On August 23, the U.S. State Department publicly announced that the quota for U.S. investment immigration (EB-5) for Mainland China was tight for FY 2014. As of September 30, 2014, the interviews for EB-5 immigrant visas for Chinese investors will be paused, marking the first time since the implementation of this program in 1990 that the quota was exhausted before the end of the fiscal year. Upon the announcement, it caused a stir, leading to various speculations in major media, and many investors undergoing immigration procedures felt panicked, fearing that the U.S. would halt investment immigration.
The U.S. designates the period from October 1 to September 30 of the following year as a fiscal year. As FY 2014 is about to conclude, based on the current EB-5 submission volume and historical backlog, the EB-5 quota for FY 2014 has already been used up, which is why there is talk of a "pause" in issuing EB-5 visas.
Tomorrow, October 1, marks the start of the new fiscal year in the United States, and the new quota will commence allocation.
WorldWay Immigration, honored as the general agent for the Greater China region for the Pennsylvania Turnpike project, is an EB-5 project related to national interests and monopolized by the U.S. government, which has been pre-approved by the U.S. Citizenship and Immigration Services. The project’s attorney, who is also the Chair of the U.S. EB-5 Committee, has partnered with WorldWay Immigration to launch a 5-day expedited submission service in response to the quota backlog!
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