On July 2, 2026, the U.S. Department of Homeland Security (DHS) published a new regulatory proposal to strengthen the employment-based, fifth preference (EB-5) "investor" visa category and further implement the EB-5 Reform and Integrity Act of 2022 (RIA), which substantially reformed the EB-5 program. The proposal is titled “EB-5 Reform and Integrity Act of 2022; Ensuring the Integrity of the EB-5 Program; Automatic Revocation of Petitions for Immigrant Classification”.
While the rule largely implements and codifies changes that have already been in effect since the RIA was enacted, this rule also proposes to raise the minimum investment threshold to $1.4 million for projects located areas that DHS designates as “High Employment Areas” and adds several new definitions that are intended to strengthen program integrity. Statute allows the secretary of Homeland Security to set a minimum investment amount up to three times higher than the standard investment requirement in these regions.
In general, under the EB-5 program aliens are eligible to apply for lawful permanent resident status in the United States if they make the necessary investment in a new commercial enterprise in the United States and create 10 permanent, full-time jobs for qualified U.S. workers. With the amendments made by the RIA, aliens who invest at least $1.05 million in new commercial enterprises (NCE) that create at least 10 full-time jobs for qualifying employees in the United States are generally eligible for lawful permanent residence status (a green card). An alien only needs to invest $800,000 if the investment is made in a Targeted Employment Area (TEA) or in an infrastructure project. A TEA is a rural area or an area designated by DHS as an area of high unemployment.
About 9,940 immigrant visas are available each fiscal year for aliens eligible under the EB-5 program. Moreover, the Immigration and Nationality Act reserves 20 percent of these visas annually for qualified aliens who invest in a rural area, 10 percent for qualified aliens who invest in a high unemployment area, and 2 percent for qualified aliens who invest in an infrastructure project.
In addition to raising the minimum investment threshold for projects located in “High Employment Areas”, the rule gives USCIS a detailed regulatory framework to use when it uncovers abuse or security vulnerabilities in the EB-5 program. Specifically, the rule expressly authorizes USCIS, when it uncovers fraud, abuse, criminal misuse, or other public safety or national security threats, to:
- Deny EB-5 petitions;
- Revoke approved petitions;
- Terminate conditional permanent residence;
- Terminate regional centers;
- Permanently debar participants.
The proposed rule also expressly authorizes USCIS to suspend regional centers, new commercial enterprises, job-creating entities, and promoters during pending investigations.
These provisions stem from the RIA, which added discretionary authorities to deny or revoke benefits when DHS determines that there is a threat to public safety or national security or when a benefit request under the EB-5 program is based on fraud, deceit, intentional material misrepresentation, or criminal misuse. As DHS explained, “Previously, without these provisions, USCIS could not directly act on petitions or applications that involved threats to public safety or national security without a related statutory basis for ineligibility or termination that could provide USCIS reason to terminate a regional center's designation or prohibit the involvement of individuals or petitioners with ties to foreign governments hostile to the United States.” Moreover, “Due to the lack of explicit statutory authority, USCIS could not always timely terminate a regional center actively engaged in fraud to prevent larger losses to alien investors and bolster the ongoing integrity of the EB-5 program.”
The proposal also will implement many integrity measures Congress adopted in 2022, including annual reporting requirements, Integrity Fund fees, audit requirements, recordkeeping requirements, promoter registration, disclosure requirements, and sanctions for noncompliance.
Public Participation Opportunity
Anyone can take part in this rulemaking process by submitting a public comment. The comment period for this proposed rule will close on August 31, 2026. Until then, any member of the public can submit feedback, including support, opposition, or relevant policy alternatives, through regulations.gov by searching “DHS Docket No. USCIS-2026-0100”. Generally, all comments are publicly available for review, and agencies must review and respond to all relevant comments before they can finalize the regulation.