The United States Citizenship and Immigration Services (USCIS) has released the latest data on EB-5 case filings, denials, and approvals on its website. This data is updated through the fourth quarter of fiscal year 2014, covering the period from July 1, 2014, to September 30, 2014.
Statistical results show that the number of I-526 and I-829 applications for the EB-5 program continues to surge, while approval rates have increased significantly. Worldway immigration experts point out that if the EB-5 quota remains unchanged, visa retrogression will truly arrive soon.
I-526 Approval Statistics
As can be seen from the chart above:
(1) The number of I-526 applications continues to increase
In the four quarters of fiscal year 2014, USCIS received a total of 10,928 applications. Among them, from October to December 2013, USCIS received 2,143 applications; from January to September 2014, USCIS received 8,785 applications. The number of applications continues to rise, which shows that the EB-5 program market is extremely popular and demand exceeds supply.
(2) Significant backlog in I-526 processing time and volume
According to the chart data above, by the end of the fourth quarter, i.e., the end of September 2014, there were 12,453 cases pending adjudication at USCIS.
According to the latest I-526 processing times released by USCIS in September, starting from October this year, the I-526 applications first processed by USCIS will require a waiting period of approximately 14 months.
These data also serve as a warning: if the EB-5 quota remains unchanged, visa retrogression will indeed arrive.
(3) Significant increase in I-526 approval rate
In fiscal year 2014, USCIS approved 5,115 I-526 applications and denied 1,266 I-526 applications.
Statistical results show that the approval rate for I-526 in fiscal year 2014 was 80.16%, representing a significant increase in the approval rate.
I-829 Approval Statistics
As can be seen from the chart above:
(1) Significant increase in I-829 applications
In fiscal year 2014, USCIS received a total of 2,516 applications and approved 1,603 applications. This means that in fiscal year 2014, 1,603 families removed conditions and obtained permanent residency in the United States. Although the number of I-829 applications is lower than that of I-526, the market demand is also extremely strong.
(2) I-829 processing time and volume may face retrogression
By the end of the fourth quarter of fiscal year 2014, there were 2,075 I-829 applications pending USCIS adjudication. According to the latest processing times released by USCIS in September, starting from October this year, the I-829 applications first processed by USCIS will also require a wait of 6 to 7 months.
(3) Significant increase in I-829 approval rate:
In fiscal year 2014, USCIS approved 1,603 I-829 applications and denied 178 I-829 applications. Statistical results show that the approval rate for I-829 in fiscal year 2014 was 90.01%.
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