The EB-5 process consists of three primary steps, leading to lawful permanent residency:

Step 1: Filing Form I-526E (Immigrant Petition by Regional Center Investor) or Form I-526
(Immigrant Petition by Standalone Investor Petition). The investor submits Form I-526E (for
Regional Center investments) or Form I-526 (for direct investments) to USCIS, demonstrating that:
the required capital investment has been made; the funds were lawfully sourced; and the
investment is projected to create at least 10 qualifying jobs for U.S. workers. If investing through
a Regional Center, a I-956F (Application for Approval of an Investment in a Commercial Enterprise)
must be filed by the Regional Center before investors can file Form I-526E and is deemed
incorporated into the I-526E to establish project qualification.

Step 2: Obtaining Conditional Permanent Residency.

a. If residing outside the U.S., once the Form I-526E/I-526 petition is approved and a
visa is available the investor and eligible family applies for an immigrant visa at a
U.S. consulate or embassy. Upon visa issuance and the applicant’s entry into the
U.S., conditional permanent residency is granted.

b. If residing in the U.S. on a valid nonimmigrant visa and otherwise eligible, the
investor and eligible family may instead file Form I-485 (Application to Register
Permanent Residence or Adjust Status) once a visa number for the applicable
category and country of chargeability is available and may even file I-485
concurrently with the I-526E petition (before USCIS approves it).

Step 3: Filing Form I-829 to Remove Conditions on Residency. Within the 90-day window before
the second anniversary of obtaining conditional residency (the expiration date on the face of the
conditional green card), the investor and eligible family must: file Form I-829 (Petition by Investor
to Remove Conditions on Permanent Resident Status), providing evidence that the EB-5
investment has been sustained and the required jobs have been created. If the I-829 is approved,
the investor and qualifying dependents will receive unconditional permanent resident (green card)
status.

For USCIS process details: USCIS EB-5 Investor Process.

No. Filing Form I-526E or I-526 alone does not grant legal status in the United States. However,
investors already in the U.S. on a valid nonimmigrant visa (such as H-1B, L-1, F-1, or E-2) may be eligible to remain in the U.S. while awaiting petition adjudication. Additionally, investors eligible
to file Form I-485 (Adjustment of Status) concurrently with their I-526E petition may obtain
Employment Authorization (EAD) to work in the U.S. and Advance Parole (AP) to travel
internationally without abandoning their adjustment application. Eligibility for concurrent filing
depends on visa availability at the time of application.

No. Approval of Form I-526E or I-526 confirms that an investor has met the EB-5 investment
eligibility criteria but does not automatically confer U.S. residency. The investor must also show
general “admissibility” for permanent residence using either immigrant visa application or
adjustment of status application as described above. Upon successful completion of either
process, the investor and qualifying dependents will be granted CPR status.

An EB-5 investor who is already in the United States under a valid nonimmigrant visa may file
Form I-485 (Application to Register Permanent Residence or Adjust Status) either concurrently
with Form I-526E or at a later date, provided that several conditions are met. First, an immigrant
visa must be available in the investor’s EB-5 category according to the U.S. Department of State’s
Visa Bulletin. For more details: Visa Bulletin - U.S. Department of State.

Travel eligibility during the EB-5 process depends on the investor’s immigration status and stage
of the application. Investors who reside outside the United States may be able to travel freely for
purposes consistent with their nonimmigrant visa (or visa exemption) while awaiting approval of
their immigrant petition or visa. Those who have filed Form I-485 (Adjustment of Status) from
within the U.S. must obtain Advance Parole (Form I-131) before traveling internationally.
Departing the U.S. without Advance Parole while the I-485 is pending may result in the application
being deemed abandoned. H-1B and L-1 visa holders who apply for adjustment of status may
travel without Advance Parole but must continue to comply with the terms of their underlying
visa.

Form I-829 (Petition by Investor to Remove Conditions on Permanent Resident Status) is the final
step in the EB-5 process. It allows investors and their qualifying dependents to transition from
conditional to permanent residency by demonstrating that the investment was sustained and that
at least 10 full-time jobs were created for U.S. workers. The I-829 must be filed within the 90-day
window before the second anniversary of the investor’s admission to the U.S. as a conditional
permanent resident. Failure to timely file may result in automatic termination of status and
potential removal proceedings. USCIS may, in rare cases, accept a late filing for good cause, but
investors should consult legal counsel to ensure timely and accurate submission. For more details:
USCIS Policy Manual - I-829 Petition Requirements.

