The U.S. EB-5 program has been extended since September 30, 2012, and the processing of EB-5 cases has been very slow. The U.S. Citizenship and Immigration Services (USCIS) is facing significant scrutiny from the media and Congress regarding this issue. According to the latest news from Worldway Immigration, the USCIS website indicates that the average processing time for I-526 applications at the California office has reached 14.7 months, and currently, most EB-5 applications are processed by the California service center.
There are various opinions regarding the reasons for the slow approval process. Experts at Worldway believe that the primary reasons are the surge in application volume, insufficient staffing at the USCIS, and unclear approval policies regarding matters such as the leasing employment model.
For the numerous pending I-924 applications for regional centers, there was virtually no progress last year, leading to significant pressure from project parties and public interest groups on the USCIS. However, with the recent appointment of new officials at the USCIS, there is a commitment to expedite the review process for all EB-5 cases. Currently, the approval of both initial and amended I-924 applications has noticeably accelerated. The first quarter of 2013 has already shown greater efficiency compared to the overall performance in 2012. Since the beginning of 2013, dozens of regional centers have been approved, bringing the total number of regional centers to a record 345.
For many investors, as the backlog of I-924 applications is alleviated, the approval officers will be able to devote more time to the processing of I-526 backlogs. It is noteworthy that on May 30, 2013, the USCIS released the final version of the EB-5 approval policy memorandum. Experts at Worldway believe that this release is significant as it not only organizes the confusion caused by different policy manuals issued at different times but also serves as a comprehensive guide for all immigration categories in the future. Many previously ambiguous issues now have clear policy guidance, which will help USCIS officers make swift decisions.
Due to the USCIS's regular processing time for I-526 applications being 8 months, exceeding this timeframe has caused investors to become anxious about whether their applications will be approved. However, according to the data presented, the current national average processing time for the USCIS is 14.7 months, which reassures all applicants who have been waiting to obtain a green card through the EB-5 program or are considering applying. As a leading organization in U.S. investment immigration, Worldway will continue to monitor the approval dynamics of the U.S. EB-5 program and inform Chinese investors promptly.
