What USCIS requires.
EB-5 asks the investor to prove three things: that a qualifying amount of capital went into a new commercial enterprise and stayed at risk, that every dollar came from a lawful source, and that the investment created at least ten full-time jobs for US workers. The rules sit in INA §203(b)(5), as rewritten by the EB-5 Reform and Integrity Act of 2022 (RIA), and in 8 CFR §204.6. USCIS explains how it applies them in Volume 6, Part G of its policy manual.
Unlike the skill-based categories, EB-5 does not weigh the investor's achievements. It weighs paperwork: the paper trail behind the money, the structure of the investment, and the evidence that jobs exist. Most RFEs and denials come from gaps in that record, not from the amount invested.
One date has just passed. Regional center petitions filed before September 30, 2026 are protected by the RIA's grandfathering clause if the regional center program lapses when its authorization runs out on September 30, 2027. Petitions filed after that date carry no such protection. Our regional center analysis covers what that means for new investors. For fees and working with us, see the EB-5 service page.
Each requirement and the evidence that proves it.
| Requirement | Evidence that works | Why it fails |
|---|---|---|
| Investment amount | Wire records and subscription documents showing $1,050,000 invested, or $800,000 in a targeted employment area or infrastructure project | Capital committed but not yet transferred, or amounts that include fees or loans secured by the enterprise's own assets |
| Targeted employment area | Evidence that the project sits in a rural area or an area with unemployment at least 150% of the national average, using the data the RIA requires | An area drawn by stitching together census tracts beyond what the RIA allows, or data from the wrong period |
| New commercial enterprise | Formation documents for a for-profit business created after November 29, 1990, or proof that an older business grew by 40% in net worth or employees | A holding company with no operating business, or a passive vehicle such as undeveloped land held for appreciation |
| Capital at risk | Offering and operating documents showing the investor can lose money, and evidence the capital is actually deployed in the business | Guaranteed returns, guaranteed buybacks, or redemption rights at a fixed price |
| Lawful source of funds | A documented path from the origin of every dollar to the enterprise: tax returns, sale contracts, bank and wire records, exchange records | A gap anywhere in the chain, such as an undocumented cash deposit, a gift without the donor's own source evidence, or an unexplained transfer |
| Job creation, direct route | Payroll records, I-9s, and W-2s for ten full-time positions (35+ hours a week) held by qualifying US workers | Counting the investor or family members, contractors, or part-time roles |
| Job creation, regional center | An economic impact report using an accepted model, tied to verified project spending and revenue | Projections the project never met, or spending the report counts but the investor cannot document at I-829 |
Not sure which structure or area designation fits your investment? Get a free evaluation and we'll map it to your case.
Documenting the source of funds.
USCIS expects the investor to trace every dollar from its lawful origin through each account and currency to the enterprise. The documents differ by where the money came from.
| Source | What to document |
|---|---|
| Salary and bonuses | Tax returns, employment contracts, and pay records showing income accumulated over time, plus the accounts it was saved in |
| Business income | Proof of ownership, business tax returns, audited or reviewed financial statements, and records of each distribution to the investor |
| Sale of property | The original purchase and how it was paid for, the sale contract, closing statement, and the deposit of the proceeds |
| Gift or inheritance | The gift deed or estate documents, and the donor's or decedent's own lawful source of the money |
| Loan | The loan agreement, the collateral and its value, and evidence the loan is secured by the investor's own assets, not the enterprise's |
Currency controls and transfers
Investors from countries with exchange controls, China among them, need to show the money left the country lawfully under that country's rules. Keep every wire confirmation and exchange record. Transfers through third parties or currency swap arrangements need full documentation of each leg and are a frequent RFE subject.
Start before choosing a project
Assembling the paper trail often takes longer than choosing the investment. Older transactions are harder to document, and records reconstructed after an RFE persuade less than records gathered up front.
Direct investment vs. regional center.
| Direct investment | Regional center | |
|---|---|---|
| Petition form | Form I-526 | Form I-526E |
| Investor's role | Day-to-day management or policy role in the business | Usually a passive limited partner |
| Jobs that count | Direct employees only | Direct, indirect, and induced jobs, counted with an economic model |
| Main risk | Running a business that must reach ten full-time hires | Project failure or the regional center losing its designation |
| Due diligence | Entirely the investor's | The project, the developer's track record, and the center's USCIS compliance history |
Common pitfalls and RFE triggers.
Gaps in the source of funds chain
The most common cause of EB-5 RFEs. Any unexplained step between the origin of the money and the investment, such as an undocumented business sale, a large cash deposit, or a gift without the donor's records, will draw one.
Offerings that guarantee the principal
Buybacks, put options, or preferred returns that work like debt repayment can remove the capital from risk and disqualify the investment. Have immigration and securities counsel review the offering documents before investing.
Jobs that exist only in projections
At the I-829 stage the jobs have to be real. Regional center investors whose projects were delayed or shrank face denial when the economic report's projections never happened. Get documented evidence of the actual spending and hiring before filing the I-829.
Regional center termination
USCIS can terminate a regional center's designation for noncompliance with the RIA, which can disrupt pending petitions. Check the center's compliance and reporting history before investing; the RIA's investor protections do not remove project risk.
Planning around an unrealistic timeline
EB-5 is one of the slowest routes to a green card, and investors born in high-demand countries can face an extra wait for a visa number after approval. Model realistic scenarios against school, business, or visa deadlines before committing capital.
Assembling the petition.
What a complete EB-5 filing contains
- Form I-526 or I-526E and the filing fee
- Proof the capital was invested: subscription agreement, wire records, the enterprise's account statements
- The full source of funds file, with every transfer and currency conversion documented
- The business plan, and for regional center projects the offering documents and economic impact report
- Evidence of the targeted employment area designation, if claiming the $800,000 level
- Certified translations of anything not in English
After the petition is approved, the investor and family receive two-year conditional green cards once a visa number is available. The Form I-829 to remove conditions is filed in the 90 days before that two-year mark and must show the investment was sustained and the jobs were created. The State Department's Visa Bulletin lists EB-5 dates separately for the rural, high-unemployment, and infrastructure set-asides. Current processing times are on our USCIS processing times page.