7 Questions to Ask Before Signing an EB-5 Subscription Agreement

The subscription agreement is the moment EB-5 gets real. It's the document that commits your $800,000 and ties your green card to a specific project. Sign it without asking the right questions, and you could be locking yourself into a deal that jeopardizes both your money and your immigration outcome.

So before you put pen to paper, run through these seven questions. They're the ones that actually protect you, and they cut straight to what matters most.

The Document That Locks You In

First, understand what you're signing. The subscription agreement is the binding contract between you and the EB-5 enterprise. It sets out the terms of your investment, your rights, the project structure, and what you're committing to.

Once signed, backing out cleanly can be difficult, so this is the point to slow down and get answers, not after. Think of these seven questions as your final checkpoint before commitment. If a project can't give you clear, satisfying answers to all of them, that's a signal to pause. A strong project and a reputable regional center will welcome these questions, not dodge them. Let's go through them.

Question 1: Is the I-956F Approved?

Start here, because it affects everything. Ask directly: is the project's I-956F approved, pending, or not yet filed?

An approved I-956F means USCIS has already reviewed and signed off on the project's business plan, job-creation model, and offering documents. Under current rules, your I-526E won't even be assigned for review until the I-956F is approved, so this directly determines how fast your petition moves. An approved I-956F means faster processing and a pre-vetted project. Pending or unfiled means more waiting and more uncertainty. This is one of the most important questions you can ask, and the answer should heavily influence your decision.

Question 2: How and When Do I Get My Capital Back?

Get specific on repayment. Ask about the expected investment term, the project's exit strategy (how exactly do they plan to return your capital, refinancing, sale, operations?), and the sustainment period requirements.

Remember, no legitimate project can guarantee repayment, that would violate the at-risk rule and jeopardize your petition. But a strong project will have a clear, credible plan for how and when capital is returned. Vague or evasive answers here are a warning sign. You want to understand the realistic timeline and mechanism for getting your $800,000 back, since that's central to whether the investment makes financial sense. Push for clarity on the repayment structure before you sign.

Question 3: Is the Job Creation Already Buffered?

Your permanent green card depends on the project creating your required 10 jobs, so probe this carefully. Ask: how many jobs does the project project to create, and how much buffer is there above what's required for all investors?

A well-structured project creates more jobs than the minimum needed, giving you a cushion if some projections fall short. Even better, ask whether the project has already created jobs. A project that has already generated the required jobs, or is well on its way, dramatically reduces your immigration risk. This question gets at the single biggest immigration risk in EB-5, and the answer tells you how safe your path to conditions removal really is.

Question 4: Where Do I Rank If Things Go Wrong?

This is the question people forget to ask, and it matters enormously. Ask: in the project's capital structure, where do EB-5 investors sit relative to other lenders and investors if the project runs into trouble?

If there's senior debt ahead of you, you're further back in line for repayment if things go wrong. Understanding your priority position tells you your real risk exposure. A project with EB-5 capital in a reasonable position, and modest senior debt ahead of it, is safer than one where you're deep down the repayment stack behind large lenders. Don't sign without understanding exactly where you stand in the capital stack. This is core financial due diligence.

Question 5: What's the Developer's Track Record?

The people behind the project matter as much as the project itself. Ask: has this developer completed similar projects before? Have they successfully created jobs for previous EB-5 investors? Have they actually returned capital to past investors?

A developer with a repeatable, proven model and a history of delivering both green cards and capital returns is a fundamentally safer bet than a first-timer. Ask for specifics, not vague assurances. Their past behavior is your best predictor of your outcome. This is exactly the kind of thing a proper evaluation covers, and vetting the developer and regional center thoroughly with these 8 due diligence steps is essential before you commit.

Question 6: What Happens If the Regional Center Is Terminated?

Plan for the worst case. Ask what protections you have if the regional center is terminated or debarred through no fault of your own.

The 2022 Reform and Integrity Act added good-faith investor protections that can allow you to preserve your eligibility in these situations, often by amending your petition or moving your investment. A reputable regional center should be able to explain these protections and how they'd apply. Understanding your fallback position if something goes wrong at the regional center level gives you real peace of mind, and it shows whether the people you're dealing with actually understand investor protection. This question separates the serious operators from the rest.

Question 7: Are the Fees and Terms Fully Disclosed?

Finally, make sure there are no surprises. Ask for a complete breakdown of all fees, the administrative fee, subscription fees, and any other costs beyond the $800,000 investment, and make sure every material term is clearly disclosed in writing.

Reputable projects are fully transparent about costs and terms. If you're getting vague answers, or discovering fees late in the process, that's a red flag about how the operator does business. You want everything on the table before you sign, with nothing buried in fine print. Full transparency is a hallmark of a trustworthy project, and its absence is a reason to walk away. Review all of this alongside a complete EB-5 due diligence checklist so nothing slips past you.

The Bottom Line

The subscription agreement is your point of commitment, so it's also your last, best chance to protect yourself. These seven questions, covering the I-956F, capital repayment, job buffers, your position in the capital stack, the developer's track record, regional center protections, and full fee disclosure, get straight to what determines both your green card and your money back.

A strong project and an honest regional center will answer all seven clearly and welcome the scrutiny. Anything less is your signal to pause. So ask every one of these before you sign, and pair them with the broader 10 questions every EB-5 investor must ask . You can review current opportunities on our upcoming EB-5 projects and completed projects pages, and when you're ready to talk through a specific agreement, reach out via our contact page or learn more at Georgia EB-5.

Ask the hard questions before you sign. That's how you protect everything you're investing in.