US residency by investment: an overview of EB-5, E-2, EB-1 and EB-2 NIW for Vietnamese applicants

US residency by investment: an overview of EB-5, E-2, EB-1 and EB-2 NIW for Vietnamese applicants

US residency by investment is a top choice for many Vietnamese investors who want to build a new life in the world’s largest economy. With a Vietnamese community of 2.3 million people, a world-leading higher education system and a free business environment, the country continues to attract capital from Vietnamese HNWIs through many different visa and green card routes.

According to US Citizenship and Immigration Services (USCIS), the visa system is divided into two main groups: non-immigrant visas (temporary stays) and immigrant visas (permanent residence leading to a green card). The annual quotas set by the INA are 140,000 employment-based visas, 226,000 family-sponsored visas and about 52,000 Diversity Lottery visas for fiscal year 2026.

This article covers all the US residency by investment routes suited to Vietnamese investors — from the EB-5 and E-2 investment programmes, the EB-1/EB-2 NIW/EB-3 skilled categories and the L-1/O-1 transfer categories, to the K-1, CR-1 and IR-1 family categories and the F-1 student category. Each category has different conditions, costs and pathways that need careful assessment before choosing.

Important note: US visa policy can change between administrations. Figures and rules in this article are updated according to USCIS, the State Department and the 2025–2026 Visa Bulletin. Investors should consult an immigration lawyer to assess their specific case and check for policy updates before applying.

Overview of the US immigration visa system

Understanding the visa structure is the first step before choosing the US residency by investment pathway that suits your personal circumstances and family goals.

The two main visa groups

The US visa system is divided into 2 groups: non-immigrant visas allowing temporary entry for a specific purpose (B tourism, F study, H/L/O work, E investment), and immigrant visas leading to a permanent resident card (green card), with 5 employment-based branches (EB-1 to EB-5), 4 family-based branches (F1–F4 and IR), the DV Lottery and special categories.

For Vietnamese investors, the categories of most interest are usually EB-5 (investment), E-2 (fixed-term investor residence), EB-1A (individuals of extraordinary ability), EB-2 NIW (national interest), L-1 (intra-company transfer) and the K-1/CR-1/IR-1 family categories. Each category has different requirements for capital, education, experience and family relationships.

The regulators

Four federal agencies jointly administer the visa system:US Citizenship and Immigration Services (USCIS)under the Department of Homeland Security is responsible for adjudicating petitions (I-130, I-140, I-526E) and adjustment of status applications. The US Department of State (DOS), through its Embassies and Consulates General, handles visa issuance abroad. US Customs and Border Protection (CBP) controls entry at ports of entry. US Immigration and Customs Enforcement (ICE) enforces immigration law within the country.

For consular processing cases in Vietnam, theNational Visa Center (NVC)in New Hampshire receives files from USCIS after the I-130/I-140 petition is approved, collects supporting documents and schedulesinterviews at the US Consulate General in Ho Chi Minh Cityor the Embassy in Hanoi.

Annual visa quotas

According to the January 2026 Visa Bulletin of theUS Department of State, fiscal year 2026 (10/2025 – 9/2026) allocates 226,000 visas to family-sponsored categories and at least 140,000 visas to employment-based categories. The per-country limit is fixed at 7% of the total quota, equivalent to 25,620 visas per country. Vietnam usually does not exceed this limit, so it does not face heavy backlogs in the EB categories like China and India.

The 2026 Diversity Visa Lottery issues about 52,000 visas (down from the original 55,000 because of the NACARA adjustment). Vietnam remains on the list of eligible countries because total Vietnamese immigration over the last 5 years has not exceeded 50,000.

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The EB-5 investment category

EB-5 is the most popular US residency by investment programme among Vietnamese investors with capital from $800,000 USD, allowing the whole family (spouse andchildren under 21) to receive green cards.

What EB-5 is and its history

EB-5 (Employment-Based Fifth Preference) was created by the US Congress in 1990 to attract foreign investment andcreate jobs for Americans. The programme was comprehensively reformed by the EB-5 Reform and Integrity Act (RIA), signed on 15/03/2022. The RIA expanded oversight, established set-aside visas and introduced automatic inflation adjustments to the investment amounts.

