On August 28, the U.S. Citizenship and Immigration Services (USCIS) released the latest data on EB-5 case submissions and approvals for the third quarter of fiscal year 2015 (from April 1 to June 30, 2015). Worldway has compiled and analyzed the latest data as follows:
I-526 immigrant petitions: As of the third quarter of 2015, there are 13,117 petitions pending approval. The USCIS significantly accelerated the approval speed of I-526 petitions in the third quarter, approving 3,125 petitions. At this rate, the remaining pending I-526 petitions will take approximately 12.6 months to be fully processed.
![[Authoritative Interpretation] Latest EB-5 Case Review Data for the Third Quarter of Fiscal Year 2015](http://www.worldwayhk.com/file/upload/201508/31/14-46-08-26-41.png)
I-829 removal of conditions petitions: As of the third quarter of 2015, there are 4,007 petitions pending approval.
![[Authoritative Interpretation] Latest EB-5 Case Review Data for the Third Quarter of Fiscal Year 2015](http://www.worldwayhk.com/file/upload/201508/31/14-46-34-71-41.png)
Approval rates for I-526 and I-829 from 2005 to 2015:
![[Authoritative Interpretation] Latest EB-5 Case Review Data for the Third Quarter of Fiscal Year 2015](http://www.worldwayhk.com/file/upload/201508/31/14-46-53-78-41.png)
[Worldway Authoritative Interpretation] The approval rates for both I-526 and I-829 this quarter remain stable at a high level. However, as of the third quarter of 2015, there are still 13,117 I-526 immigrant petitions pending approval. This indicates that the current backlog and waiting times are still quite severe. Additionally, Charles Oppenheim, the Director of the Visa Office at the Department of State, announced that the EB-5 visa waiting time for China will gradually extend from 2 years to 2.5 years in the fiscal year 2016! This means that the waiting times will only continue to increase, and investors should act promptly. On one hand, early investments are protected by the grandfathering rule and can simultaneously obtain USCIS sample project approvals, thus avoiding the impacts of policy changes and price increases on projects and investments; on the other hand, action must be taken to race against time. The sooner the application is submitted, the sooner it will be approved, allowing investors to catch the last train before policy changes and join the queue for U.S. green card visa waiting times.
Disclaimer: All rights reserved. If you wish to reproduce this article, please be sure to indicate that the source is Worldway. The information or opinions in this article are for reference only.