Four years after Congress passed the EB-5 Reform and Integrity Act of 2022 (RIA), USCIS has finally proposed the regulations needed to implement it. Published July 2, 2026, this massive 127-page proposed rule rewrites the rules for foreign investors seeking U.S. green cards through the EB-5 program — touching everything from minimum investment amounts to fraud enforcement to how regional centers must operate.
Key Points
- What: USCIS proposed rule implementing the EB-5 Reform and Integrity Act of 2022, overhauling regulations for foreign investor visa applicants and Regional Centers
- Who: EB-5 immigrant investors, Regional Centers, New Commercial Enterprises, Job-Creating Entities, and their legal counsel
- When: Public comment period closes August 31, 2026; final rule effective date not yet set
- Impact: Significant changes to investment thresholds, job creation rules, fraud enforcement, and Regional Center oversight could affect eligibility and processing for thousands of EB-5 applicants
What's Changing — and Why It Took So Long
The EB-5 program lets foreign nationals obtain U.S. permanent residency by investing in a business that creates at least 10 full-time jobs for American workers. The RIA was signed by President Biden in March 2022 to fix well-documented fraud problems and program abuses — but the regulations to actually enforce it have been pending ever since. This proposed rule finally fills that gap.
Key Changes in the Proposed Rule
New investment minimums are already law — the proposed rule codifies them:
- $1.05 million for standard investments in a new commercial enterprise
- $800,000 for investments in a Targeted Employment Area (TEA) — a rural or high-unemployment region — or an infrastructure project
Job creation rules get stricter. The rule eliminates the use of repaid bridge financing as a way to demonstrate job creation. This closes a loophole that had let some investors count temporary construction-related financing toward their job creation requirement.
Fraud and national security tools. DHS gains new authority to suspend, debar, or terminate Regional Centers, New Commercial Enterprises, and Job-Creating Entities for fraud or national security threats — with monetary penalties as an enforcement option.
Regional Centers face tighter oversight. The rule requires audits, expanded recordkeeping, registration of third-party promoters, and new bona fide requirements for people involved in operating Regional Centers.
Investor protections added. Good-faith investors who were misled by bad-actor Regional Centers gain new protections, including amended petition processes if their Regional Center is terminated.
Priority date retention is being formally implemented, which matters for investors from oversubscribed countries like China and India facing long visa backlogs.
Troubled businesses removed as an eligibility avenue. Previously, investors could meet job-creation requirements by preserving jobs at a struggling business. That pathway is being eliminated.
The Cost of Compliance
DHS estimates annualized economic impacts between $38.8 million and $85.4 million per year (at a 7% discount rate), affecting investors, Regional Centers, and associated businesses. Most costs stem from new administrative, documentary, and auditing requirements — not direct fees.
What You Should Do
This is a proposed rule — nothing is final yet. But the comment period closes August 31, 2026, and your input can shape the final regulation.
- EB-5 investors: Review how the job creation changes and investment threshold codification affect your current or planned petition.
- Regional Centers: Pay close attention to new audit, recordkeeping, and promoter registration requirements — and comment if the compliance burden seems unworkable.
- Immigration attorneys: Submit targeted comments referencing specific CFR sections, with data to back up any recommended changes. Generic comments carry less weight.
- Submit comments at regulations.gov, Docket No. USCIS-2026-0100. No emails, no mail — online only.