Two investment levels

Under the 2022 RIA, two investment levels apply for 2025–2026:

  • $1,050,000 USD— the standard level for projects outside aTargeted Employment Area(TEA)
  • $800,000 USD— the reduced level for projects in a TEA: a rural area, a high unemployment area, or a government-approved infrastructure project

These two levels remain in effect until 31/12/2026 under a grandfather clause. From 01/01/2027, USCIS will adjust them upwards in line with the Consumer Price Index (CPI), with the TEA level expected to rise to $900,000 – $937,000 USD and the standard level to $1,176,000 – $1,239,000 USD. Investors who want to lock in the current levels should file Form I-526E before the 30/09/2026 deadline.

Four core requirements

EB-5 sets 4 mandatory requirements that investors must meet:

  1. Lawful capital— proving the source of the investment funds throughSOF (Source of Funds) and POF (Proof of Funds) documentation
  2. Creating 10 jobsfull-time for US citizens or permanent residents within 2 years
  3. Investing in a qualifying enterprise— the project must be approved by USCIS through Form I-956F (if through a Regional Center), or the investment must go directly into a New Commercial Enterprise
  4. Capital genuinely at risk(at-risk capital) — there must be no guarantee of repayment from the project owner

Two investment routes

Investors have 2 routes:Direct Investment(direct investment) requires setting up your own business and managing day-to-day operations, suited to people with management experience.Regional Center(Regional Center investment) is the passive route, in which the investor puts capital into a USCIS-approved project managed by a professional team. According to IIUSA statistics, 95% of Vietnamese investors chooseRegional Centerbecause of its convenience and lower operational risk.

Timeline

The full EB-5 journey from filing to citizenship takes 7–11 years:

  • Years 0–2: file Form I-526E and wait for approval (6–30 months depending on project type; rural projects receive priority processing in 6–12 months)
  • Years 2–3: consular interview in Ho Chi Minh City or adjustment of status if already in the United States; receive a 2-year conditional green card (CR-1)
  • Years 4–6: file Form I-829 to remove conditions 21–24 months after receiving the CR-1 card; receive a 10-year unconditional green card
  • Years 9–11: eligible for naturalisation after 5 years of holding an unconditional green card

Investors should carefully assess thecriteria for choosing a safe EB-5 projectbefore committing capital, including reviewing the Regional Center’s track record, the project’s financial structure, the job creation plan and the exit strategy. Prosperous Living Investment supports Vietnamese investors through project assessment and the application pathway via itsUS residency by investment services.

Investors must comply with the rules onresidence and travel for the EB-5 investment category.

The E-2 investment category

The E-2 Treaty Investor visa is an option for moderate capital below $400,000 USD, but Vietnamese applicants need to go through a second citizenship to access it.

What E-2 is and the treaty requirement

E-2 is a non-immigrant visa for citizens of countries that have signed bilateral trade and investment treaties with the United States. The investor comes to the United States to run a business in which they have invested substantial capital. The visa is valid for 2–5 years depending on nationality and can be renewed indefinitely as long as the business keeps operating.

Vietnam is not on the treaty list

According to the US Department of State, Vietnam has no E-2 treaty with the United States. Vietnamese applicants must acquire a second citizenship from a treaty country to be eligible to apply for E-2. The most common routes includeGrenada citizenship by investment(a $235,000 USD donation or $270,000 USD in real estate), Turkey (real estate of $400,000 USD) and some other CBI programmes.

The “Grenada CBI + E-2” strategy is chosen by many Vietnamese investors with $350,000 – $500,000 USD of capital. The total cost is about $335,000 – $435,000 USD ($235,000 USD Grenada donation + $100,000 – $200,000 USD of E-2 business capital), significantly cheaper than the $800,000 USD for EB-5 but at the cost of not having a green card.

E-2 capital and business requirements

There is no fixed minimum investment set by law. In practice, however, a “substantial” amount is usually from $100,000 USD for a service business, $200,000 – $500,000 USD for a manufacturing business, and over $500,000 USD for a large business (restaurant, hotel). The capital must already be invested or irrevocably committed. The business must be a real and operating enterprise, not a passive investment in shares or rental property.

Important limitations of E-2

E-2 has 3 major limitations compared with EB-5. First, it does not lead directly to a green card; the investor must renew the visa periodically and live in non-immigrant status. Second, children lose their status at 21 and must switch to another category (an F-1 student or work visa). Third, the business must operate continuously; if it stops trading, the visa is revoked.

