Before capital moves, because the evidence file is built differently for each. Nothing forces a decision on a fixed date, and no processing time can be guaranteed. Set a realistic milestone for finishing due diligence, then let the strength of the evidence, not a sponsor's closing deadline, determine when the petition is filed.
Sequence diligence ahead of subscription
Give the funding review, the project review and the legal opinion their own dates, and expect the source-of-funds work to take longest where records are old or held abroad. After filing, visa availability governs when an immigrant visa or adjustment can proceed, and that is outside the investor's control. Because statutory capital adjustments begin in 2027, verify the applicable amount again shortly before filing if the decision slips into a later year.
Treat visa availability as a planning input rather than a footnote. Movement in the relevant category depends on demand and on the applicable limits, and it can change between the decision to invest and the point at which an immigrant visa or adjustment becomes possible. That waiting period sits outside anyone's control and has to be planned around rather than assumed away.
Hypothetical example: an investor funding a commercial bakery expansion asks what the household would do if the wait ran to several years, and settles schooling, business succession and residence questions on that footing before any capital moves.