EB-5 Immigrant Investor Program: 2025 Update for Turkish Investors

The EB-5 Immigrant Investor Program is one of the most direct paths to U.S. permanent residence available to Turkish nationals. By making a qualifying capital investment in a U.S. commercial enterprise that creates jobs for U.S. workers, Turkish investors and their immediate families (spouse and unmarried children under 21) can obtain U.S. green cards.

The program was significantly reformed by the EB-5 Reform and Integrity Act of 2022, which reauthorized the Regional Center program, increased investment thresholds, and introduced new investor protections. This guide covers the current EB-5 framework as it stands in 2025.

Targeted Employment Areas (TEAs) are either:

• Rural areas: Located outside a metropolitan statistical area (MSA) or outside a city/town with a population of 20,000 or more
• High unemployment areas: Areas with unemployment at least 1.5 times the national average

The vast majority of EB-5 investments are made in TEA projects at the $800,000 threshold.

The investment must create or preserve at least 10 full-time jobs for qualifying U.S. workers (U.S. citizens, permanent residents, or other authorized workers — not the investor or the investor's family).

• Direct investment: Jobs must be directly created by the enterprise
• Regional Center investment: Jobs can be direct, indirect, or induced (calculated using economic models)

The investment capital must be placed at risk for the purpose of generating a return. The investor cannot be guaranteed a return of capital or a specific rate of return.

In a direct EB-5 investment, the Turkish investor directly invests in and manages a U.S. commercial enterprise. The investor must be involved in the management of the enterprise (either as a policy-making officer or through a limited partnership or LLC structure).

Advantages:

• Full control over the investment
• No Regional Center fees
• Suitable for investors who want to actively manage a U.S. business

Disadvantages:

• Must directly create 10 qualifying jobs (no indirect job counting)
• Requires active management involvement
• More complex to structure

A USCIS-designated Regional Center is an organization that pools EB-5 capital from multiple investors for investment in a defined geographic area. Regional Center investments allow indirect and induced job counting, making it easier to satisfy the 10-job requirement.

Advantages:

• Passive investment — no management involvement required
• Indirect job counting (easier to satisfy job creation requirement)
• Professionally managed projects
• Wider variety of investment opportunities

Disadvantages:

• Regional Center fees (typically $50,000–$100,000)
• Less control over the investment
• Regional Center integrity risk (USCIS has terminated non-compliant Regional Centers)

2022 Act changes: The 2022 Reform and Integrity Act introduced significant new investor protections for Regional Center investments, including:

• Mandatory escrow until I-526E approval (for new Regional Centers)
• Enhanced USCIS oversight and auditing of Regional Centers
• New integrity measures to prevent fraud

The Turkish investor selects a qualifying EB-5 project (direct or Regional Center) and transfers the investment capital to the U.S. enterprise or escrow account.

Source of funds documentation: USCIS requires comprehensive documentation showing that the investment capital was lawfully obtained. For Turkish investors, this typically includes:

• Tax returns (Turkish and U.S.)
• Bank statements
• Business ownership documentation
• Real estate sale proceeds
• Inheritance documentation
• Gift documentation

The investor files Form I-526E (Regional Center) or Form I-526 (Direct Investment) with USCIS, demonstrating:

• The investment meets the minimum threshold
• The capital is at risk
• The enterprise will create 10 qualifying jobs
• The capital was lawfully obtained

Processing time: As of 2025, I-526/I-526E processing times range from 12 to 36 months, depending on USCIS workload and petition complexity.

Once the I-526/I-526E is approved:

• Turkish investors outside the U.S.: Apply for an EB-5 immigrant visa at the U.S. Consulate in Istanbul (consular processing)
• Turkish investors in the U.S.: File Form I-485 (Adjustment of Status) to obtain a green card without leaving the U.S.

Priority dates: EB-5 is subject to annual numerical limits. As of 2025, priority dates for Turkish nationals are current (no backlog), meaning there is no waiting period after I-526/I-526E approval.

Upon approval, the investor and family members receive conditional permanent residence (a 2-year green card).

Within 90 days before the 2-year conditional green card expires, the investor files Form I-829 to remove the conditions on permanent residence. The investor must demonstrate that:

• The investment was sustained throughout the conditional period
• The required jobs were created or preserved

Upon I-829 approval, the investor and family members receive unconditional permanent residence (a 10-year green card, renewable indefinitely).

The 2022 Reform and Integrity Act created three set-aside categories with reserved visa numbers:

The rural set-aside is particularly attractive because it has historically had shorter processing times and no backlog.

Source of funds documentation is one of the most scrutinized aspects of EB-5 petitions. Turkish investors should:

• Maintain comprehensive records of all assets and income
• Document the complete chain of custody of investment funds
• Engage experienced EB-5 counsel early in the process

Turkish investors considering Regional Center investments should conduct thorough due diligence:

• Review the Regional Center's USCIS designation and compliance history
• Review the project's financial projections and job creation methodology
• Review the offering documents (PPM, subscription agreement)
• Verify that the Regional Center has not been subject to USCIS enforcement action

EB-5 investors who obtain U.S. permanent residence become U.S. tax residents, subject to U.S. income tax on worldwide income. Turkish investors should engage U.S. tax counsel before filing the EB-5 petition to plan for the tax implications of U.S. permanent residence.

The EB-5 program remains one of the most direct paths to U.S. permanent residence for Turkish investors with the financial capacity to make a qualifying investment. The 2022 Reform and Integrity Act has strengthened investor protections while maintaining the program's core structure.

ULF New York advises Turkish investors on EB-5 investment selection, source of funds documentation, I-526/I-526E petition preparation, and the full EB-5 process through I-829 approval. Contact us to discuss whether EB-5 is the right path for your U.S. immigration goals.

This article is for informational purposes only and does not constitute legal or investment advice. EB-5 regulations and processing times are subject to change; consult qualified immigration counsel for current guidance.