Investors and treaty traders: an official overview (EB-5, E-2, E-1)

Step 1 — Know the difference: permanent or temporary

EB-5 leads to a green card (lawful permanent residence) for investors, their spouses and unmarried children under 21, if they make the necessary investment in a U.S. commercial enterprise and plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers (USCIS — EB-5). E-1 (treaty trader) and E-2 (treaty investor) are temporary (“nonimmigrant”) categories for nationals of a “treaty country,” a country with a qualifying treaty or agreement with the U.S. (USCIS — E-1; USCIS — E-2).

In short, based on the official pages (USCIS — EB-5 process; USCIS — E-1; USCIS — E-2; State Department — E visas):

E status is temporary by design: USCIS says E holders must keep an intention to leave when their status ends (USCIS — E-1; USCIS — E-2). See also work visa types and green card basics.

Step 2 — EB-5: the money and the 10 jobs

The amount. For petitions filed on or after March 15, 2022, USCIS lists a minimum of $1,050,000, or $800,000 in a “targeted employment area” (TEA) — a rural area or one with unemployment of at least 150% of the national average (USCIS — About EB-5, updated November 18, 2025; USCIS — Permanent Workers). USCIS says the amounts will be adjusted for inflation, starting with petitions filed on or after January 1, 2027, so check the page before relying on any number (USCIS — About EB-5). Figures of $1.8 million and $900,000 on an older USCIS page come from a 2019 rule that a court vacated in 2021 (USCIS — EB-5).

At risk, and lawful. USCIS doesn’t count as capital, among other things, assets obtained unlawfully, money given in exchange for a debt (such as a note or bond), investments with a guaranteed return, or deals that give you a right to be paid back (USCIS — About EB-5).

The jobs. The business must create full-time positions (at least 35 hours a week) for at least 10 qualifying employees, such as U.S. citizens and green card holders — not you, your family or people on temporary visas (USCIS — About EB-5). Through a regional center, up to 90% of them may be “indirect” jobs created outside the business (USCIS — About EB-5).

Step 3 — EB-5: what a regional center is, and isn’t

A regional center is an economic unit, designated by USCIS, that promotes economic growth (USCIS — Regional Centers). Its investors file Form I-526E; standalone investors file Form I-526 (USCIS — I-526E; USCIS — I-526). The regional center program is authorized through September 30, 2027 (USCIS — About EB-5).

• Approval is not an endorsement. USCIS says approving a regional center doesn’t mean it endorses the center, doesn’t guarantee compliance with securities laws, and doesn’t reduce your risk (USCIS — Approved Regional Centers, updated October 26, 2026).
• Check the lists yourself. USCIS publishes approved and terminated regional centers; a terminated center may not look for investors (USCIS — Terminations).
• “U.S.” in a name proves nothing. USCIS warns that names with “United States,” “U.S.” or “Federal” may falsely suggest a government link, and that no one may use the DHS seal without written approval (USCIS — Cautions on names).

Step 4 — EB-5: from petition to a 2-year green card

USCIS describes four stages (USCIS — EB-5 process):

1. You file Form I-526 or I-526E.
2. After approval, you apply for an immigrant visa abroad (Form DS-260) or, inside the U.S., adjust status with Form I-485, which may be filed earlier if a visa is immediately available. Availability follows the Visa Bulletin, explained in employment-based green cards.
3. You and your family get conditional permanent residence for two years.
4. In the 90 days before the second anniversary, you file Form I-829. See removing conditions on a green card.

Fees changed in 2025. After a November 12, 2025, court decision, USCIS returned EB-5 fees to the levels in effect until March 31, 2024, while saying it believes the decision is incorrect (USCIS — Court order on EB-5 fees, November 18, 2025). Check the current Fee Schedule before you pay (USCIS — I-526).

Not the “Gold Card.” That separate program, created by a 2025 executive order, uses Form I-140G (USCIS — I-140G, updated October 9, 2026); see employment-based green cards.

Step 5 — E-1 and E-2: start with the treaty list

E visas depend on your nationality. Both USCIS pages link to the State Department’s list of treaty countries (USCIS — E-1; USCIS — E-2). On that list, some countries qualify only for E-1 or only for E-2, and footnotes add limits — for example, for Bolivia and Ecuador, E-2 is limited to investments made before a set date (State Department — Treaty Countries). The business needs that nationality too: people who have it must own at least 50% of it (State Department — E visas).

Step 6 — E-1 and E-2: what “substantial” means

E-1. “Substantial” trade is a continuous flow of numerous transactions over time, with no minimum value per transaction, and more than 50% of your international trade must be with your treaty country (USCIS — E-1).

E-2. You must have invested, or be actively investing, a substantial amount of capital in a real (“bona fide”) U.S. business, and come to develop and direct it, through at least 50% ownership or operational control (USCIS — E-2). The money must be at risk, and not come from criminal activity (USCIS — E-2). USCIS gives no fixed amount: “substantial” is measured against the cost of the business, and the lower that cost, the higher, proportionally, the investment must be (USCIS — E-2). Uncommitted money sitting in a bank account generally doesn’t count (State Department — E visas).

Not “marginal.” The business must be active and operating, and able to earn more than a minimal living for you and your family — for a new business, generally within five years (USCIS — E-2) — or have a significant economic impact in the U.S. (State Department — E visas). For setting up the company itself, see starting a business.

Employees with the same nationality can qualify in executive, supervisory or essential-skill roles (USCIS — E-1; USCIS — E-2).

Step 7 — E-1 and E-2: apply, then keep your status

• From abroad: you apply at a U.S. embassy or consulate, with the online Form DS-160; Form DS-156E is also required from all E-1 applicants and from E-2 executives, managers and essential employees (State Department — E visas). Inside the U.S., in another lawful status, a change of status is requested on Form I-129 (USCIS — E-2).
• Length: up to 2 years at first, then extensions of up to 2 years each, with no limit on their number (USCIS — E-2).
• Changes: you may work only in the approved activity, and big changes, such as a merger or a sale, need USCIS approval on a new Form I-129 (USCIS — E-2).
• Honesty: fraud or willful misrepresentation may lead to a permanent visa refusal (State Department — E visas).

Step 8 — Plan for your family

• EB-5: your spouse and unmarried children under 21 can apply with you (USCIS — EB-5), and they also get conditional residence (USCIS — EB-5 process).
• E-1 and E-2: your spouse and unmarried children under 21 may come with you or later, and they don’t need your nationality (USCIS — E-2). Spouses in valid E status may work “incident to status” (the status itself allows it), with a few exceptions (USCIS — E-1; USCIS — E-2). Each family member must track their own period of stay (USCIS — E-2). Details: spouses of visa holders.