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The EB-5 market is set for another milestone year in 2026, and the American Lending Center (ALC) is continuing our focus on Immigrant First Investing.
An Immigrant First approach requires looking beyond the horizon to anticipate how industry trends will impact the larger EB-5 market.
Avoiding unnecessary downstream risk also requires understanding how these trends factor into EB-5 project selection and management.
As ALC CEO, John Shen, explains, “An immigrant first approach to EB-5 involves thinking first and foremost of how what we do affects the immigrant investor experience. Immigrant First Investing remains the number one priority from deal sourcing all the way to capital exit.”
Here’s a list of the top 10 trends that will shape the EB-5 industry in 2026:
1) The EB-5 Reform and Integrity Act of 2022 (RIA) worked! The program brings foreign direct investment into the US and creates jobs for American workers.
Despite some negative headlines, the EB-5 program is alive and well.
The RIA has helped the EB-5 market to mature and provided much-needed protection to immigrant investors. Post-RIA implementation, the EB-5 program is on solid footing, with reduced risk and faster access to benefits for immigrant investors.
“Heightened compliance requirements and vetting have consolidated the industry so that the EB5 program is now characterized by experienced, high-quality regional centers investing in high-quality projects that create jobs for American workers in both rural areas and high-unemployment areas.
ALC is an industry leader with over 45 EB-5 investment projects through December 2025, which accounts for thousands of jobs created in the United States since 2022.”
-Scott Wagner, ALC Senior Vice President & Economist
ALC is authorized to fund EB-5 projects throughout the continental United States and Hawaii, and we meet frequently with community leaders seeking investment.
We continue to hear that the real EB-5 impact is felt by local communities, which benefit from increased jobs, new economic opportunities, and, in many cases, enhanced community amenities.
As we kick off 2026, our prospective deal pipeline remains robust, and we are seeing steady demand from both developers and financial institutions seeking to deploy EB-5 capital into job-creating projects nationwide.
2) Demand for investment in rural and high-unemployment area EB-5 projects will remain strong in early 2026.
The 2022 RIA set aside visas for projects located in qualifying rural and high-unemployment areas. This has led to speedier processing times for immigrant investors in these designated categories.
As we kick off 2026, visas are currently available in the rural and high-unemployment visa categories, including for investors from China and India.
Based on recent market demand and adjudication efficiency, we anticipate that investors will continue to seek out projects in the rural and high-unemployment categories.
“For EB-5 investors today, a rural project is the ultimate strategic advantage — unlocking priority processing and exclusive visa set-asides that can shave significant time off of the immigration timeline.
However, finding a high-quality rural project is exceptionally difficult; these markets are often overlooked by major developers and are notoriously hard to finance, making ‘investable’ deals scarce.
ALC solves this scarcity problem by leveraging over a decade of experience as a premier non-bank lender. We don’t just look for rural deals; we originate them through our own USDA lending pipeline, giving our investors exclusive access to financially sound, construction-ready projects that other regional centers simply cannot source.”
-Justin Blackhall, ALC Finance Counsel
3) The EB-5 program grandfathering deadline (September 30, 2026) will increase I-526E filings.
Under the RIA grandfathering provision, USCIS is required to continue processing petitions filed before September 30, 2026, and may not deny any petition based on the expiration of the EB-5 program.
This added protection is intended to provide certainty for immigrant investors and the EB-5 market, knowing that program participation is locked in even if the program sunsets in 2027.
Importantly, individuals must file before September 30, 2026, to take advantage of this key investor protection, meaning that we will likely see a spike in I-526E filings before the deadline.
Investors need to understand, however, that the grandfathering provision does not eliminate the need to submit a complete set of documents to USCIS to establish their eligibility. Skeletal filings submitted without underlying evidence may encounter significant delays and potentially even denials.
4) Employment-based immigration policy uncertainty will continue – Increasing demand for EB-5 visas.
The current Administration’s shifting policies have created significant uncertainty for many employment-based visa holders and applicants. This is particularly true for H-1Bs, due to the new $100,000 fee and regulatory changes to the lottery, which, in most cases, will prevent recent college graduates from being eligible.
Conversely, the EB-5 program has remained stable amidst the flurry of new immigration policies.
As longer-term immigration prospects become more uncertain in other visa categories, EB-5 may increasingly be viewed as a more predictable and reliable pathway to immigrate, thereby increasing demand.
5) EB-5 visa retrogression on the horizon.
Based on the pending investor petition queue (I-526Es) and the increased demand noted above, we will likely see changes to the Visa Bulletin within the set-aside visa categories (rural and high-unemployment) for investors from China and India in 2026.
It is unclear, however, when this may occur based on the limited data provided by USCIS and the Department of State.
Despite the limited data, feedback from potential investors indicates that this is a key factor in their consideration of EB-5 investment.
For regional centers, the impact of increased visa demand and possible visa retrogression may require diversification of projects and markets for new investment.
6) EB-5 – Gold Card comparisons will continue to grab headlines.
