petition, ensuring the investment meets program requirements. Upon approval, the applicant proceeds with immigrant visa processing.

Step 3: Consular Processing and Immigrant Visa Interview

The investor submits Form DS-260 to the National Visa Center and undergoes an interview at the U.S. embassy or consulate in their home country. Upon approval, the investor is granted an immigrant visa to enter the U.S.

Step 4: Conditional Green Card Issued Upon U.S. Entry

Upon entering the U.S. with an EB-5 immigrant visa, the investor is issued a two-year conditional green card. The benefits are the same as those for domestic applicants.

Step 5: File I-829 to Remove Conditions

As with all EB-5 investors, the I-829 petition is filed to demonstrate that the investment was sustained and resulted in job creation.

Step 6: Receive Your Permanent Green Card

Upon I-829 approval, the investor becomes a permanent resident and may apply for citizenship after five years from the date of initial conditional residency.

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Additional Considerations for 2025

Concurrent Filing Eligibility:

Concurrent filing is only available to individuals who are physically present in the U.S. and maintaining lawful nonimmigrant status (e.g., F-1, H-1B, L-1). It is not available to those with expired visas, individuals out of status, or applicants residing outside the United States. Applicants must remain in valid status until their adjustment of status (Form I-485) is approved. This option allows eligible investors to obtain Employment Authorization Documents (EAD) and Advance Parole (AP) during the I-526E processing period.

Source / Path of Funds:

USCIS requires detailed documentation to verify the lawful origin of investment funds. This includes but is not limited to: bank statements, employment records, sale of property, business income, and tax returns. Acceptable sources can include personal savings, gifts from family members, lawful loans secured by personal assets, and inheritance. The burden of proof is on the investor to demonstrate a clear, traceable path of funds.

In recent years, USCIS has become significantly more strict in evaluating the source of funds documentation. Adjudicators are increasingly focused on ensuring that every dollar invested can be traced back to a lawful source, and inconsistencies, vague documentation, or incomplete transfers may result in lengthy Requests for Evidence (RFEs) or outright denials. Third-party transfers, complex layering of bank accounts, and transactions without clear paper trails are particularly scrutinized. Working with an experienced immigration attorney and a qualified regional center is essential to avoid delays and increase the chances of approval.

Funds originating from unlawful activities or lacking supporting documentation are grounds for denial.