The U.S. Department of State Visa Office has officially released the Visa Bulletin for March 2020, the sixth month of the 2020 fiscal year, for the EB-5 Immigrant Investor Program. The latest results show that for Table A, the final action date for EB-5 applicants is May 15, 2015, an advancement of 165 days compared to February. For Table B, the date has advanced significantly by 214 days to December 15, 2015, compared to February.
Table A: Final Action Date (FAD)
(Note: Consular processing at the U.S. Consulate General in Guangzhou & filing of Form I-485 for adjustment of status with USCIS)
Table B: Date for Filing Application (DFF)
(Note: For those already holding legal residence status in the U.S., filing Form I-485 for adjustment of status with USCIS)
[Worldway Group Analysis]
I. The EB-5 investment immigration cutoff date is May 15, 2015, an advancement of 165 days. Investors who have received I-526 approval and have a priority date earlier than May 15, 2015, may proceed to the final stage of consular interviews or file for adjustment of status (Form I-485) in the United States to obtain a Green Card. Due to the impact of the epidemic, the U.S. Consulate General in Guangzhou is currently closed. It has been observed that U.S. consulates across China have begun to gradually open appointments for B1/B2 visas. The U.S. Consulate General in Guangzhou will also gradually reopen EB-5 visa interviews depending on the level of epidemic control, and we believe that immigration visa interviews will be properly arranged for eligible applicants.
II. USCIS has consecutively activated Table B for the first 5 months of the 2020 fiscal year. Whether Table B will be activated in March remains to be seen.
Pessimistic predictions regarding visa retrogression for Chinese investors will be greatly improved
At the end of October 2019, Charlie, Chief of the Visa Control and Reporting Division at the U.S. Department of State, made a prediction regarding the advancement of the EB-5 visa queue for mainland Chinese investors in the 2020 fiscal year: by the end of the 2020 fiscal year (September 2020), the EB-5 visa queue for mainland Chinese investors would advance to March 8, 2015 (optimistic scenario) or February 15, 2015 (pessimistic scenario). However, in March 2020, only halfway through the fiscal year, the EB-5 visa queue for mainland Chinese investors has made a significant one-time jump to May 15, 2015. Although the specific reasons for this significant advancement in the visa queue are not yet known, the new visa bulletin has undoubtedly greatly encouraged the Chinese EB-5 market. A large number of applicants will be able to enter the United States approximately two years earlier than previously predicted.
In addition, the USCIS administrative reform regulations officially took effect on November 21, 2019: the investment amount for projects in Targeted Employment Areas (TEA) increased from $500,000 to $900,000, and the investment amount for non-TEA projects increased from $1 million to $1.8 million. Furthermore, the investment amounts will be adjusted for inflation every five years. The increase in investment amounts will lead to a significant decrease in application demand in the emerging EB-5 immigration market, potentially reaching a freezing point. Against this backdrop, the EB-5 visa queue for mainland Chinese investors will be positively affected—the phenomenon of legal "queue jumping" will be largely eliminated, the number of EB-5 visas issued to mainland Chinese investors annually may return to the level of the 2014 fiscal year (a total of 9,128 EB-5 visas were issued to mainland Chinese investors in FY2014), the waiting time for the visa queue will be significantly shortened, and the speed of visa queue relief may be greatly accelerated.
Therefore, the pessimistic predictions of Chinese investors regarding the visa queue will be greatly improved, and EB-5 is bound to become popular again in China. For investors with a rigid demand for immigrating to the United States, the current EB-5 projects that meet the new TEA designation rules—that is, projects that allow for immigration to the U.S. with a $900,000 investment—are the better choice.
Currently, the Yellowstone Club II project is one of the few high-quality projects under the new USCIS price increase regulations that has received dual approval from USCIS, has exceeded job creation requirements, offers repayment secured by assets worth five times the investment, and allows for immigration to the U.S. at the low price of $900,000. Furthermore, there are currently fewer than 40 spots remaining for this project. It is a rare opportunity; to immigrate to the U.S. quickly, prioritize this opportunity and book as soon as possible.
February 20, 15:00
Online Promotion Meeting for the U.S. Yellowstone Club II EB-5 Project
Senior immigration experts will provide a professional interpretation of the accelerated visa queue
Scan the code to watch the exciting live broadcast. We look forward to your attendance.
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