The US government recently launched, through an executive order, a new immigration program that aims to provide legal permanent residency to individuals who donate $1 million to the US Treasury.
Regardless of how the Gold Card program takes shape — many details are still being worked out, and we may see litigation challenging its legalit y— the EB-5 program remains a proven path to legal permanent residence in the US.
In addition, the EB-5 program requires an investment of capital that is returned upon successful project completion. In contrast, the Gold Card program requires a non-refundable donation of at least $1 million per person and $1 million for each family member.
From a purely economic standpoint, there is room for the EB-5 program to coexist with the gold card program, with both providing options for immigrants and benefiting the US.
7) EB-5 regional center compliance efforts will be more critical than ever before.
The federal agencies tasked with EB-5 program oversight, including the US Department of Homeland Security and the Securities and Exchange Commission, have made it clear that EB-5 market participants must play by the rules.
Regional Centers manage billions in capital and are subject to strict requirements under the RIA.
As competition increases and demand grows, it will be important for Regional Centers to maintain a firm grasp of their compliance policies and procedures to protect both investors and their firm’s reputational value.
“Compliance is about following all the applicable rules, regulations, and statutes enforced by various government agencies and regulatory bodies, but the key to a good compliance program is transparency.
Companies should be open and direct in their communications and presentations to regulators, customers, and partners alike. It’s important to maintain clear and accessible records and to share information with parties whenever needed and appropriate.”
– Andrew Diroll-Black, ALC Chief Compliance Officer and former EB-5 Leader at USCIS
8) “Rescue Projects” will save good-faith investors.
USCIS recently issued notices to certain EB-5 investors whose prior regional center was terminated, providing options to continue to maintain their eligibility. This can include working with a new regional center and investing in a new project.
This is a welcome step by the agency, based on the 2022 reform law, that allows good-faith investors to continue their immigration journey.
ALC has worked with investors whose prior regional center was terminated so that they can continue their immigration journey, and we have seen firsthand the challenges investors face in these situations.
We view providing investors with opportunities to invest in rescue projects as a key part of our immigrant first approach to EB-5.
9) USCIS Adjudications: Increased scrutiny of individual investors.
Immigration attorneys report an increase in agency scrutiny of the investor’s lawful source of funds. This will likely continue in 2026 as new USCIS policies take shape.
The quality of the evidence provided to document the source of invested EB-5 capital directly impacts an I-526E’s likelihood of success and the overall adjudication timeline.
In the context of EB-5 adjudications, it is best practice for investors to prepare early to submit their application and work closely with a trusted advisor to navigate the EB-5 journey ahead.
10) Reauthorization efforts will galvanize the EB-5 industry.
The current EB-5 regional center program will sunset in September 2027, absent Congressional reauthorization.
This means that key Industry stakeholders, including ALC, will work tirelessly in 2026 to ensure that Congressional leaders understand the value that EB-5 brings to communities across the United States.
The current legislation (RIA) was passed with bipartisan support, and there is clear evidence of economic gains in both Republican and Democratic districts.
Looking Ahead
There are many factors to consider when assessing the future of the EB-5 market.
Importantly, the program is working well; there is substantial demand from communities around the country for more investment, and EB-5 remains a strong pathway for qualifying investors to pursue their US immigration journey.
As part of our Immigrant First Investing strategy, ALC plans to keep a pulse on the EB-5 market trends shaping demand to ensure we offer the best-in-class service to our immigrant investors and partners.
Stay tuned for more updates as we kick off what will undoubtedly be an action-packed year in the world of EB-5.
Gary N. Merson – Executive Vice President
Gary N. Merson is the Executive Vice President of ALC, bringing more than 25 years of experience in U.S. immigration law, policy, and compliance. He most recently served as Chief of Staff at the Office of the Citizenship and Immigration Services Ombudsman within the U.S. Department of Homeland Security and previously contributed to bipartisan EB-5 reform efforts as Chief Counsel for the House Judiciary Committee’s immigration subcommittee. His leadership reflects deep expertise in EB-5 policy and stakeholder engagement.
Christopher Mason – Chief Communications Officer
Christopher A. Mason is the Chief Communications Officer at ALC, with more than a decade of experience across the public and private sectors. He previously served in senior roles at U.S. Citizenship and Immigration Services (USCIS), including as Chief Economist for the Immigrant Investor Program Office (EB-5), where he oversaw the review of billions of dollars in foreign investment projects and supported regulatory and program integrity initiatives. His background strengthens ALC’s global engagement and leadership in EB-5 communications.
About American Lending Center:
American Lending Center (ALC) is a private, non-bank lender committed to advancing US economic growth and job creation. Headquartered in Irvine, California, ALC operates 14 USCIS-designated regional centers spanning the continental United States and Hawaii. Since 2009, ALC has deployed more than $2.3 billion in financing, supporting thousands of businesses nationwide and contributing to the creation and retention of over 140,000 jobs. ALC is committed to Immigrant First Investing.
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