EB-5 Investor Visa Denied: What the Tran Case Means for You
A Vietnamese investor spent years building a paper trail to prove his $500,000 EB-5 investment was legitimate — and a federal court still upheld USCIS's denial of his green card application. The U.S. District Court for the District of Columbia ruled in September 2026 in Tran v. Mayorkas that the agency acted lawfully, setting a clear warning for any foreign investor who uses a third-party intermediary to move money into the United States.
What if USCIS denied your EB-5 petition and you believe the agency made a mistake? That is exactly what Viet Minh Tran, a Vietnamese citizen, argued in federal court — and in September 2026, the U.S. District Court for the District of Columbia ruled against him, granting summary judgment to the government.
Tran had filed an I-526 petition (the application that starts the EB-5 investor green card process) in September 2018. He claimed he invested $500,000 in Steelpointe EB-5, LLC, a real estate development project in Bridgeport, Connecticut. His source-of-funds statement traced the money through his Vietnamese construction companies, a family gift, farmland sales, and — critically — through a third-party intermediary in Hong Kong who wired the dollars to a U.S. escrow account on his behalf. USCIS denied the petition, and Tran sued under the Administrative Procedure Act, arguing the agency's decision was legally wrong, arbitrary, and discriminatory.
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Why the court sided with USCIS
The court found that the burden of proof in EB-5 cases rests entirely on the investor. Under federal regulation 8 C.F.R. § 204.6, an applicant must show — by a preponderance of the evidence — that the invested capital came from lawful sources and that the money can be traced clearly from origin to the U.S. escrow account. The use of an unnamed "business intermediary" to move funds from Vietnam through a Hong Kong bank raised traceability questions the court found Tran did not adequately resolve. The court denied Tran's motion for summary judgment and granted the government's.
What this means for EB-5 applicants
This ruling reinforces a strict standard: every dollar in your EB-5 investment must have a documented, lawful paper trail. Currency exchange restrictions in countries like Vietnam are common, and many investors use intermediaries to move money internationally. But the court's decision signals that using a third party — even for legitimate currency-control reasons — can sink a petition if the documentation does not fully explain and verify each step of the transfer.
What to do
- If you are preparing an I-526 petition (the EB-5 investor application), document every step of your funds' path: bank statements, tax returns, business records, and wire transfer receipts — in both the origin country and the U.S.
- If you use a third-party intermediary to transfer funds internationally, get written agreements, bank records, and a clear explanation of why the intermediary was used — and include all of it with your petition.
- If USCIS has already denied your I-526, you may appeal to the USCIS Administrative Appeals Office (AAO) or, depending on your situation, file a new petition with stronger documentation. Talk to an immigration attorney before choosing a path.
- Follow USCIS's official EB-5 guidance at uscis.gov for current investment thresholds and required evidence checklists.
Related: our step-by-step guide — “Appealing to the BIA”.
Fishkin Law Firm, New York
The Tran decision is a reminder that EB-5 adjudicators scrutinize not just the source of funds but the entire path of funds — every transfer, every intermediary, every currency conversion. If you used a third party to move money due to foreign exchange controls, you need contemporaneous written agreements and bank records from that intermediary, not just your own account statements. Before filing or refiling an I-526, have an experienced EB-5 attorney review your documentation against the 8 C.F.R. § 204.6(j)(3) checklist.
Frequently Asked Questions
What is an EB-5 visa and who qualifies?
The EB-5 is an immigrant investor visa that can lead to a green card. To qualify, you must invest a set amount of capital in a qualifying U.S. business that creates at least 10 full-time jobs for U.S. workers. The investment must come from lawful sources, and you must prove that with documents.
Can I use a third party to wire my EB-5 investment to the U.S.?
You can, but it carries risk. The Tran case shows that USCIS and courts will scrutinize any intermediary transfer closely. You must document why the intermediary was used, who they are, and provide bank records showing the full chain of funds from your account to the U.S. escrow.
What happens if USCIS denies my I-526 petition?
You can appeal to the USCIS Administrative Appeals Office (AAO). You may also be able to refile with stronger documentation. The right choice depends on why USCIS denied the petition. An immigration attorney can review the denial notice and advise you on the best path.
Does this court ruling change the EB-5 rules?
The ruling does not create new rules — it applies existing regulations strictly. It confirms that the investor carries the full burden of proof and that incomplete fund-tracing documentation is enough for USCIS to deny a petition. The standard has always been demanding; this case makes clear the courts will uphold it.