EB-5 Immigrant Investor Program Ruling

What the New Court Decision Means for Investors

Introduction

The landscape of the EB-5 Immigrant Investor Program has undergone a seismic shift following a landmark court’s decision. For foreign investors and alien entrepreneurs seeking lawful permanent residence in the United States, understanding these changes is no longer optional—it is a prerequisite for success.

The EB 5 visa program, originally Congress created to stimulate economic growth, allows a foreign national to obtain a green card by making a qualifying investment that results in job creation for at least 10 full time jobs. (U.S. Citizenship and Immigration Services, n.d.)

As of early 2026, the investment thresholds remain at $1,050,000 for standard projects and $800,000 for those in a Targeted Employment Area (TEA) or high unemployment zone.  (Congressional Research Service, 2023)

However, the recent preliminary injunction and subsequent final rule adjustments have fundamentally altered EB-5 visa requirements and permanent residency timelines.

What the New EB-5 Visa Ruling Changes Immediately

On November 12, 2025, the District Court for the Northern District of Colorado issued a decisive ruling in Moody v. Noem. The court found that the Department of Homeland Security (DHS) and USCIS (U.S. Citizenship and Immigration Services) violated the Administrative Procedure Act and the EB-5 Reform and Integrity Act of 2022 (RIA). This court’s decision effectively halted unlawful fee increases that lacked a statutorily authorization related fee study.

Restored Investment Thresholds and Fees

Following the ruling, USCIS was forced to reverse fee hikes that took effect in the previous fiscal year.

• Form I-526E fees for immigrant investors dropped from $11,160 back to $3,675. (In addition, pursuant to the RIA statute, a $1,000 EB-5 Integrity Fund fee is collected from each investor.)
• Form I-829 (Removal of Conditions) fees returned to $3,750, easing the path for those seeking to remove the conditional permanent residence status.
• The standard minimum investment and TEA levels remain stable, but the cost of entry regarding administrative filings has significantly decreased for the current fiscal year.

 Heightened Compliance Standards

Immigration law now demands stricter adherence to the “approvable when filed” status. Immigrant entrepreneurs must ensure their capital investment is fully committed or “at risk” at the time of the immigrant petition. [8 CFR § 204.6(j)(2)]

For example, in the Matter of Ho (1998) decision, the court held that merely keeping the investment funds in a bank account is not sufficient; the capital must be placed at risk by being deployed into the operational activities of the business, carrying both a genuine risk of loss and an opportunity for gain.

National security concerns have led USCIS to increase scrutiny on the source of funds, requiring a clear trail for every alien investor.