As 2014 comes to a close, 2015 is just around the corner. What development trends can we expect for U.S. EB-5 investment immigration in 2015? Worldway's U.S. immigration experts have made the following predictions and analyses regarding the development situation of EB-5 in 2015 based on a summary of the status of EB-5 in 2014:
1. China Remains the Global Leader in Applications
In 2015, there will be 10,244 EB-5 visas available for allocation, of which 9,050 can be allocated to applicants born in China, slightly less than the number allocated to Chinese applicants in the 2014 fiscal year (in which 9,128 EB-5 visas were granted to Chinese applicants). The proportion of Chinese immigrants accounts for 85.4% of the program, still ranking first in the world. South Korea is second, accounting for 2.1% with 225 visas. Mexico ranks third with 129 visas, while Russia receives 100 visas or less than 1%. Brazil receives 30 visas, accounting for less than 0.5%. See the chart below.
2. Visa Backlogs are Inevitable
The EB-5 backlog for China, also known as the waiting line, which is commonly referred to as "retrogression of the backlog," is inevitable. The cutoff date for China's EB-5 will begin in May or June 2015. The waiting time for the final consular interview will be approximately 2 years. This means that applications submitted before May 2013 will be eligible for the final interview in May or June 2015. The visa bulletin for March 2015 will be released in mid-February, which may contain important information regarding the establishment of the cutoff date for China's EB-5.
3. The Waiting Time Will Extend
From May 2015 to September, the waiting line will increase from approximately 2 years to 3 years. Chinese principal applicants with legal status in the U.S. may be allowed to submit applications for status adjustment, even if their visa queue has not yet reached. Those applicants adjusting their status will be able to obtain work and travel permits while waiting for their green cards.
Worldway's U.S. immigration experts point out: This stage can be referred to as the golden application period for U.S. EB-5 investment immigration. For investors who have already decided to immigrate to the U.S., Worldway's immigration experts recommend choosing projects that have already been approved by the U.S. Citizenship and Immigration Services to ensure a successful application and reduce processing time, or to respond to the backlog effectively.
Currently, the Pennsylvania Turnpike project, exclusively represented by Worldway, is an EB-5 project that has been approved by the immigration bureau and has a professional credit rating from three major international rating agencies. The Pennsylvania Turnpike project has two outstanding advantages: first, it is a 100% government project that has received pre-approval from the U.S. Citizenship and Immigration Services under the 924 actual project; second, the borrower, the Pennsylvania Turnpike Commission, has long maintained an A+ credit rating. Now is the best time to secure a scarce quota for the second phase of the Pennsylvania Turnpike project. For more information, please call: 400-138-2929.
