As the U.S. EB-5 investment immigration program continues to be a focal point for global investors, its visa issuance statistics are attracting significant attention. The latest data shows a substantial year-over-year increase in the number of EB-5 visas issued at overseas consulates during the first half of the 2024 fiscal year. What does this change signify? And what are the implications for investors?
Recently, Invest In the USA (IIUSA), the trade association for the U.S. EB-5 investment immigration industry, released its statistical report on EB-5 visa issuance at U.S. consulates worldwide for the first half of the 2024 fiscal year (excluding I-485 approvals by USCIS).
EB-5 Visa Issuance Data by Country/Region and Consulate
According to the latest data released by the U.S. Department of State, a total of 5,070 EB-5 visas were issued through consular processing during the first half of the 2024 fiscal year (October 1, 2023, to March 31, 2024), representing a 64% increase compared to the same period in the 2023 fiscal year. All EB-5 visas issued in the 2024 fiscal year to date belong to the unreserved category.
Visa Issuance for Chinese Applicants
EB-5 applicants from China remain the largest group of recipients in the 2024 fiscal year. The report indicates that a total of 2,767 EB-5 visas were issued to Chinese applicants in the first half of the 2024 fiscal year, accounting for nearly 55% of the total, a year-over-year increase of 75%.
The U.S. Consulate General in Guangzhou issued 2,625 EB-5 visas during the first half of this fiscal year, an increase of 68% year-over-year. The operational efficiency of the Guangzhou consulate plays a crucial role in clearing the existing EB-5 visa backlog.
According to U.S. Department of State data, all EB-5 visas issued through global overseas consulates in the first half of the 2024 fiscal year were granted to applicants in the non-reserved visa category. In other words, as of March 31, 2024, no EB-5 reserved visas under the new EB-5 policy have been utilized for this fiscal year (limited to consular processing).
Based on data released by the U.S. Department of State, the total quota for employment-based immigrant visas in the 2024 fiscal year is 161,000. This means the EB-5 visa quota (7.1% of the total) is approximately 11,431, of which 3,658 are allocated to reserved visas. According to the new legislation, the 4,478 unused reserved visas from the 2023 fiscal year will be carried over to the same category for the following year, bringing the total EB-5 reserved visa quota for the 2024 fiscal year to approximately 8,136.
During the first half of the 2024 fiscal year, not a single EB-5 reserved visa was utilized (limited to consular processing), indicating that the new EB-5 policy is still in its "golden" application period. For those with a need or urgency to relocate to the U.S., the current policy advantages represent a prime opportunity for rapid immigration. Among the EB-5 reserved visa categories, rural projects currently have no visa backlog and receive priority processing from USCIS, making them the preferred choice for those seeking to obtain a U.S. Green Card quickly. Now is the time to seize this opportunity and secure a visa without the wait.
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