After selecting a project and transferring your investment funds to escrow, the next major milestone is filing Form I-526E, Immigrant Petition by Regional Center Investor. This petition is the foundation of your EB-5 case, demonstrating to USCIS that you and your chosen project meet all program requirements.
What is the I-526E Petition?
The I-526E petition formally asks USCIS to recognize you as a qualified immigrant investor. A successful petition proves two main things:
- You are a qualified investor: This is primarily demonstrated through your comprehensive Source of Funds (SOF) documentation, proving your capital is from a lawful source.
- Your chosen project is a qualified investment: This is shown through the project's business plan, economic impact report, and evidence that your capital has been invested and will create the required jobs.
Your immigration attorney will compile your personal documentation and the project's documentation into a single, comprehensive package for submission to USCIS.
The "At-Risk" Requirement
A fundamental rule of the EB-5 program is that your investment capital must be "at-risk." This means the investment cannot be guaranteed to be returned. The purpose is to ensure the EB-5 investment is a true, risk-bearing investment in the U.S. economy, not just a loan to buy a Green Card.
- You cannot have a guaranteed buy-back agreement or a promise of return from the project.
- The investment must be in a new commercial enterprise (NCE), and the funds must be used to create jobs.
- This is why thorough due diligence is so important—while the investment must be at-risk, you want to select a project with a high probability of success to mitigate that risk.
Expert Tip
Under the Reform and Integrity Act of 2022, investors can now file their I-526E petition concurrently with an application to adjust status (Form I-485) if they are already in the U.S. on a valid non-immigrant visa. This is a major benefit that can significantly speed up the process of getting work authorization.
After You File: What to Expect
Once your attorney files the I-526E petition, the waiting period begins. Here is the typical sequence of events:
- Receipt Notice: Within a few weeks, you will receive a receipt notice from USCIS confirming they have received your case. This notice includes your receipt number, which you can use to track your case status online.
- Processing: USCIS will adjudicate your petition. Processing times vary based on caseloads and whether you invested in a rural or high-unemployment project, which receive priority processing.
- Request for Evidence (RFE) or Denial: In some cases, USCIS may issue an RFE if they need more information, or a denial if the case does not meet the requirements. A well-prepared petition minimizes this risk.
- Approval: Once approved, your case moves to the next stage: applying for your visa.
Patience is key during this stage. Rely on your immigration attorney for updates and be prepared for a processing time that can range from several months to over a year.
