Why Smart Investors Are Choosing Projects Without I-956F Approval
The surprising shift in EB-5 investor psychology, and why “pending” might just be the new “premium”
In 2025, a quiet but fascinating trend is emerging across the EB-5 industry. A growing number of sophisticated investors, especially from the Middle East, South Asia, and Africa are intentionally choosing projects that have not yet received Form I-956F approval from USCIS.
At first, this seems backward. Why would anyone prefer an unapproved project over one that’s already cleared by USCIS? But as investor strategies mature, many are realizing that a project awaiting I-956F approval offers something far more valuable than instant paperwork, time, flexibility, and leverage.
What Is I-956F, and Why Does It Matter?
Form I-956F is the USCIS filing that a regional center must submit for each EB-5 project. Once approved, the project becomes eligible for investors to file their I-526E petitions.
While it’s an essential step for compliance, I-956F approval doesn’t make a project “better” it only means USCIS has reviewed its documentation. The approval doesn’t guarantee job creation, returns, or construction success. And that’s where smart investors are reading between the lines.
Why Some Investors Prefer the Waiting Stage
1. More Time to Prepare and Invest Strategically
Projects that haven’t yet received I-956F approval provide investors with a natural grace period before they can file their own petitions. This window often several months long gives investors time to complete source-of-funds documentation, liquidate assets or transfer funds abroad, and coordinate with family or advisors. Instead of rushing a major decision, investors use this breathing room to plan wisely.
2. Early Access Means Better Terms
Before a project is officially approved, developers and regional centers tend to be more flexible. Investors stepping in early often secure better admin fees terms, extended payment plans, or preferred unit allocations. Once I-956F approval arrives, those privileges vanish replaced by higher demand and stricter terms. Early investors, therefore, buy both time and influence.
3. Insider Advantage Before the Crowd Arrives
By the time most investors hear a project has been approved, the insiders have already reserved their places. Those who join during the pending stage enjoy direct communication with the project’s principals and deeper visibility into construction and financing progress a transparency advantage that latecomers rarely get.
4. Less Competition, Faster Queue Position
High-demand rural and TEA projects often sell out within weeks of I-956F approval. Investors who reserve early lock their spots quietly and once approval comes through, their I-526E petitions are filed first, securing earlier priority in USCIS processing and visa allocation.
5. Alignment With Global Investor Timelines
For families based in the UAE, Pakistan, Bangladesh, Kenya, and similar markets, capital movement and documentation take time. Pending projects let them participate without pressure, ensuring they don’t lose a good opportunity just because they need an extra month or two to finalize transfers.
6. Fresh Projects Built Under the New RIA Rules
Projects currently under I-956F review are typically newer designed post-RIA with stronger compliance, audited job models, and modern risk management structures. Investors are beginning to see pending as a mark of recency and innovation, not uncertainty.
The Arcasia Perspective
At ArcAsia Advisors, we believe today’s smartest investors are those who understand the rhythm of EB-5 timing. An I-956F-pending project is not a risk it’s a strategic runway. It gives investors time to prepare, negotiate, and position themselves for early entry once USCIS approval arrives.
As the market continues to mature, “pending” is no longer a red flag it’s a sign that you’re ahead of the curve.
Key Takeaway:
I-956F approval brings confidence but waiting for it brings opportunity. Those who step in early, with proper due diligence and trusted advisors, often get the best of both worlds: more time, better terms, and earlier filing priority.