Detailed article onComparing EB-5 and the US E-2 visa.

The EB-1 skilled category

EB-1 is the highest-priority employment-based category, requires no PERM labour certification and usually has the fastest processing time.

The three types of EB-1

According to USCIS, EB-1 is divided into 3 groups:

  • EB-1A — Extraordinary Ability: individuals with extraordinary ability in the sciences, arts, education, business or athletics. They must show they are in the top 0.1% of their field through international awards, publications and ground-breaking contributions. No employer sponsor is required
  • EB-1B — Outstanding Professor or Researcher: outstanding professors and researchers with 3 years of teaching/research experience and an offer of permanent employment (tenure track) in the United States
  • EB-1C — Multinational Manager or Executive: senior managers who have worked at an overseas branch of a multinational company for at least 1 of the last 3 years and are transferring to the US branch in a managerial/executive role

Advantages of EB-1

EB-1 has 3 major advantages: first, no PERM Labor Certification is needed — a step that usually takes 6–12 months for EB-2/EB-3. Second, it has the fastest processing time of the EB categories, usually 12–18 months. Third, there is currently nobacklogfor people born in Vietnam (the priority date is current). Premium Processing can reduce the I-140 review time to 15 business days.

Who EB-1 suits

EB-1A suits successful entrepreneurs with international business awards, national/international athletes, award-winning artists and scientists with reputable publications. EB-1B suits university professors and research institute staff. EB-1C is an ideal route for Vietnamese entrepreneurs who own large companies and can open a branch in the United States and transfer themselves there as a manager after 1 year.

The EB-2 NIW skilled category

EB-2 NIW (National Interest Waiver) is one of the routes chosen by many highly educated Vietnamese professionals because no employer sponsor is needed.

What EB-2 NIW is

The regular EB-2 requires a US employer to sponsor the applicant through PERM Labor Certification — proving there is no qualified US worker for the position. The National Interest Waiver waives both requirements if the applicant can show that their work brings significant national benefit to the United States. It is a self-petition route: applicants sponsor themselves.

The three Matter of Dhanasar criteria

Under the 2016 Matter of Dhanasar decision of the Administrative Appeals Office (AAO), applicants must demonstrate all 3 of the following:

  1. Substantial merit and national importance— the work/project has substantial merit and national importance
  2. Well-positioned to advance the proposed endeavor— the applicant is well positioned to advance the work successfully (through education, experience, past achievements and a concrete plan)
  3. On balance, beneficial to the U.S.— on balance, waiving the job offer/PERM requirement benefits the United States more than following the standard process

Who EB-2 NIW suits

EB-2 NIW strongly appeals to: professionals with master’s/doctoral degrees and scientific publications (Google Scholar citations, peer-reviewed publications), tech startup founders with a clear business plan that benefits the US economy, healthcare professionals working in areas with staff shortages, and STEM workers in national priority fields (semiconductors, AI, renewable energy, defence).

Comparing EB-1A and EB-2 NIW

EB-1A sets a higher bar (top 0.1% of the field, “sustained acclaim”) but is processed quickly with no backlog. EB-2 NIW is easier to prove (only “substantial merit” is needed) but has a long backlog for people born in Vietnam; currently the priority date wait is 2–3 years according to the Visa Bulletin. Many Vietnamese applicants file both petitions in parallel to maximise their chances.

The EB-3 skilled category and PERM

EB-3 is the lowest of the 3 skilled categories, for skilled workers but with lower requirements than EB-1 and EB-2.

The three types of EB-3

EB-3 is divided into 3 sub-categories:

  • Skilled Workers— positions requiring at least 2 years of experience or training
  • Professionals— positions requiring a bachelor’s degree or equivalent
  • Other Workers (EW)— unskilled workers, with an extremely long backlog of 10+ years for Vietnam

The PERM process

Apart from EW, all EB-3 categories requirePERM Labor Certificationfrom the US Department of Labor (DOL). The process has 4 steps: the US employer tests the labour market (advertising the position and interviewing US applicants), files Form ETA-9089 through the Foreign Labor Application Gateway (FLAG), waits 6–12 months for DOL approval, and then files Form I-140 with USCIS to sponsor the foreign worker.

