New York is one of the world’s most prominent business hubs, and for foreign nationals looking to invest in the U.S. and secure permanent residency, the EB-5 Immigrant Investor Program offers a clear and well-defined path. At Stelmakh & Associates, our team has guided investors through every stage of the EB-5 process — from selecting the right investment vehicle to filing the final green card application. If you are exploring investment-based immigration options, our New York immigration attorneys are ready to help.
The EB-5 program rewards foreign investors who channel capital into U.S. businesses and create jobs for American workers. In return, investors, their spouses, and unmarried children under 21 become eligible for lawful permanent residence. While the program is federal in scope, working with an experienced immigration attorney based in or serving New York makes a significant difference — especially when managing complex documentation and time-sensitive filing deadlines.
What Is the EB-5 Immigrant Investor Program?
The EB-5 program was established by Congress in 1990 under the Immigration Act to stimulate the U.S. economy through job creation and capital investment by foreign nationals. Since then, it has become one of the most sought-after paths to permanent residency for high-net-worth individuals who want to establish deeper roots in the United States without relying on employer sponsorship or an extraordinary ability petition.
Unlike other employment-based categories, the EB-5 does not require a job offer, labor certification, or a specific professional background. The pathway is open to any foreign national who meets the investment and job creation requirements — making it attractive to entrepreneurs, business owners, and investors across diverse industries and countries of origin.
It is worth noting that not every investor is a candidate for EB-5. For those with a strong professional or entrepreneurial record, alternatives like the EB-1A Extraordinary Ability Green Card or the EB-2 National Interest Waiver may offer a faster or more cost-effective route. Our New York attorneys can evaluate your profile and recommend the most suitable strategy. Our blog article Comparing EB-5 and EB-1A Green Card Pathways provides a useful side-by-side breakdown.
Core Requirements for the EB-5 Green Card
To qualify for an EB-5 visa, a foreign investor must satisfy three primary conditions:
1. Minimum Capital Investment
The required minimum investment depends on where the project is located:
- Standard investment: $1,050,000 in a new commercial enterprise
- Targeted Employment Area (TEA) and specific project investment: $800,000 — applicable to rural areas, regions with unemployment at least 1.5 times the national average, or qualifying infrastructure projects administered by a government entity.
- High-unemployment urban area investment: $800,000 — if the project qualifies under USCIS TEA designation rules
All invested funds must be placed “at risk,” meaning there is no guarantee of return. The investor must demonstrate that the capital came from lawful sources.
2. Job Creation
The investment must result in the creation of at least 10 full-time positions for qualifying U.S. workers. The nature of that job creation depends on whether the investor chooses a direct investment or a regional center investment:
- Direct investment: The investor’s enterprise must directly hire 10 or more full-time employees on the company’s payroll
- Regional center investment: Jobs may be created indirectly through the economic impact of the investment, which is calculated using approved economic methodologies
3. Investment in a New Commercial Enterprise
The investment must go into a lawful, for-profit U.S. commercial enterprise that was established after November 29, 1990, or that was restructured or expanded in a qualifying way after that date. Real estate purchases alone and passive investments do not qualify.
Direct Investment vs. Regional Center: Which Path Is Right for You?
Most EB-5 investors choose the regional center route because it allows for indirect job creation and requires less hands-on involvement in day-to-day business operations. Regional centers are USCIS-designated entities that pool investor funds into pre-approved development or infrastructure projects.
The direct investment path gives investors more control but demands active management of the enterprise and the ability to document direct employment. For investors already running or planning a U.S. business, direct investment may be the more natural fit.
Our team can walk you through both options in detail and help you evaluate the risk profile, expected timeline, and documentation requirements of each. We also assist clients who are exploring E-2 Treaty Investor Visas as a temporary entry strategy that can complement or precede an EB-5 petition.
The EB-5 Application Process: Step by Step
The EB-5 application involves multiple federal agencies and proceeds in stages. Understanding the full timeline helps investors plan their finances and immigration strategy accordingly.
Step 1: Select Your Investment
Choose between a USCIS-designated regional center project or a direct investment in your own qualifying enterprise. Due diligence on the investment vehicle is critical — our attorneys work alongside financial advisors to help clients evaluate offerings before committing capital.
Step 2: File Form I-526E (Regional Center) or I-526 (Direct)
This petition is filed with USCIS and establishes that the investor’s capital meets program requirements, the source of funds is lawful, and the investment is in a qualifying enterprise. Processing times for I-526 and I-526E petitions vary significantly — currently ranging from 12 to 36 months or more, depending on caseload and country of origin. Investors from high-demand countries such as China, India, and Vietnam may encounter visa backlogs due to the annual per-country limits on EB-5 visas. See our update on the May Visa Bulletin and EB-1/EB-2 retrogression trends for current priority date context.
Step 3: Consular Processing or Adjustment of Status
Once the I-526/I-526E is approved, investors who are outside the United States proceed through consular processing at a U.S. embassy or consulate. Those already in the U.S. on another valid visa may apply for adjustment of status by filing Form I-485, provided a visa number is immediately available.
