EB-5 Visa for Canadian Citizens: Green Card, Tax and TN or E-2

Reviewed by Jane Katkova, Founder & Licensed CICC Consultant· Last updated: September 2026

An EB-5 visa for a Canadian citizen is the one US route that ends in a green card without a job offer, a treaty business or a profession list: US$800,000 in a rural targeted employment area, no country backlog, and a decision in about 9.6 months. Before you file, we assess the tax consequences with you: a green card makes you a US tax resident on worldwide income, and leaving Canada triggers departure tax.

EB-5 visa for Canadian citizens: key facts and timelines

• Capital of US$800,000 (TEA) or US$1,050,000. Indexes from 1 January 2027; at risk, structured for repayment
• No Backlog for Canada. Current in every category; we still recommend rural for the priority processing
• Decision in About 9.6 Months for Rural. High-unemployment 17–52 months; unreserved 30–61
• Already in the US: File I-485 Concurrently. From TN, E-2, L-1, H-1B or another valid status; work and travel card in months
• Consular Processing When Applying from Canada. Immigrant visa interview in Montreal after I-526E approval
• US Tax on Worldwide Income from the Green Card. FBAR and FATCA reporting on Canadian accounts; RRSP and TFSA need specific handling
• Canadian Departure Tax on Deemed Dispositions. Canada–US treaty tie-breaker and foreign tax credits govern the overlap
• TN and E-2 as Alternatives. Work visas that never become a green card on their own

Who the EB-5 visa suits: Canadian citizens and residents

For Canadian citizens

You already have the most accessible temporary routes to the US of any nationality, which makes EB-5 a considered decision rather than an automatic one. TN status gets a listed professional into a US job in days at almost no cost; E-2 lets you run a US business you have bought or built for as long as it operates. Neither is permanent residence. TN depends on the employer and the profession, E-2 on the business, and a child on either loses status at 21. If you want a green card for the family that belongs to you, EB-5 is the route, and for Canadians it is uncomplicated: no backlog, rural decisions in about 9.6 months, and if you are already in the US in valid status, an I-485 filed the same day.

We devote the first hour of our assessment to tax planning. A green card makes you a US tax resident on worldwide income from the day it issues, wherever you live, and it stays that way until you formally give the card up, which can itself carry an exit tax for long-term residents. Becoming a US resident and ceasing Canadian residence triggers Canadian departure tax: a deemed disposition of most capital property at fair market value, with exceptions for Canadian real estate, RRSPs and some others. The Canada–US treaty tie-breaker decides which country you are resident in when both claim you, and foreign tax credits stop double tax on the same income but not the filing. Registered plans need specific elections; a TFSA is not recognised by the IRS. We bring a cross-border accountant in before we shortlist a project, because the better answer is sometimes E-2 status and a US property, not a green card.

• A green card is a residence obligation: long absences risk abandonment, and citizenship needs physical presence.
• Provincial health coverage ends when you leave; budget for US health insurance.
• Children over 21 need their own petition; file while they are under 21 and the Child Status Protection Act freezes their age.

For Canada residents on another passport

Two situations apply. First, you are in Canada on a work permit, study permit or PR, born in India, China, Nigeria or elsewhere, and you want the US instead. EB-5 visa availability depends not on your Canadian status but on your country of birth (chargeability). Unreserved EB-5 is backlogged for India and China; rural and high-unemployment set-asides are current, so you file in a set-aside, process at the consulate in Montreal, and keep your Canadian status until the immigrant visa issues. Second, you are a Canadian PR who holds a passport with no E-2 treaty: EB-5 is your investor route to the US, since E-2 is not available on your nationality.

In either case, source of funds is the core of the file. Money earned in Canada is easy to trace; money brought from India or China needs the paper trail from origin, including any remittance limits at the source.

• Canadian PR is lost after too long outside Canada; plan which status you are keeping.
• Concurrent filing is only for people physically in the US in valid status; from Canada it is consular processing.
• Read how the set-asides avoid the backlog.

EB-5 visa compared with TN status and the E-2 Treaty Investor visa

TN: created by NAFTA and continued by USMCA for about 60 listed professions; employer-specific; three-year periods renewed indefinitely; no investment; no path to a green card without a separate petition, and because TN is not a dual-intent status, a pending green card can complicate renewals at the border. E-2: for Canadians who own at least half of a real, operating US business and invest an amount substantial for that business; the spouse can work; renewable for as long as the business runs; children age out at 21; no path to a green card on its own. EB-5: US$800,000 in someone else's project, 10 jobs counted through economic modelling, a green card for the family, and the tax consequences above.

