EB-5 After the Grandfathering Deadline: Five Practical Tips for Prospective Investors
Investor demand for EB-5 investment opportunities has surged during the lead up to the September 30, 2027 grandfathering deadline.
This means a couple of things: first, there is still a strong desire for international entrepreneurs, students, and executives to pursue a future in the United States; and second, the EB-5 program under the Reform and Integrity Act of 2022 (RIA) is not just holding steady, but thriving.
1. What Does the End of the Grandfathering Period Actually Mean for New EB-5 Investors?
The first step is understanding that the EB-5 program will continue beyond September 30, 2026.
Investors may pursue EB-5 investments while the program remains authorized, currently through September 30, 2027.
This includes taking advantage of concurrent filing wherein you can benefit from travel and work authorization while your EB-5 petition is pending adjudication.
The notable change is that there is no guarantee that petitions and applications filed after September 30, 2026 will continue to be adjudicated if the program sunsets and is discontinued after September 30, 2027.
But that risk goes away if Congress reauthorizes the EB-5 program in 2027.
2. What Upcoming Dates and Potential Changes Should You Be Aware Of?
There are two key dates to be aware of:
• January 1, 2027: Beginning January 1, 2027, the RIA requires that minimum investment amounts to be adjusted for inflation for the first time since the RIA was enacted. Industry stakeholders believe the new minimum investment amount could increase from $800,000 to $900,000 or even as high as $950,000.
• September 30, 2027: As referenced above, this is the current sunset date of the EB-5 Regional Center Program.
The federal government is also reviewing, in accordance with the NPRM process, the comments provided in response to recently proposed EB-5 regulations. It could be a year, possibly less and potentially longer, for the Department of Homeland Security to complete the rulemaking process and issue final EB-5 program regulations.
3. Should You Wait for Congress to Act Before Starting the EB-5 Process?
If you are ready begin the EB-5 journey, meaning you are comfortable with your regional center and project selection, as well as your immigration lawyer, you do not have to wait for Congress to renew the program. You should consider how important it is to lock in a priority date for your eventual visa application and the benefit of moving forward before the increase in the minimum investment level in January 2027.
For nationals of certain countries with high demand for immigrant visas to the U.S., most notably China and India, establishing a priority date as early as possible can help minimize delays in the visa process.
The best-case scenario would be for Congress to take action during the next legislative session in November 2026 to either extend the grandfathering protections or reauthorize the program. This would provide some stability for investors and practitioners after September 30, 2026.
Industry stakeholders are already engaged in advocacy efforts in Washington, DC to extend the Regional Center Program beyond September 30, 2027.
Preparing an EB-5 petition can take time, particularly when documenting the lawful source and path of investment funds. It is extremely important that you work with an experienced attorney in preparing your EB-5 petition, and do not let the pressure of these upcoming program changes drive you to file before you are ready.
4. What is the Impact on EB-5 Project Applications (I-956Fs)?
Adjudication of EB-5 project applications will also continue after September 30, 2026, meaning there will be new inventory on the market in the coming months. Regional Centers will also continue to accept new investment for currently approved I-956F projects.
The process for developing new EB-5 investment projects takes months of careful due diligence on the part of regional centers, so it is expected that that process will continue through the next year in hopes that the program will be renewed in 2027.
That said, some regional centers will hold off on launching new projects until there is greater certainty about program reauthorization. Following that, it means there may be increased competition for investors seeking to get into the most reputable projects.
The best bet is to start the process of selecting a project and preparing to file your petition as early as you can.
5. What Should You Do Next to Prepare to File?
Conduct EB-5 Project Due Diligence: Selecting a regional center and the right project is one of the most important steps in any investor’s EB-5 process. Now is the time to evaluate available projects and conduct due diligence. Choosing a project and completing the necessary due diligence can take time, so begin evaluating potential investments early.
Consider the project’s organizational structure, job creation, financing, development status, and the experience and track record of the regional center and project team. Ask the regional center or NCE representatives what their plans are in the event of EB-5 program sunset.
Build Your Team of Advisors: EB-5 regional center investment involves a journey that is not travelled alone. Your success in the process requires working with a team of experts including counsel, your chosen regional center, and possibly agents or broker-dealers who all play an important role in the process.
Building your team early will make it easier to file according to your timeline.
Organize Your Source of Funds: For many investors, documenting the lawful source and path of their investment capital is one of the most time-consuming parts of preparing an EB-5 petition.
Even an investor who is not ready to file immediately can begin working with immigration counsel to identify the anticipated source of funds, gather historical records, and address documentation gaps.
If you are uncertain that you’ll be able to file your petition before the investment minimums increase in January 2027, you should gather evidence for an investment of $900,000 or $950,000.
Conclusion
While the passage of the grandfathering deadline introduces some uncertainty into the EB-5 market, the fundamentals remain the same.
The EB-5 program under the RIA is achieving Congress’s goals of driving investment into rural and high unemployment areas in need of economic growth and job creation, while creating a solid pathway for permanent residence for investors.
It is up to investors to determine if they want to pursue these opportunities now, accepting the risk of possible program sunset, to lock in the advantages of the program as it exists today.
Christopher Mason – Chief Communications Officer
Christopher A. Mason is the Chief Communications Officer at ALC, with more than a decade of experience across the public and private sectors. He previously served in senior roles at U.S. Citizenship and Immigration Services (USCIS), including as Chief Economist for the Immigrant Investor Program Office (EB-5), where he oversaw the review of billions of dollars in foreign investment projects and supported regulatory and program integrity initiatives. His background strengthens ALC’s global engagement and leadership in EB-5 communications.