Step 4: Conditional Green Card (2-Year Period)
Approved investors and their qualifying family members receive a conditional permanent resident card, valid for two years. During this window, the investment must remain at risk and the required jobs must be created.
Step 5: File Form I-829 to Remove Conditions
Within the 90-day window before the conditional green card expires, the investor must file Form I-829 to remove the conditions on residence. USCIS will verify that the investment was sustained, jobs were created, and the investor complied with all program requirements. A successful I-829 approval results in a full, unconditional lawful permanent resident card.
Why New York Investors Choose Stelmakh & Associates
New York’s investment landscape — spanning real estate, technology, finance, and hospitality — creates diverse EB-5 opportunities. But the complexity of the program demands attorneys who understand both federal immigration law and the specific expectations of the New York market.
Stelmakh & Associates has built a reputation for meticulous case preparation, transparent communication, and high approval rates across employment-based immigration categories. Our attorneys work closely with clients on source-of-funds documentation, business plan review, and coordination with regional center administrators to ensure every petition is filed correctly and compellingly.
Investors who may also qualify under other self-petitioned green card categories are encouraged to read our comparison: When EB-1A Is the Better Choice Over EB-5. And for entrepreneurs considering temporary entry as a bridge strategy, our startup founder immigration services page outlines the options available in New York.
Our New York team is part of a broader practice that also serves San Francisco EB-5 investors, providing consistent, nationally coordinated counsel for clients with multi-city or multi-state business interests.
Related Investment and Entrepreneur Immigration Pathways
Depending on your business goals, country of origin, and investment profile, you may also wish to explore:
- E-1 Treaty Trader Visa — for nationals of treaty countries engaged in substantial trade with the U.S.
- E-2 Treaty Investor Visa (NYC) — a nonimmigrant option for investors from treaty countries who want to manage a U.S. business
- EB-1(C) Multinational Manager Green Card — for executives and managers transferring to a U.S. affiliate, subsidiary, or parent company
- L-1 Intracompany Transferee Visa (NYC) — for managers, executives, and specialized knowledge employees relocating to a related U.S. entity
Each of these pathways has distinct eligibility criteria, visa duration, and permanent residency implications. Our attorneys can help you map out the right sequence of steps based on your timeline and long-term goals.
Frequently Asked Questions: EB-5 Green Card in New York
Q: How much do I need to invest to qualify for an EB-5 green card?
The minimum investment is $1,050,000 for most projects or $800,000 for investments in a Targeted Employment Area (TEA), which includes rural regions and urban areas with high unemployment. All funds must come from lawful sources and be placed at risk within the qualifying enterprise.
Q: Does the EB-5 program require me to manage the business myself?
Not necessarily. Under the regional center pathway — which is the most common route — investors are not required to take an active role in managing the business. Regional centers pool capital from multiple investors into large-scale approved projects, and job creation is measured indirectly. Direct investment, however, typically requires a more involved management role.
Q: How long does it take to get an EB-5 green card?
Processing timelines vary considerably depending on your country of birth, USCIS caseload, and whether a visa number is immediately available. The I-526/I-526E petition phase alone can take one to three years or more. Investors from countries with high EB-5 demand — such as China and India — may face additional wait times due to per-country limits. Your attorney can provide a more tailored timeline estimate based on current conditions.
Q: Can my family members get green cards through my EB-5 investment?
Yes. Your spouse and unmarried children under the age of 21 are included in your EB-5 petition and can receive conditional green cards along with you, provided they are named as derivative beneficiaries. Each family member’s case must also comply with all applicable admissibility requirements.
Q: What is the difference between conditional and unconditional permanent residence?
An EB-5 investor initially receives a two-year conditional green card. Before the conditions expire, you must file Form I-829 to demonstrate that the investment was maintained, at least 10 jobs were created, and you complied with program requirements. A successful I-829 result in full, unconditional lawful permanent resident status.
Q: Can I use a loan or gift to fund my EB-5 investment?
USCIS requires investors to demonstrate that their capital was obtained through lawful means. In some circumstances, funds obtained through loans secured by the investor’s own assets may qualify. However, the evidentiary burden for tracing the source of funds is significant, and thorough documentation is essential. An immigration attorney should review the source-of-funds structure before the petition is filed.
Q: What happens if the regional center project fails?
The EB-5 program does not guarantee a return on investment. If a regional center project fails or shuts down, the investor may need to redeploy capital into a qualifying alternative project within a defined period to protect the immigration petition. USCIS has established procedures for investors in failed regional centers, but navigating them requires prompt legal guidance.
Schedule a Consultation With Our New York EB-5 Immigration Team
The EB-5 program is one of the most complex pathways in U.S. immigration law — combining capital investment, business planning, USCIS compliance, and multi-year case management into a single integrated process. A single documentation error or missed deadline can have serious consequences for your petition.
Stelmakh & Associates provides dedicated EB-5 counsel to investors in New York and across the United States. Whether you are in the early stages of evaluating the program or ready to begin your I-526 filing, we are here to guide you through every step. To learn more about our full range of services, visit our investment visa practice page or contact our office directly to schedule a confidential consultation.
Stelmakh & Associates
Phone: +1 206-605-0550
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