Timing and who it suits

The total EB-3 timeline for Vietnamese applicants is 3–7 years, including: PERM 6–12 months, I-140 6–12 months, waiting 1–4 years for the priority date to become current depending on the labour market, and consular interview or adjustment 6–12 months. EB-3 suits nurses with NCLEX-RN certification (Schedule A positions exempt from PERM), software engineers with a specific job offer, professional chefs at major restaurants and other skilled positions with an employer willing to sponsor.

For investors with moderate capital but a professional background, combiningUS skilled immigrationwith the ability to make their own way in the community may be a more feasible route than investment categories requiring large capital.

The L-1 and O-1 transfer categories

L-1 and O-1 are 2 popular non-immigrant categories for entrepreneurs and professionals, with a strategy of switching to a green card later.

L-1A and L-1B

L-1 is the intracompany transferee visa, requiring the employee to have worked for at least 1 of the last 3 years at an overseas branch of a multinational company. Two classifications:

  • L-1A (Executive/Manager)— senior managers, maximum stay of 7 years, can switch to EB-1C for a green card
  • L-1B (Specialized Knowledge)— specialists with special knowledge of the company’s products/processes, maximum stay of 5 years

O-1 Extraordinary Ability

O-1 is a non-immigrant visa for individuals of extraordinary ability (similar to EB-1A but temporary). O-1A covers science, education, business and athletics; O-1B covers the arts and the entertainment industry (film, television). It is valid for 3 years and can be extended indefinitely as long as there are projects/events to work on. O-1 has no quota and therefore no backlog.

The “L-1 → EB-1C” strategy

For Vietnamese business owners with established companies, the “L-1 → EB-1C” strategy is very popular: set up a branch in the United States, transfer yourself to the US on an L-1A, run the branch for 1 year to meet the EB-1C “doing business” requirement, then file an EB-1C petition for a green card. Total costs are usually $300,000 – $500,000 USD to set up and initially operate the branch, potentially lower than EB-5 if the entrepreneur can manage the business’s cash flow.

The K-1, CR-1 and IR-1 family categories

Family-sponsored categories account for most US immigrant visas each year, with 226,000 visas allocated for fiscal year 2026.

The K-1 Fiancé visa

Visa K-1is for the fiancé(e)s of US citizens (not permanent residents). Main requirements: the couple has met in person within the last 2 years and is genuinely engaged, intending to marry within 90 days of entry. After the wedding, the sponsored person files Form I-485 to adjust to a conditional green card. K-1 processing currently takes 10–15 months.

CR-1 and IR-1 visas

CR-1 and IR-1 visasare for the spouses of US citizens. The main differences:

  • CR-1 (Conditional Resident): married for less than 2 years at the time of filing; receives a 2-year conditional green card. Form I-751 must be filed after 21 months to remove the conditions
  • IR-1 (Immediate Relative): married for more than 2 years when the visa is issued; receives a 10-year unconditional green card from the start

This is the fastest route forsponsoring a spouse to the United Statesamong the family-based categories, with no quota limit (immediate relatives) and therefore no backlog. Current processing time is 12–18 months.

F preference categories (extended family)

The four F preference categories for relatives other than spouses/children under 21:

  • F1: unmarried adult children of US citizens (backlog of ~7 years for Vietnam)
  • F2A: spouses and children under 21 of permanent residents (backlog of ~2 years)
  • F2B: unmarried children over 21 of permanent residents (backlog of ~7 years)
  • F3: married children of US citizens (backlog of ~14 years)
  • F4: siblings of US citizens (backlog of ~17 years — extremely long)

The general family-based process

All family-based cases start withForm I-130, Petition for Alien Relative. Once USCIS approves the I-130, the case moves to the NVC for pre-processing (DS-260, supporting documents, interview fees). Finally, the sponsored person is interviewed at the Consulate General in Ho Chi Minh City and receives a US immigrant visa.

The F-1 student category and the OPT-H-1B pathway

F-1 is a non-immigrant visa for international students; it does not lead directly to residence but is a gateway to a long-term green card pathway.

