How can I switch to an EB-5 visa while already in the U.S. on a tourist visa?

If you enter with an intent to adjust that can be a big problem, but if you enter for legitimate B-visa reasons and then as decision to invest occurs only 90+ days after arrival, you may be eligible to apply to adjust in the US and obtain a work card within about 90 days.

There are several things to consider here and the analysis differs for each person. At this time, you can file for adjustment of status - regardless of your country of origin as long as you invest in a project that qualifies for a visa set aside.

It is possible to apply for a green card after arriving on a tourist visa. In fact, the Foreign Affairs Manual (FAM) issued by the U.S. Department of State says that one permissible (albeit, declared) activity while using the B-1 visa may be to prospectively examine potential investments. Other questions need to be asked, however, of you directly under attorney-client privilege to be able to ascertain whether you are ultimately eligible to apply for adjustment of status while you are or are not lawfully present in the U.S. If you do not apply in the U.S., then you would have to apply for an immigrant visa (IV) overseas upon the approval of your I-526 or I-526E petition. Hence, for many investors, if they are lawfully present inside the U.S. and eligible to adjust status here, then applying in the U.S. can have considerable advantages such as temporary work and travel authorization while your I-526/I-526E petition is pending.

If you are in the U.S. you should be able to file Form I-526 concurrently with Form I-485 (depending on the monthly visa bulletin). Doing so will allow you to remain in the U.S. after the expiration of your I-94 based on the pending I-485 application. There are strict travel restrictions once you have filed Form I-485. I recommend speaking to an immigration attorney concerning your future plans to ensure proper timing and strategy.

Under a 2015 executive rule, B-1 nonimmigrant visa holders were listed as being compatible with a pending EB-5 immigrant petition. Under a 2017 change to the U.S. Department of State''s manual, visa officers can consider whether a foreigner entered the U.S. using a nonimmigrant visa (such as B-1/B-2) and then engaged in contravening activities that show immigrant intent within 90 days of arrival. They could use this information to presume fraud or misrepresentation on the part of the foreigner, which carries heavy immigration law penalties. Neither of the above has been formally rescinded, so reasonable people may disagree on how the immigration authorities may interpret them. It is advisable to consult with experienced immigration legal advisors to minimize the risk of contravening the relevant regulations and laws.

It seems to me that you cannot concurrently file the application for an EB-5 visa and adjustment of status. As such, filing the EB-5 will not extend or change your B1/B2 visitor status in the U.S.