Direct EB-5 Investment

The investor may establish a new business, purchase and restructure a qualifying older business, or expand a qualifying enterprise under the applicable rules.

The investor should distinguish a direct business investment from a pooled Regional Center Program offering.

Direct EB-5 generally refers to a standalone investment outside the Regional Center Program. The investor may create a new business or, where the statutory and regulatory requirements are satisfied, restructure or expand an existing enterprise. Current Form I-526 instructions distinguish a standalone investor from an investor who pools EB-5 capital with additional qualified immigrant investors through the Regional Center Program. The business structure should therefore match the form selected. Ordinary non-EB-5 owners or capital can participate in the enterprise, but the filing should clearly identify ownership, capitalization, and which investor's petition relies on which qualifying investment and jobs.

Current USCIS instructions state that an investor who is not pooling the investment with additional EB-5 investors uses Form I-526.

A standalone investor files Form I-526. Current USCIS instructions require the petition to establish the qualifying investment in the new commercial enterprise, lawful source and path of capital, management participation, and job creation. Because there is no separate Form I-956F project application, the investor's own filing must contain the business and project evidence needed for adjudication. Formation records, governing documents, bank records, the business plan, licenses, contracts, staffing projections, and operating evidence may all be important. The petition should be organized by eligibility element so USCIS can evaluate the enterprise without relying on an external regional center project record.

USCIS policy states that outside the regional center context the full-time positions generally must be created directly by the new commercial enterprise or its qualifying wholly owned subsidiaries.

Outside the regional center context, qualifying jobs generally must be created directly by the new commercial enterprise or its qualifying wholly owned subsidiaries. The enterprise must itself be the employer of the workers counted for the petition, rather than relying on indirect employment generated at unrelated businesses. Existing jobs can be documented through payroll, tax records, Forms I-9, and similar evidence. If the jobs are prospective, a comprehensive business plan should explain the positions, approximate hiring dates, duties, wages, and business need. The staffing plan should align with projected operations and financial capacity rather than simply list ten positions.

A direct investor commonly exercises substantial operational or policy control, but the legal requirement should still be documented through the governing structure.

A direct investor must also satisfy the EB-5 management requirement. In many standalone businesses, the investor has substantial day to day authority over personnel, budgets, contracts, financing, strategy, or operations. That practical role should be supported by the operating agreement, bylaws, ownership records, organizational chart, and position description. Where professional managers handle daily operations, the investor may still qualify through policy formulation if the governing documents provide the required rights. The petition should describe the investor's actual legal role and avoid relying on a nominal officer title that is inconsistent with the business structure.

The business plan, capitalization, licenses, premises, financial projections, hiring schedule, contracts, and operating records should tell one coherent story.

The standalone business record should tell one coherent story about capitalization, operations, and employment. The business plan should match the amount invested, use of funds, facilities, licenses, contracts, equipment, operating schedule, revenue assumptions, and hiring timetable. Bank statements and accounting should show how the invested capital is being used. If the enterprise is acquiring or expanding an existing business, the filing should explain how the structure satisfies the applicable new commercial enterprise rules and how qualifying jobs will be created or preserved where permitted. Material inconsistencies between financial records and the plan can weaken otherwise credible projections.

• Form I-526
• NCE formation records
• Business plan
• Investment records
• Source and path of funds
• Management evidence
• Hiring plan
• Payroll evidence if jobs already exist

A standalone petition commonly includes Form I-526, NCE formation and ownership records, governing documents, proof of capital contribution, lawful source and path evidence, a comprehensive business plan, management evidence, licenses, leases, contracts, financial projections, and direct job evidence or a credible hiring plan. If the NCE uses wholly owned subsidiaries, the ownership chain and employment relationship should be documented. The filing should distinguish EB-5 capital from other financing and identify the source of all capital where required. A clear exhibit index helps USCIS connect each record to investment, source, management, and direct job creation requirements.