According to a report by The China Press citing the U.S. Citizenship and Immigration Services (USCIS), the agency has announced plans to establish a professional assessment team to accelerate the processing of investment immigration applications. Eligible investors may utilize an expedited procedure, under which USCIS will render a decision on approval or denial within 15 business days.
The proposal from USCIS is currently open for public comment until June 17, after which it will be officially implemented.
Worldway immigration experts note that the U.S. Congress established the EB-5 program in the early 1990s, allowing foreign investors and their families to immigrate to the U.S. and obtain a Green Card by investing at least $1 million in the United States and creating at least 10 jobs. These investments may be made independently by the applicant or as part of a USCIS-approved Regional Center project. In recent years, the investment threshold for some projects has been lowered to $500,000.
The EB-5 program has an annual quota of 10,000 visas, though USCIS Director Alejandro Mayorkas revealed that this quota has never been fully utilized. He stated that USCIS is committed to strengthening the program to ensure it functions effectively and meets its intended objectives.
This is another step in the Obama administration's "piecemeal" approach to immigration reform through executive action, given the stagnation of comprehensive immigration reform. Under this proposal, USCIS will prioritize the processing of immigration applications for investors whose investments are fully mature and capable of generating immediate employment opportunities. Applicants may also pay an additional fee for expedited processing to receive a decision within 15 business days. Currently, the waiting period for EB-5 is approximately eight months, making the introduction of expedited processing undoubtedly a significant positive development for investors.
Furthermore, USCIS will appoint a team of economic experts to specialize in receiving and assessing the specific circumstances of applicants. Investment applicants for Regional Center projects will be able to communicate with the expert team via email to address any issues arising during the approval process. USCIS will form an expert resolution committee—including economists, adjudicators, and legal counsel—to make final determinations on the approval of investment immigration applications.
In recent years, the number of investment immigrants from emerging economies, particularly mainland China, has been steadily increasing. According to USCIS statistics, only 744 EB-5 visas were issued in 2005, while that number surged to 1,885 in 2010. The top five regions receiving investment immigration visas are mainland China, South Korea, the United Kingdom, Taiwan, and India. Notably, 772 individuals from mainland China were granted EB-5 visas last year, accounting for 41% of the total.
