Did you know? EB-5 Visa Bulletin for April 2020 is out
This week, USCIS held an EB-5 Stakeholder Engagement meeting. The EB-5 Visa Bulletin for April 2020 is out as well.
The news on retrogression is getting better. Among the three countries that are subject to retrogression so far, both India and Vietnam are processing current, based on the "Dates for Filing" chart, as opposed to the "Final Action Dates" chart. In the March 2020 Visa Bulletin, the Final Action chart showed 15 May 2015 for China, 22 Oct 2018 for India, and 15 Jan 2017 for Vietnam. By contrast, in the April 2020 Visa Bulletin, the Final Action chart is still showing 15 May 2015 for China, 01 Jan 2019 for India, and 18 Feb 2017 for Vietnam. Once I-526 petitions are approved, for filing visa applications, if as expected, Dates for Filing chart, as opposed to Final Action Dates chart is used, India will process current. Vietnam, being in the list entitled, “All Chargeability Areas except Those listed", will also process current. Only China is still retrogressed back to 15 Dec 2015. For China, the dates have not moved from last month in either of the two charts.
For more information on March 2020 Visa Bulletin, please visit:
For more information on April 2020 Visa Bulletin, please visit:
Every month, to track whether the Final Action Dates chart or the Dates for Filing chart should be used, please visit:
https://www.uscis.gov/visabulletininfo
The main topic discussed in the EB-5 Stakeholders Engagement meeting was the decision of USCIS to move from a "first-in, first-out" method to the "visa availability" method in processing I-526 petitions. Starting March 31, 2020, USCIS will adjudicate first, I-526 petitions for investors for whom a visa number will be immediately, or soon available. The rationale for this move is simple. If USCIS had continued to approve the earlier I-526 petitions of investors coming from retrogressed countries such as China, these investors would not have been able to profit from the approval as they would have to wait for their turn anyway. On the other hand, by allowing the investors from underrepresented countries to jump ahead, USCIS believes that they are increasing fairness, and allowing qualified EB-5 petitioners from traditionally underrepresented countries to have their petitions approved in a more timely fashion to receive consideration for a visa. In its website, USCIS had announced this decision on January 29, 2020. To access this announcement, please visit:
https://www.uscis.gov/news/news-releases/uscis-adjusts-process-managing-eb-5-visa-petition-inventory
As a result, once implemented this change will benefit investors from countries that are not experiencing retrogression and are underrepresented. Investors from Turkey, Brazil, Hong Kong, and Taiwan to name a few should benefit from this change. This is also good news for parents whose children would potentially otherwise "age out" and not be able to immigrate with the rest of their family. This is a double-edged sword for investors from retrogressed countries. Their children will have much less danger of aging out, as now there will not be a significant time difference between the date of I-526 approval and visa application date. On the other hand, they will now have to wait much longer for their I-526 applications to be approved. This will lengthen the time they will have their money locked up in successive redeployed projects to fulfill the “at-risk” requirement.
If you would like to get more information about EB-5, please do not hesitate to call us at + 1 917 355 9251 or write to us at [email protected].
Posted by americaeb5visa on March 15, 2020