To support Form I-829, investors must provide documentation showing that their capital remained
at risk and engaged in commercial activity consistent with the USCIS-approved business plan
throughout the required period. Evidence may include bank statements, wire transfers, NCE and
JCE financials, and other evidence of project completion and operation. Job creation must also be
proven through expenditure records, revenue records, payroll records, W-2s, I-9s, and economic
reports, or credible modeling for indirect employment. USCIS may issue a RFE or NOID if the
documentation is insufficient. While USCIS has the discretion to require an interview, it is not
mandatory for all petitions. Interviews are more likely when there are questions about job creation,
deviations from the original business plan, the investor’s immigration history, or even source of
funds. Interviews are typically conducted at a local USCIS field office.

Once Form I-829 is properly filed, USCIS issues a receipt notice (Form I-797), which automatically
extends the investor’s conditional permanent resident status for 48 months beyond the Green
Card expiration. During this time, the investor may live, work, and travel freely while maintaining
residence in the U.S. For international travel, a valid passport and either an unexpired Green Card

or both the expired green card and the I-797 receipt notice are required. If both expire before I-
829 adjudication, an I-551 stamp can be obtained from USCIS for purposes of work authorization

and reentry from travel abroad. If the I-829 petition is approved, the investor and dependents
receive 10-year unconditional Green Cards and may pursue U.S. citizenship if eligible (typically
five years after original CPR admission). If denied—due to insufficient job creation, unsustained
investment, significant project changes, or other reasons—the investor faces loss of U.S. residence
status and may be placed in immigration removal proceedings but may seek recourse through a
motion to reconsider/reopen or, if placed in removal proceedings, before an immigration judge.
In such a situation, investors should immediately consult with immigration counsel to discuss their
legal options.

Under U.S. immigration law, children must be unmarried and under the age of 21 to qualify as
derivative beneficiaries of a parent’s EB-5 petition. If a child turns 21 before being admitted as a
conditional resident, they may “age out” and lose eligibility. The Child Status Protection Act (CSPA)
offers limited protection by allowing a child’s age to be “frozen” during the time that the parent’s
Form I-526 or I-526E is pending. If a child’s “adjusted age” is under 21 at the time that the I-526/E
petition is approved and a visa number is available and the child “seeks to acquire” permanent
residence within one year, the child can retain derivative eligibility. However, if visa availability is
delayed, the child could age out before becoming eligible. In such cases, families may need to
explore alternative immigration strategies, including making a separate investment and filing a
separate EB-5 petition for the child. For more details: USCIS CSPA Guidance.

The CSPA provides relief for children who might otherwise “age out”—that is, turn 21 before
obtaining lawful permanent residence—by allowing a calculation that deducts the amount of time
a Form I-526 or I-526E petition was pending from the child’s age at the time a visa becomes
available. If this adjusted “CSPA age” is under 21, the child may remain eligible as a derivative
beneficiary. However, CSPA protection does not indefinitely freeze the child’s age. If a visa is not
available at the time the I-526E is approved, the child’s biological age continues to advance from
the date the I-526 or I-526E petition was approved until the date the visa number becomes
available, which could lead to age-out if delays persist. In addition, for CSPA protection to apply,
the child must take action to apply for permanent residence within one year of visa availability—

commonly referred to as the “seek to acquire” requirement. This can be satisfied by filing Form I-
485 (if in the U.S.), DS-260 (if abroad) or I-824 (if the investor obtained adjustment of status and

the child was outside the U.S.).

If a child is determined to have aged out and no longer qualifies as a derivative on their parent’s
EB-5 petition, several immigration strategies may be pursued. The child may file a new EB-5
petition independently, though this requires a new capital investment and results in a new priority
date. Family-based sponsorship may be another route, such as the F2B category for unmarried
adult children of permanent residents, though this can involve significant waiting periods.
Alternatively, children may seek U.S. employment-based visas like the H-1B or pursue F-1 student
visas while planning a long-term immigration strategy. It is important to note that while the RIA
may allow principal investors to retain their original EB-5 priority date when refiling, this provision
does not apply to aged-out children—they must restart the process entirely. Families concerned
about these risks should work closely with immigration counsel early in the process to identify the
best course of action.

Processing times vary based on USCIS workload, visa availability, country of origin, and the
specifics of each case. As of the most recent estimates, the processing time for Form I-526E

(Immigrant Petition by Regional Center Investor) typically ranges from 18 to 36 months. Form I-
485 (Adjustment of Status) takes approximately 12 to 24 months, while Form DS-260 (used in

consular processing) is generally processed within 6 to 12 months. Form I-829 (Petition to Remove
Conditions on Permanent Resident Status) has the longest processing timeline, currently
exceeding 48 months in many cases. For more details: Processing Times. But processing times
can change significantly with changes in government policies and allocation of resources.