Our usual advice: if you want to work in the US for a few years, take TN or E-2 and keep Canadian residence. If you want the family to be American, file EB-5 in a rural project this year, before the 30 September 2026 grandfathering date passes, three days after our verification date, and before the minimums index on 1 January 2027. If you are already in the US on TN or E-2 and have decided to stay, EB-5 with concurrent I-485 converts a temporary status into permanent residence without touching your employer or business.

Documents required for a Canadian EB-5 petition

Beyond the US attorney's standard petition, these are the pieces specific to a Canadian applicant. Figures verified 27 September 2026.

Immigration and identity

• Canadian passport for each family member
• Proof of current US status if adjusting (I-94, TN or E-2 approval, H-1B I-797)
• Birth and marriage certificates; long-form for children
• RCMP police certificate and any other country lived in for six months or more since age 16
• Medical exam by a designated civil surgeon or panel physician

Source of funds

• Canadian T1 returns and notices of assessment, typically five years
• Bank and brokerage statements tracing the US$800,000 and the fees
• Sale agreements and land-transfer records for any property sold to fund the investment
• Corporate financials and dividend resolutions if funds come from a private company
• Gift letters and the donor's own source-of-funds evidence for gifted capital
• Currency conversion records: the wire from CAD to USD must be traceable end to end

Tax and planning

• Cross-border accountant's departure-tax estimate and treaty position before filing
• Decisions on RRSP, TFSA, RESP and any Canadian corporation before the green card issues
• Plan for Canadian real estate: keep, sell or rent, and the deemed-disposition exception
• US health insurance from the date of the move
• Will and estate review: US estate tax applies to green-card holders domiciled in the US

EB-5 visa for Canadian citizens: benefits and risks

Advantages

• No backlog, no sponsor. Canada is current in every category, and the petition is yours, not an employer's.
• Priority processing for rural projects. About 9.6 months to an I-526E decision, 77% within a year.
• Concurrent filing from TN or E-2. A work and travel card in months, and no more border renewals.
• The whole family, permanently. Spouse and children under 21 receive green cards; citizenship possible five years after the conditional card.
• Capital investment, not a donation. Structured for repayment in five to seven years, unlike a Caribbean or European contribution.

Limitations and risks

• Worldwide US taxation. From the day the card issues, with FBAR and FATCA reporting on every Canadian account.
• Departure tax. Ceasing Canadian residence is a deemed disposition of most assets at fair market value.
• Capital at risk. By law. A failed project can cost the money and the green card.
• Residence obligation. A green card cannot be held as a dormant option; plan for relocation.
• Programme dates. Regional-centre authorisation runs to 30 September 2027; grandfathering only for petitions filed on or before 30 September 2026; minimums index from 1 January 2027.

Cross-border EB-5 advice from a licensed Toronto consultancy

We are licensed CICC consultants who work with US immigration attorneys and cross-border accountants. In one consultation we assess whether EB-5, TN or E-2 fits, and what it will cost in tax as well as in capital. Book a consultation.

Frequently asked questions

Can a Canadian citizen get an EB-5 visa?

Yes. Canadians qualify on the same terms as anyone: US$800,000 in a targeted employment area project that creates 10 jobs, lawful source of funds and admissibility. Canada has no EB-5 backlog, and rural petitions are decided in about 9.6 months on average.

Is EB-5 better than a TN or E-2 visa for a Canadian?

They serve different purposes. TN and E-2 are work visas tied to an employer or a business; they are low-cost and quick but never become a green card on their own. EB-5 costs US$800,000 at risk and makes you a US tax resident, but it gives the family permanent residence. For permanent settlement, EB-5 is the route; for a stay of a few years, TN or E-2.

Can a Canadian in the US on TN file EB-5 and stay?

Yes. If you are in the US in valid status you file I-485 with the I-526E and receive employment authorisation and advance parole while USCIS decides. Because TN is not dual-intent, we time the filing so you do not need a TN renewal at the border afterwards.

What tax does a Canadian pay after getting a green card?

US tax on worldwide income from the day the card issues, with FBAR and FATCA reporting on Canadian accounts. Leaving Canada triggers departure tax on deemed dispositions of most capital property. The Canada–US treaty and foreign tax credits prevent double tax on the same income, not the filing in both countries.

Does a Canadian need to give up Canadian citizenship for EB-5?

No. A green card is residence, not citizenship, and Canada permits dual citizenship in any case. Even if you later naturalise in the US, you keep your Canadian passport. What you do give up is Canadian tax residence, with departure tax on exit, and you take on US tax on worldwide income.

This guide is part of our United States Residency by Investment: EB-5 and More overview.

Official sources and references

1. USCIS: EB-5 Immigrant Investor Program
2. USCIS: Form I-526E
3. US Department of State: Visa Bulletin
4. Canada Revenue Agency: Leaving Canada (emigrants), departure tax
5. IRS: Determining an individual's tax residency status