What is the EB-5 visa program in simple terms?

The EB-5 program allows foreign nationals to obtain a U.S. green card (permanent residence) by investing in an American business that creates jobs. In exchange for putting capital into a qualifying project, the investor and their immediate family (spouse and children under 21) receive conditional green cards allowing them to live and work anywhere in the United States.

The two essential requirements are a qualifying investment and job creation. The minimum investment is $800,000 for projects in a Targeted Employment Area (a location designated by the government as rural or high unemployment) or $1,050,000 for projects elsewhere. The investment must create at least 10 full-time jobs for U.S. workers.

The green card is initially "conditional," meaning it lasts two years. After that period, the investor files a petition (Form I-829) to remove the conditions and receive a permanent green card. The program was created by Congress in 1990 and most recently updated by the EB-5 Reform and Integrity Act of 2022, which added investor protections and new project categories.