USCIS has released the EB-5 and Regional Center application statistics for the 2010 fiscal year and the first two quarters of 2011.
As of June 2011, there were 147 Regional Centers (RCs) covering 39 states, including the District of Columbia and Guam. 90-95% of individual EB-5 investor applications are Regional Center applications. There are 83 pending Regional Center applications. 9 applications for Regional Center amendments are awaiting USCIS approval.
USCIS data shows that both Regional Center and individual EB-5 applications are increasing rapidly. USCIS reported 146 new Regional Center applications in the first two quarters of 2011, a significant increase compared to the 110 applications for the entire year of 2010. USCIS approved 25 Regional Center applications and denied 11, resulting in an approval rate of 69%. This is a substantial increase in the RC application approval rate compared to 2010, when USCIS approved 36 and denied 30 Regional Center applications.
USCIS reported a significant increase in individual EB-5 investor I-526 and I-829 applications. In the first two quarters of 2011, USCIS received 1,601 individual I-526 applications, compared to only 1,955 for the entire year of 2010. The increase in I-829 applications is even more pronounced; a total of 1,150 I-829 petitions to remove conditions were received in the first two quarters of 2011, whereas the total number of I-829 applications for the entire year of 2010 was 768.
In the first two quarters of 2011, USCIS approved 407 I-526 applications and denied 96. For the entire year of 2010, USCIS approved 1,369 I-526 applications and denied 165. In the first two quarters of 2011, USCIS approved 166 I-829 applications and denied 26. In 2010, 274 I-829 applications were approved and 56 were denied.
USCIS reported that although the estimated processing time for I-526 approval is 5 months, the actual processing time is 5.5 months; however, industry insiders state this time is approximately 7 months. The estimated time for USCIS to approve Regional Center amendment applications is 4 months. USCIS states that it currently takes 4.5 months to approve initial Regional Center applications and 1 month to process amendments and modifications.
Regarding I-829 applications, USCIS states that their processing speed has exceeded the expected 6 months. USCIS states that the current time to approve an I-829 is 1 month. USCIS stated that it will strive to provide a response within 30 days after receiving a response to a Request for Evidence (RFE).
USCIS will reach a record number of approved EB-5 visas. The current estimate is that 2,129 EB-5 visas will be issued in the first two quarters of 2011. In the entire year of 2010, the number of EB-5 visas issued was 1,885. The record for 2009 was 4,218 EB-5 visas.
The next EB-5 stakeholder meeting is scheduled for September 15, 2011, at 1:00 PM. USCIS will update stakeholders on the latest developments and discuss topics of interest. USCIS specifically noted that they hope everyone will ask more questions regarding Form I-912A. The deadline for submitting questions is August 15, 2011.