A visa priority date is the date on which an EB-5 investor properly files Form I-526E (for Regional
Center investments) or Form I-526 (for direct investments) with USCIS, as shown in the USCIS
receipt notice. This date establishes the investor’s place in line for one of the limited number of
EB-5 immigrant visas issued annually, subject to the statutory cap and per-country limits. For
investors from high-demand countries—such as China or India—where visa demand exceeds
availability, the priority date determines when they may proceed with consular processing or
adjustment of status. To track visa availability, investors must review the U.S. Department of State’s
monthly Visa Bulletin, which publishes cut-off dates by country and category. The EB-5 visa
category (which is listed in the monthly Visa Bulletin as one of the Employment-Based visa
categories) has multiple sub-categories depending in some cases on the investor’s or spouse’s

country of birth, as well as whether the underlying investment is in a pre-RIA project or in an post-
RIA TEA category. If an investor’s priority date is earlier than the published Final Action Date, a visa is available. If not, the investor must wait until the date becomes current.

The monthly Visa Bulletin includes two key charts: the Final Action Dates Chart, which controls
when visas may actually be issued, and the Dates for Filing Chart, which may allow investors in the
U.S. who are eligible to submit an I-485 Adjustment of Status Application to do so even if a visa is
not immediately available under the Final Action Dates. Each month, USCIS announces which chart
I-485 applicants may use. It is important to check which chart—Final Action Dates or Dates for
Filing—USCIS has authorized for use that month before filing an I-485 application. Investors from
countries with backlogs—known as visa retrogression—must closely monitor the Visa Bulletin to
know when they are eligible to file and when visas may be granted. Staying current with the
Bulletin is especially important for planning filing timelines and assessing age-out risks for
dependent children.

For official updates, refer to the U.S. Department of State Visa Bulletin.

Consular processing is the required pathway for EB-5 investors residing outside the United States
(or otherwise ineligible for or choosing not to use adjustment of status within the U.S.) to obtain
an immigrant visa after USCIS approval of their Form I-526E and confirmation of visa availability.
The process is initiated by USCIS sending an investor’s approved I-526/E petition to the National
Visa Center (NVC), which will then issue a Welcome Letter and Fee Invoice to commence the
immigrant application process. The investor (and any immediate family members) then must pay
the fees and submit the online Form DS-260 Immigrant Visa Application followed by civil
documents. A visa interview is then scheduled at a U.S. embassy or consulate, prior to which all
the visa applicants must undergo medical exams with a U.S.-designated doctor (civil surgeon). At
the visa interview, a U.S. consular officer reviews eligibility and confirms maintenance and
legitimacy of the EB-5 investment. Upon approval, the investor and qualifying family members are
issued immigrant visas which they must use to enter the U.S. within 6 months. Upon admission
to the U.S. pursuant to their immigrant visas, they become Conditional Permanent Residents (valid
for 2 years). Lawful Permanent Resident cards (“Green Cards”) are mailed to the investor in the
United States.

Processing times vary: NVC processing typically takes 3 to 8 months, while interview scheduling
may require an additional 1 to 6 months depending on consular workload and country-specific
conditions. If an investor fails to act on NVC instructions within one year, the immigrant visa case
may be terminated and the I-526/E petition canceled under INA Section 203(g) and file returned
to USCIS, possibly resulting in loss of the original priority date and the need to restart the entire
immigration process. Prompt communication with the NVC and timely compliance with all
requirements are essential to avoid delays or termination.

EB-5 investors abroad must pursue consular processing, while those already in the U.S. on valid
nonimmigrant visas may be eligible to adjust status by filing Form I-485. Adjustment of status
allows investors to remain in the U.S. while their application is pending and provides eligibility for
work authorization and advance parole (travel permission). In contrast, consular processing
requires applicants to remain outside the U.S. and attend an in-person interview abroad but may
offer faster visa issuance in some cases. USCIS determines AOS eligibility based on factors such as
visa availability, maintenance of lawful status, and admissibility.

Investors who have an existing B-1/B-2 visitor visa and are awaiting consular processing, may
travel to the U.S. for temporary visits. However, the B-1/B-2 visitor visa is for nonimmigrant
purposes, and the existence of a pending EB-5 petition (the I-526 or I-526E Petition) may be
viewed as evidence of immigrant intent. Thus, it is possible that investors who apply for a visitor
visa after submission of an I-526 or I-526E petition may be denied the B-1/B-2 visa. Applicants
should be prepared to demonstrate strong ties to their home country and a legitimate short-term
reason for U.S. travel. In most cases, immigration counsel advises against applying for a visitor
visa during this stage unless absolutely necessary.

