Recently, Charles Oppenheim, Director of the Visa Office of the U.S. Department of State, was invited to attend the 2019 "EB-5 Industry Forum" hosted by IIUSA. As part of the conference's "reserved" segment, Charles Oppenheim spoke at the forum and disclosed the latest statistical data on EB-5 visas as well as the outlook for the EB-5 visa waiting period. Through Charlie's data disclosure and outlook, we observed several positive trends regarding the EB-5 visa waiting period for investors from Mainland China. The details are as follows:
1. The number of EB-5 visas issued to applicants from Mainland China in FY 2019 exceeded expectations
In FY 2019, a total of 9,468 EB-5 visa quotas were issued globally, slightly up from 9,302 in FY 2018. Among them, applicants from Mainland China received 4,326 EB-5 visas, accounting for 46%. This allocation amount and percentage are roughly in line with FY 2018. It is worth noting that the NVC had previously predicted that applicants from Mainland China would only receive 3,500 EB-5 visas in FY 2019. The actual situation far exceeded expectations.
2. The number of EB-5 visas available to applicants from Mainland China in FY 2020 is expected to increase significantly
Charles Oppenheim also made predictions regarding the EB-5 visa quota situation for applicants from Mainland China in FY 2020. Based on the following factors, the number of visas available to applicants from Mainland China in FY 2020 is expected to increase significantly.
I. In FY 2020, the Department of State will allocate approximately 1,100 visa quotas from other visa categories, such as F (family-sponsored immigration) visas, which will increase the total number of EB-5 visas available globally to around 11,000.
II. The usage of EB-5 visas from other countries and regions in FY 2020 is expected to be lower than in FY 2019. After deducting the usage from other countries and regions, approximately 5,200 available visas will mostly be reserved for applicants from Mainland China who are waiting for their turn.
3. The outlook for the EB-5 waiting period for applicants from Mainland China in FY 2020 is more optimistic than previously expected
The State Department's Visa Bulletin has already announced the cutoff date for EB-5 visa waiting periods for November 2019. The cutoff date for EB-5 visas for applicants from Mainland China is "November 1, 2014." Charles Oppenheim, as the Director of the Visa Office, predicted that the cutoff date for EB-5 visas for applicants from Mainland China in the upcoming December visa bulletin will be "November 15, 2014," advancing by two weeks compared to November. It is expected that by the end of FY 2020, specifically by September 2020, the EB-5 waiting date for applicants from Mainland China may advance to "March 8, 2015," or at the latest to "February 15, 2015." This pace of advancement is significantly faster than the nearly one-week advancement per month seen in the past two years.
WorldWay Immigration Observation:
Currently, the EB-5 visa waiting period remains a significant concern for investors from Mainland China. Nevertheless, the fact that the number of EB-5 visas issued to China in 2019 far exceeded expectations, along with the additional 1,100 global EB-5 visas in 2020 and the significant increase in the visa quota available to applicants from Mainland China, these "unexpected yet expected" surprises undoubtedly enhance confidence in the gradual alleviation of the EB-5 visa waiting period for applicants from Mainland China.
Accurately predicting the long-term EB-5 visa waiting period has always been a challenging "conjecture problem." Charlie also mentioned that his personal prediction of the long-term EB-5 visa waiting period is based on the most conservative calculations. The prediction of the EB-5 visa waiting period involves fluctuations influenced by multiple variables.
However, based on comprehensive observations, it can be determined that the EB-5 visa waiting period issue for applicants from Mainland China is generally trending towards effective alleviation:
I. The NVC can adjust the issuance of EB-5 visas in the next fiscal year based on the remaining unused visas from other immigration visa categories. The adjustment of 1,100 additional visas from other categories to the EB-5 category in FY 2020 is a good example. The increase in the annual issuance of global EB-5 visas provides a larger base for the allocation of visas to investors from Mainland China. We have reason to expect that in the context of tightening issuance in other immigration visa categories, more additional visas will continue to be adjusted to the EB-5 category in the future.
II. The significant increase in EB-5 investment amounts will greatly reduce the global EB-5 immigration market, especially as demand from some emerging immigration markets may shrink to zero. In the future, more unused EB-5 visa allocations will be available for applicants from Mainland China.
III. Although the passage of the "Elimination of the 7% Country Cap Bill" is currently facing short-term obstacles, once passed, future EB-5 immigration visas will not allow applicants from other countries or regions to "legally jump the line." In the future, the number of visas obtained by applicants from Mainland China is expected to account for 85% of the annual total.
Additionally, we still hope that Congress will pass legislation to "exclude visa quotas for spouses and children from the visa usage count" to completely resolve the visa waiting period issue.
Friendly Reminder: Currently, there are only 17 days left until the effective date of the U.S. Citizenship and Immigration Services' administrative regulations on November 21, 2019. Once the regulations take effect, if investors wish to continue investing in high-quality EB-5 projects located in urban areas, the required investment amount will not only increase to $900,000 but to $1.8 million, which is a 3.6-fold increase. However, if investors have already subscribed to a project and submitted their I-526 application before the regulations take effect, they will be protected by the "grandfather clause" and will not be affected by the price increase after the reform regulations take effect. Therefore, for investors with a rigid demand for immigration to the United States, it is crucial not to hesitate again, but to invest early, queue early, and await more good news regarding the alleviation or complete resolution of the waiting period.
Investors who have already locked in the "Dallas No. 1" EB-5 project with "dual approvals" and completed employment, we remind you again to complete your subscription, payment, and I-526 application submission as soon as possible to truly catch the "last train" for immigrating to the United States at the low price of $500,000. Project hotline: 400-138-2929.
Advantages of the Dallas No. 1 EB-5 Project:
● Project I-526 sample and investor case both received "dual approvals"
● Located in a prime area of economic growth in the United States, with an excellent geographical location
● Billionaire personally involved and signed on
● Total repayment collateral guarantees up to 3.8 times the EB-5 funds
● Project construction is progressing smoothly, and the required employment has been exceeded
● Developer provides a refund guarantee, ensuring investors receive a refund if their I-526 is denied
● Independent third-party institutions review EB-5 loan disbursements
● Innovative "buyer attorney" protects the rights of EB-5 investors
● Dual independent supervision mechanisms
● Strong EB-5 professional team ensures quality control
● Strong market demand and broad development prospects
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