The F-1 student visa

F-1 allows full-time study at educational institutions certified by the US government’s SEVP (Student and Exchange Visitor Program). Main requirements: admission to a school, proof of funds to cover the full cost of the first year, and an intention to return home after completing the studies. The visa lasts for the length of the programme (usually 4 years for a bachelor’s, 2 years for a master’s, 4–6 years for a doctorate).

OPT and the STEM Extension

After graduating, F-1 students can apply for Optional Practical Training (OPT) to work for 12 months in a field related to their studies. STEM (Science, Technology, Engineering, Mathematics) students get an additional 24-month extension (36 months of OPT in total). During OPT, the worker can look for a US employer willing to sponsor a switch to H-1B.

H-1B Specialty Occupation

H-1B is a non-immigrant visa for specialty occupations requiring at least a bachelor’s degree. The annual quota is 85,000 visas (a 65,000 regular cap + a 20,000 master’s cap for holders of US master’s degrees or higher). Because demand exceeds supply, USCIS holds a lottery at the start of each March for the fiscal year beginning on 1 October. The 2025 selection rate was about 18–25% depending on the group. The H-1B visa is valid for 3 years and can be extended once to 6 years. After that, the holder must change category or leave the United States.

The overall F-1 → H-1B → EB-2/EB-3 pathway

The complete pathway: F-1 (4 years for a bachelor’s or 6 years for a master’s + doctorate) → OPT 1–3 years → H-1B 6 years → during the H-1B period, the employer files PERM + I-140 for EB-2 or EB-3 → adjustment of status via I-485 → green card. Total time: 8–15 years. This pathway suits families with children aged 17–20 who are ready to invest $50,000 – $80,000 USD a year in tuition for 4 years of university and who accept the risk of the H-1B lottery.

Other categories: the DV Lottery and Special Immigrants

Besides the main categories, some other routes may suit a small group of Vietnamese applicants.

Diversity Visa Lottery

The Diversity Immigrant Visa Program(Diversity Visa Lottery, DV) issues about 52,000 immigrant visas each fiscal year, allocated to people born in countries with low rates of immigration to the United States over the last 5 years. Vietnam is eligible. Registration is free through the State Department’s official website between October and November each year. The selection rate is low (about 1% of registrants), but it is worth entering because it is completely free.

Requirements to receive a DV visa if selected: a high school diploma (12 years), or 2 years of experience in an occupation requiring at least 2 years of training under the Department of Labor’s O*NET classification. Selectees who do not meet these conditions will not be issued a visa.

Special Immigrant (Form I-360)

Form I-360is for special groups: widow(er)s of US citizens, religious workers (ministers, monks, religious teachers), former employees of the US government abroad, and Amerasian children in need of protection. Each group has its own detailed requirements. The quotas are small and unsuitable for most Vietnamese applicants, but they are worth considering in special cases.

Comparing the categories for Vietnamese investors

The table below summarises the main US residency by investment categories suited to Vietnamese investors, by capital, timing, success rate and target applicant.

Category Capital (USD) Time to green card Success rate Suits
EB-5 TEA 800,000 4–6 years Cao (97% I-526E) HNWIs with assets from 1.5 million USD
EB-5 non-TEA 1,050,000 3–5 years High HNWIs with assets from 2 million USD
E-2 qua Grenada 335,000+ No green card High Moderate capital, a real operating business
EB-1A ~20,000 in legal fees 12–18 months Difficult (requires top 0.1%) Internationally recognised talent
EB-1C 300,000-500,000 2–3 years High if eligible Owners of large businesses
EB-2 NIW ~20,000 in legal fees 2–4 years Moderate Accomplished professionals
EB-3 (PERM) ~15,000 in fees 3–7 years Moderate Those with a US job offer
K-1/CR-1/IR-1 2,000-5,000 10–18 months High Those with a US spouse/fiancé(e)
F-1 → H-1B → EB 200,000–500,000 in tuition 8–15 years Depends on the lottery Young students

Note: the costs above exclude legal service fees, translation, consular legalisation and initial settlement costs. Success rates depend heavily on the quality of the application and legal advice.

The path to a green card and citizenship

Every US residency by investment category ultimately leads to a green card (permanent resident card) and US citizenship. Understanding the pathway helps with long-term family planning.

Detailed article onThe EB-5 path to US citizenship: 5 years of residence and the N-400 process.

