Recently, the 2022 EB-5 Investment Immigration Industry Forum was held in Orlando, USA. Initiated by Invest In the USA (IIUSA) and led by former Chief of the Visa Office at the Department of State, Charlie Oppenheim, this forum has long been regarded as a bellwether for the U.S. EB-5 investment immigration industry and has attracted significant attention from global immigrants. Please join Worldway Group as we review the insights from this forum regarding EB-5 visa backlogs, new policies, and future outlooks.
Employment-based immigration quota doubles in FY 2022, backlog expected to ease
In fiscal year 2022, the quota for employment-based immigration, including EB-5, has doubled from the previous 140,000 green cards per year to 280,000. Of this, 19,880 visas are allocated to the EB-5 category, marking the highest level in recent years.
According to U.S. immigration law, any unused family-based immigration quotas from a fiscal year are transferred to the employment-based immigration quota for the following year, which has provided the EB-5 category with additional visa quotas. In fact, the number of available visas in the EB-5 category has been increasing for three consecutive years since 2020.
According to the table above, the total number of visas available for the EB-5 category in 2020, 2021, and 2022 is approximately 49,000. This figure is quite close to the 44,357 applicants waiting in the visa backlog (as of November 2021, the total number of applicants at the U.S. National Visa Center (NVC) was 52,336, with 44,357 coming from mainland China). If fully utilized, this could significantly alleviate the backlog issue.
Unfortunately, the pandemic has impacted the processing and issuance of visas in the EB-5 category. Since 2020, the annual available visas for the EB-5 category have not been fully utilized, resulting in waste. It is expected that visas will also be difficult to fully utilize this year. It is reported that relevant organizations and stakeholders will actively promote the maximum utilization of wasted EB-5 visa quotas through legal interpretation and regulatory details, or potentially reuse the wasted visas to significantly alleviate the EB-5 backlog issue. We shall wait and see! Worldway Group will continue to monitor the situation and share any news with you as soon as it becomes available.
EB-5 investment immigration adds three visa set-aside categories, no backlog
The latest EB-5 policy for fiscal year 2022 allocates visa quotas, with 20% reserved for rural area projects, 10% for high-unemployment area projects, and 2% for infrastructure projects. According to the U.S. Department of State Visa Office's May 2022 Visa Bulletin, these three types of projects under the new regulations are currently free of backlogs.
As is well known, the United States, as a traditional major immigration destination, is an excellent choice for investors to plan their status. The EB-5 investment immigration program is favored by investors for its unique advantages, such as low thresholds, fewer requirements, and the ability for the whole family to obtain green cards through a single application. Currently, the reauthorization of the EB-5 Regional Center Program has achieved a phased victory and will continue in a brand-new form until September 30, 2027, winning a relatively long period of policy stability for the EB-5 industry and investors. The act grants a 60-day window for the new EB-5 Regional Center Program, and government agencies such as U.S. Citizenship and Immigration Services (USCIS) will issue relevant implementation policies to put the new act into effect. Worldway Group will continue to maintain close contact with all parties and actively follow the latest developments.
For those immigrating to the United States, in addition to the EB-5 investment immigration route, investors with plans for a quick move to the U.S. can also immigrate through the EB-1A Extraordinary Ability immigrant program. The EB-1A program does not require employer sponsorship or a labor certification; it features a short application cycle, fast approval, no backlog, and approval can be obtained in 6-8 months. The whole family can obtain permanent green cards in one step, and the green cards are marked E-11, making it convenient to work and live in the United States.
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