Nearly all the 2024 fiscal year is now complete. U.S. immigration authorities have announced new improvements and are implementing proactive measures to reduce processing delays.
These developments include faster processing times for “Reserved Visa” categories (Rural 20%, High Unemployment 10% and Infrastructure 2%), priority processing for rural project applicants, strategic allocation of visa numbers, and electronic transmission of petitions.
The DOS has announced that it does not anticipate priority dates retrogressing in FY2024. Those “Current” dates will remain available, and the priority date of those experiencing a backlog will not roll back.
This applies to both the filing Final Action Dates (Chart A) and Dates for Filing (Chart B) in the Visa Bulletin. It covers all EB-5 visa categories. It also includes applications from any country.
Despite these efforts, one needs to remain cautious. Potential challenges and delays may still arise. This could happen throughout the remainder of the fiscal year and into 2025.
In an earlier blog post, Houston EB-5 has published about the limitations of the Visa Bulletin. The main limitation is that it does not consider EB-5 applications filed that are in the pipeline and have yet to be received by USCIS or the Department of State.. Therefore, an overbooked category can show as “Current”.
The August Visa Bulletin shows “Current” final action dates for Reserved Visas (Rural 20%, High Unemployment 10% and Infrastructure 2%).
However, our analysis of the recent FOIA (Freedom of Information Act) data shows that HUA is already oversubscribed.
The crucial point for individuals and families planning to pursue EB-5 is to act now. This allows eligible investors to take advantage of the available “Current” status of reserved visa categories. In that way, they can secure their place in the upcoming queue by investing and submitting their I-526E immigrant investor petition and concurrently file their I-485 adjustment of status application.
Cautious optimism about DOS forecasts for EB-5 visas
The DOS expects all unreserved EB-5 visas to be fully used by the end of the fiscal year on Sept. 30 acknowledging high demand.
Currently, filing and final action dates for the Unreserved Category are current for all except Indian and Chinese EB-5 investors.
According to the August visa bulletin, the dates for Indian investors are Dec. 1, 2020, for filing and Apr. 1, 2022, for final action, while for Chinese investors, the dates are Dec. 15, 2015, for filing and Jan. 1, 2017, for final action date retrogression.
The Final Action Dates (Chart A) indicate when an application will be processed and decided upon marking when an immigrant visa is available, and a green card can be issued.
Dates for Filing Applications (Chart B) show the earliest date applicants can submit documents for the final stage of the green card process, helping determine when to file an adjustment of status application if immigrant visas are available.
EB-5 visa availability is determined by the applicant’s priority date, which is the date their petition was filed. If the priority date is earlier than the final action dates listed on the chart, the applicant can proceed with their application.
These charts are crucial for determining when individuals can apply for an immigrant visa through the embassy and consulates. The National Visa Center (NVC) plays a significant role in processing these applications, especially for those in high unemployment areas, as outlined in INA Section 203 of the Immigration and Nationality Act.
The DOS’s decision to maintain the cut-off dates for unreserved China and Indian applications for the rest of FY2024 is unsurprising given that other countries are using worldwide numbers.
This limits the number of unreserved that can be given to high-demand countries once they have reached their 7% country cap.
The DOS has announced that for the set-aside visa categories (rural, high unemployment, and infrastructure), they will keep the final action dates current throughout FY2024. This policy ensures no changes in these dates for the entire fiscal year
This is considered positive news as it suggests short-term continuity in visa availability.
The DOS has announced that the final action dates for the set-aside visa categories (rural, high unemployment, and infrastructure) will stay current throughout FY2024. This is expected to persist into FY2025.
This announcement is viewed as good news, suggesting stability in visa availability.
The National Visa Center (NVC) has 40,000 EB-5 applicants with approved I-526E Petitions. These applicants are currently waiting for an EB-5 visa. Among these, over 330 are post-RIA investors with approved set-aside petitions for rural and high-unemployment areas.
Regarding processing times, the DOS has reported improvements due to quicker responses from applicants and faster scheduling of interviews in FY2024.
It has been suggested that the approaching presidential elections could be influencing this trend.
Investors can choose which category they prefer for visa processing.
A positive development is that the DOS is allowing investors in reserved categories to choose between being processed in the applicable reserved visa category or the unreserved category.
If enough non-China-mainland and non-Indian-born investors choose the unreserved category, which is current for the rest of the world, it will free up more reserved visa numbers for China-mainland-born and Indian investors.
This could delay the imposition of a Final Action Date in the reserved categories. Consequently, this flexibility could benefit those in reserved categories by extending visa availability.
Applicants seeking employment-based immigrant visas, including those under the EB-5 category, must keep track of the final action dates for employment-based visas. Understanding these timelines is essential for navigating the complex immigration and maintaining compliance with immigration regulations