Two types of green card

The US permanent resident card(green card) comes in 2 types by validity:

  • Conditional Permanent Resident (CR)— a 2-year conditional green card, issued initially for EB-5 and for spouses married less than 2 years. Within the 90 days before it expires, a petition to remove conditions must be filed (I-829 for EB-5, I-751 for family cases)
  • Lawful Permanent Resident (LPR)— a 10-year unconditional green card, renewable indefinitely

Maintaining green card status

Permanent residents must maintain actual residence in the United States.US permanent resident statusmay be lost after an absence of more than 180 consecutive days (USCIS may question the intention to reside), and an absence of more than 365 consecutive days without a Re-entry Permit (Form I-131) is treated as voluntary abandonment of the card. Filing for a Re-entry Permit before leaving the United States allows absences of up to 2 years.

The naturalisation process

After 5 years of holding an unconditional green card (3 years if married to a US citizen), a foreign national is eligible to file Form N-400 forUS naturalisation. Requirements: physical presence of at least 30 months within the last 5 years, good moral character (no serious criminal record), passing the citizenship test (civics + basic English reading/writing/speaking) and taking the oath of allegiance to the US Constitution.

The rights of US citizens

The rights of US citizensare significant compared with a green card:

  • A US passport— visa-free or visa-on-arrival access to 180+ countries and territories
  • The right to vote and stand for office at federal, state and local levels
  • Sponsorship of relatives without quota limits for spouses/children/parents (immediate relatives)
  • Protection from deportation, and no loss of citizenship when living outside the United States
  • Consular assistance when in difficulty abroad
  • Opportunities to work in national security and federal government positions

Actual costs

Besides the main investment, investors need to budget for significant ancillary costs during the US residency by investment application process.

USCIS and DOS government fees

USCIS fees vary by form (updated November 2025):

  • Form I-130 (family sponsorship): $675 USD
  • Form I-140 (employment-based): $715 USD
  • Form I-526E (EB-5 Regional Center): $4,675 USD (including a $3,675 USD base fee + a $1,000 USD Integrity Fund fee)
  • Form I-829 (removing EB-5 conditions): $3,750 USD
  • Form I-485 (adjustment of status): $1,440 USD
  • DS-260 consular fee: $325 USD per person
  • Biometrics fee: $85 USD per person
  • Form I-907 Premium Processing(expedited processing): $2,805 USD for I-140, which can cut review time to 15 business days

Immigration lawyer fees

US immigration lawyer fees vary with the complexity of the case:

  • EB-1A/EB-2 NIW (self-petition): $8,000 – $15,000 USD
  • EB-5 Regional Center (full package): $25,000 – $50,000 USD
  • L-1/O-1: $5.000 – $12.000 USD
  • K-1/CR-1/IR-1 family sponsorship: $3,000 – $7,000 USD
  • PERM + I-140 (EB-2/EB-3): $12.000 – $20.000 USD

Other documentation costs

Ancillary costs investors often overlook when budgeting:

  • Certified English translation: $30 – $50 USD per page, $500 – $2,000 USD in total for an average application
  • Apostilleor consular legalisation: $50 – $100 USD per document
  • US immigration medical examby an approved panel physician in Ho Chi Minh City or Hanoi: $200 – $400 USD per person
  • Criminal Record Certificate No. 2from the Department of Justice: 200,000 VND per request
  • Flights, accommodation on arrival and essential purchases: $10,000 – $30,000 USD for a household of 4

Estimated total cost

Total all-in cost for a household of 4 (spouses + 2 children):

  • EB-5 TEA: ~$870,000 USD (800,000 investment + 70,000 in ancillary fees)
  • E-2 via Grenada: ~$370,000 USD (235,000 Grenada + 100,000 business capital + 35,000 in ancillary fees)
  • EB-1C: ~$520,000 USD (400,000–500,000 to set up the branch + 20,000 in ancillary fees)
  • EB-2 NIW: ~$25,000 USD (lawyer + government fees)
  • K-1: ~$5.000 USD

USCIS documents and forms

Each US residency by investment category has its own set of USCIS forms. Understanding the main forms helps investors track progress and avoid missing documents.

Basic forms

Accompanying you on your journey in residency investment

The Prosperous Living Investment team advises on pathways, assesses profiles and manages investments transparently for every residency, citizenship and international property objective.

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