Invest In the USA (IIUSA) has released the EB-5 application data for the third quarter of fiscal year 2025 (April-June 2025). The significant changes in this quarter's data have attracted widespread attention in the immigration industry. Join the Worldway Group as we examine the signals behind this data.
Record-Breaking Approvals:
EB-5 Enters the "Fast Track"
The report shows that U.S. Citizenship and Immigration Services (USCIS) approved 1,047 I-526E applications in the third quarter of fiscal year 2025, setting a single-quarter record since the implementation of the EB-5 Reform and Integrity Act.
It is worth noting that since the new law was implemented in 2022, a total of 2,910 I-526E applications have been approved, with 1,047 approved in the third quarter of fiscal year 2025 alone.
In other words, the approval volume for a single quarter accounts for nearly 35% of the total volume over the three years since the new law was enacted.
This not only signifies a substantial increase in approval efficiency but also marks the entry of the EB-5 system into a true "fast track."
Record-High Application Volume:
Strong Demand and Returning Confidence
According to the data, USCIS received a total of 5,089 EB-5 applications in the first three quarters of fiscal year 2025 (within 9 months). Among them:
• Regional Center Projects (I-526E): 4,829, accounting for 95%;
• Direct Investment Projects (I-526): only 260, accounting for just 5%.
This volume has already exceeded the total application volume for the entire 2024 fiscal year (4,848)!
Meanwhile, the EB-5 program attracted over $4.1 billion in new investment in the first three quarters, setting the highest inflow record since the implementation of the new law.
The market tells us through its actions: investor confidence is returning, and the EB-5 market is not cooling down, but rather heating up at an accelerated pace.
(For details, please click to read: Worldway Group, along with Huawei and Tencent, Honored as one of the "Top 500 Asian Brands")
Chinese Investors Lead the World: Rural Projects Become the Top Choice
Chinese applicants remain the primary global force. Among the 4,829 I-526E applications:
• Total Chinese applications: 2,380
• Of which rural projects: 1,514
• High-unemployment area projects: 844
In other words, more than 60% of Chinese investors chose rural reserved category projects, which enjoy the advantages of "no visa backlog & priority processing rights."
This not only demonstrates the precise judgment of investors but also highlights the attractiveness of rural projects under the new law.
Winners of the New Law Era:
I-526E Applicants Lead the Way
Since the implementation of the new law, the EB-5 approval landscape has shown a clear divergence. I-526E (Regional Center) applicants have become the "winners" with an absolute advantage.
Data shows that in fiscal year 2025, the approval rate for I-526E was as high as 94%. Even with the surge in approval volume, the trend of a high approval rate remains stable.
In stark contrast, the approval rate for I-526 (Direct Investment) in fiscal year 2025 was only 26%.
The market's choice says it all—Regional Center projects are the absolute protagonists of the new law era, becoming the mainstream choice for investors seeking a "stable and fast" path.
Behind the Acceleration:
It is a Recovery, and Also a "Prelude to a Backlog"
A significant increase in approval speed sounds like good news, but those familiar with EB-5 patterns understand:
A high volume of approvals often means that a visa backlog is imminent.
IIUSA points out in its report: "If this high volume of approvals continues, the Department of State (DOS) may need to set a Cut-off Date for the reserved categories."
In other words, USCIS may be concentrating the release of approvals to make room for visa quotas.
Based on historical experience, similar "explosive acceleration" is often followed by a backlog in the Visa Bulletin 6 to 12 months later.
That is to say, the current fast pace is the window period before a backlog occurs.
Rising Backlog ≠ Rising Risk:
The Key is that the Window Has Not Closed
As of the end of June 2025, USCIS still had 8,965 I-526E applications pending, a 91% year-on-year increase. Although it sounds like "the backlog is increasing," this is actually a reflection of market activity.
More importantly, as of the October 2025 Visa Bulletin:
All EB-5 reserved categories (rural, high-unemployment, infrastructure) remain Current (no backlog)!
This means:
Investors who submit I-526E applications now can still catch this "no-backlog express train."
However, as quota consumption accelerates, this window period will not last long, and a backlog may appear in the near future.
Acceleration ≠ Crisis, It is a Countdown to Opportunity
The acceleration of EB-5 is never a crisis, but a prelude to opportunity.
It represents that approval speeds are increasing, investment enthusiasm is rising, and quotas are tightening.
In 2025, EB-5 is entering a phase of "the fast move first, the slow wait and see."
Accelerated approvals are a symbol of recovery; an approaching backlog is a sign of scarcity.
Rather than waiting, it is better to get on board; the real risk is not the acceleration, but missing out.
Therefore, Worldway Group provides three action suggestions:
✅ Submit as soon as possible while there is no backlog: The earlier you submit, the sooner you enter the approval sequence and lock in your priority date;
✅ Prioritize high-quality projects: Especially rural projects;
✅ Concurrent filing: Submit I-526E + I-485 simultaneously to seize the advantage in status.
It is worth noting that the EB-5 grandfathering provision has entered its final year countdown (expiring on September 30, 2026). Applications submitted before this date will be protected by current policies. Opportunities are fleeting; the earlier you submit, the more secure you are!
Timing is one of the key factors for EB-5 success. Planning ahead is the only way to secure the future of your family's U.S. status. For detailed inquiries, please contact Mainland China: 400-138-2929, Hong Kong Customer Service Center: (852) 2802 8798