From Interest to Investment: The Essential Role of Foreign EB-5 Advisors

EB-5 investors have two main pathways to receive a U.S. Green Card—adjustment of status (AOS) from inside the country or consular processing from abroad. While adjustment of status is available only to those already living in the U.S. under another lawful visa, consular processing is the route taken by most EB-5 investors.

Although recent years have seen a small uptick in adjustment of status numbers, particularly among Indian investors already residing in the U.S., the historical and ongoing dominance of consular processing remains clear. And this has major implications for how EB-5 projects are marketed, which partnerships matter most, and what kind of support investors need.

Let’s break down what the Department of State data shows—and why it reinforces the critical importance of working with experienced EB-5 agents in foreign markets.

AOS vs. Consular Processing: A Historical Breakdown

For well over a decade, consular processing has been the default route for EB-5 visa issuance. From fiscal year (FY) 2008 through FY2017, more than 80% of all EB-5 Green Cards were issued through consular processing.

Indian investors—many already in the U.S. on H-1B or student visas—have historically used AOS more often, but they make up only a small portion of the EB-5 market during the 2008–2017 period. As a result, the overall numbers have heavily favored consular processing.

Pandemic-Era Disruptions Led to a Temporary Shift

From FY2020 through FY2022, the usual trend shifted due to specific, exceptional circumstances. The COVID-19 pandemic caused widespread closures and delays at U.S. consulates worldwide, prompting USCIS to ramp up its efforts to process employment-based AOS cases, including EB-5. As a result—and later bolstered by the implementation of the 2022 Reform and Integrity Act—adjustment of status approvals rose sharply during this period.

Still, these figures were mostly the result of an exceptional global crisis—not a structural shift in investor behavior. Once consulates resumed operations, the historical pattern began to reassert itself.

By FY2023, the ratio had shifted again. Approximately 77% of EB-5 Green Cards were issued via consular processing, with AOS falling to 23%. In FY2024, preliminary data indicates an even stronger shift toward consular processing. Based on available estimates, approximately 85% of EB-5 visas issued during that fiscal year came through the consular route.

While we don’t yet have complete AOS data for FY2025, early numbers suggest that consular processing continues to dominate—especially for unreserved visa categories.

AOS Has a Significant Role in Reserved Categories

One area where AOS may be playing a more prominent role is within the reserved EB-5 visa categories. These categories were introduced under the 2022 EB-5 Reform and Integrity Act and offer special incentives, including priority processing for rural TEA projects and set-aside visa allocations.

Meanwhile, consular issuance of reserved visas has remained modest. In FY2024, only about 7% of rural and 6% of high-unemployment set-aside visas were issued through consulates, while the same fiscal year saw a record 12,055 unreserved visas issued through consular processing. This indicates a higher AOS share within the reserved categories—particularly among investors from India who are already in the U.S. and are filing both Form I-526E and Form I-485 concurrently.

Even so, the overall EB-5 visa issuance picture is still firmly weighted toward consular processing.

Most EB-5 Investors File From Abroad, Making Foreign Agents Key to Success

While AOS usage has gained some ground in recent years, it is still a minority path. For most EB-5 investors around the world, consular processing is not only the default but the only viable option.

That’s why international EB-5 agents, immigration advisors, and overseas partners play such a key role today.

Unlike U.S.-based broker-dealers who focus largely on domestic marketing and compliance, foreign agents have direct relationships with investors who are just beginning to explore the EB-5 program. They help bridge the gap between investor interest and a structured, fully compliant filing. Foreign agents and EB-5 immigration advisors serve as the first point of contact, educating clients, guiding them through source of funds documentation, and providing culturally relevant support throughout the process.

Especially in high-demand markets like China, India, and Bangladesh, this local presence is not just helpful—it is essential.

Work With the Right Partners for Long-Term EB-5 Success

Even as USCIS continues to process more AOS applications and as concurrent filing becomes more attractive to investors already in the U.S., it is safe to assume that consular processing will remain the backbone of the EB-5 program in the upcoming years. This is why it is so important for prospective investors to work with a team that understands how investors think, where they’re coming from, and what tools are needed to guide them through a successful immigration journey.

At Arcasia Advisors, we specialize in building these connections. We support investors by identifying top-tier EB-5 projects, fostering strong overseas partnerships, and providing strategic insight at every stage of the process.

Contact us today to learn how our personalized guidance can help you make the right EB-5 investment and achieve your immigration goals.