Further, applying for I-485 adjustment of status while in the U.S. on a B-1/B2 visa carries significant
risk of being found to have misrepresented immigrant intent as the investor entered the U.S. on
a short-term non-immigrant visa. USCIS could deny adjustment in its discretion (with the investor
then needing to switch to immigrant visa processing abroad) or make a formal finding of
misrepresentation (resulting in permanent inadmissibility to the U.S. absent discretionary waiver).

USCIS may deny an EB-5 petition for several reasons, most commonly due to failure to prove that
the investment funds were lawfully sourced and properly transferred. Investors must provide
detailed documentation demonstrating both the lawful origin and clear path of funds to the NCE.
Petitions may also be denied for failure to create or preserve the required ten full-time jobs for
U.S. workers, if the submitted economic analysis, business plan, or job creation model is
inadequate or inconsistent with program requirements. In addition, petitions can be denied if the
investment was not truly “at risk,” such as where there are redemption agreements, guaranteed
returns, or similar risk-mitigating structures. Material changes to the investment structure or
project after the petition is filed—particularly those affecting job creation, capital flow, or regional
center sponsorship—may also trigger denial. Finally, fraud, misrepresentation, or inadmissibility
issues (such as criminal history or prior immigration violations) can result in denial, as can
noncompliance or termination of the affiliated Regional Center, unless good faith investor
protections apply under the RIA.

If an I-526E petition is denied, the investor will receive a written notice outlining the grounds for
denial. Depending on the circumstances, the investor may choose either to file an appeal to the USCIS Administrative Appeals Office (AAO) or file a motion for USCIS to reopen or reconsider the
decision (using Form I-290B), particularly if the denial resulted from factual errors or legal
misapplication or if there is newly available evidence. In other cases, an investor may choose to
submit a new I-526E petition, although this typically results in a new priority date (and the
heightened risk of a child aging out) unless the investor qualifies for priority date retention under
the RIA.

If an I-829 petition is denied, CPR status is generally terminated, and the investor may be placed
in removal proceedings. If USCIS does not start removal proceedings, the investor may file a
motion to reopen the I-829, especially if new helpful evidence is available, but appeal to the AAO
is not available unless USCIS chooses to “certify” novel issues to the AAO on its own initiative. In
removal proceedings, the I-829 may receive a de novo review by an immigration judge, allowing
the investor to present additional evidence. A new EB-5 petition may also be possible, though the
investor must again meet all investment and eligibility requirements. Counsel should be consulted
for other possible remedies.

Yes, after exhausting appeal to the AAO, investors may pursue litigation in federal court to
challenge unlawful denials of most EB-5 filings under the Administrative Procedure Act (APA).
Federal lawsuits are often appropriate when USCIS has acted arbitrarily, misapplied legal
standards, or unreasonably delayed adjudication. Federal courts have no jurisdiction to review an
I-526/E petition revocation, even though they can review a petition denial. Federal court appeal
of an I-829 denial is only available after completing removal proceedings and appeal to the Board
of Immigration Appeals. While litigation does not guarantee success, it may provide a remedy in
cases of improper agency action, and investors pursuing this path should work closely with
counsel experienced in immigration litigation.

The RIA provides protections for good faith investors whose projects or Regional Centers are later
found to be noncompliant or are terminated. If the investor made the investment in good faith
and without knowledge of fraud or wrongdoing, and if the investment met EB-5 requirements at
the time of filing, USCIS may allow the investor to reassociate with a new Regional Center or
reinvest in a qualifying project, potentially while retaining their original priority date. To reduce
the risk of denial, investors should conduct thorough due diligence on the Regional Center,
project, job creation model, and offering structure. They should ensure that all source-of-funds
documentation is comprehensive and verifiable, and that the investment remains at risk
throughout the sustainment period. Working with experienced immigration and securities counsel
and maintaining awareness of changes in EB-5 policy are essential to proactively addressing
compliance issues and preserving eligibility throughout the petition process.

The EB-5 Program is dynamic and subject to statutory, regulatory, policy, and adjudicatory
changes. Investors and their counsel should routinely monitor USCIS announcements, the Visa
Bulletin, and any relevant updates to the USCIS Policy Manual. The RIA introduced new oversight
and compliance obligations, including increased transparency in fund administration and project
reporting.

Before filing the I-829 petition, investors should verify that their investment remained at risk for
the required sustainment period, that job creation goals were met, and that supporting
documentation is up to date and complete. After obtaining a Green Card, long-term
considerations include U.S. tax planning, maintaining permanent resident status, and eventual
naturalization eligibility. Regular consultation with legal and financial professionals ensures
compliance and preparedness for any changes that may affect the investor’s immigration or
financial position.