The U.S. Department of State has released the October 2024 Visa Bulletin, offering encouraging news for participants in the EB-5 program under the new Reform and Integrity Act (RIA), as well as for Mainland China and India-born investors, who have been waiting under the pre-RIA EB-5 program. In this article, we provide initial insights into what the latest bulletin means for investors and applicants.
Positive Developments for Set-Aside EB-5 Visa Categories
According to the October 2024 Visa Bulletin, visa categories reserved for rural, high-unemployment, and infrastructure projects located in Targeted Employment Areas (TEAs) are expected to remain current for most of Fiscal Year 2025, which begins on October 1, 2024, and ends on September 30, 2025. Despite strong demand and the possibility of a final action date cutoff being introduced, the bulletin indicates that applicants from China, India, and other countries can continue filing adjustment of status applications. They will also benefit from the lower investment threshold of $800,000, priority processing (where available), and a current priority date.
EB-5 applicants residing in the U.S. can now concurrently file for adjustment of status (AOS or Form I-485) along with their EB-5 immigrant investor petition (Form I-526E). This simultaneous submission significantly accelerates the immigration process, allowing investors to obtain employment authorization and travel privileges earlier while awaiting adjudication. In many cases, it also enables faster progress toward permanent residency. Additionally, it provides greater financial flexibility and job security by freeing individuals on H-1B, L-1A, and other work visas from being tied to employer sponsorships. The EB-5 visa also offers international students on F-1 visas or Optional Practical Training (OPT) a pathway to employment without the uncertainty of the H-1B visa lottery. Read more about the ability of U.S.-based EB-5 Investors to file petitions concurrently.
Golden Gate Global, a leading EB-5 Regional Center, proudly offers Targeted Employment Area (TEA) EB-5 investment opportunities to our valued investors. We are committed to helping you expedite your immigration goals and secure a prosperous future for your family in the United States. To support these objectives, our EB-5 project underwriting focuses on feasible, secured loans with relatively short loan terms. Please check our currently available EB-5 investment projects.
Significant Movement in Pre-RIA Waiting Lines
The October 2024 Visa Bulletin revealed significant advancements for Mainland China-born and Indian applicants under the pre-RIA EB-5 program. The backlog for Mainland China-born individuals, which had been stagnant since 2015 due to a surge in applications, has made an impressive leap. The Final Action Date has moved forward by seven months, from December 15, 2015, to July 15, 2016. While subject to monthly fluctuations based on visa availability, this progress marks a substantial step forward for many applicants.
For those born in Mainland China, this update means that applicants who filed under the Date for Filing can now be approved by USCIS, and those abroad may soon receive their green cards. Indian nationals have even more reason for optimism, as their Final Action Date has advanced significantly, from December 1, 2020, to January 1, 2022.
“We are thrilled for our applicants born in India and Mainland China who have patiently navigated the backlog. Your perseverance is about to be rewarded as you move closer to receiving your green cards. This milestone marks a significant step toward realizing your dreams in the United States, and we are excited to celebrate this pivotal moment with you,” said Eren Cicekdagi, Managing Director of Operations at Golden Gate Global.
Looking Ahead
The outlook for 2025 remains highly positive, continuing the success of the new EB-5 program. To date, the program has attracted more than $41 billion in total capital investment, supporting at least 820,000 U.S. jobs across various sectors. Since the program’s renewal under the Reform and Integrity Act (RIA) in 2022, approximately $4.5 billion has been raised, further highlighting its ongoing impact on the U.S. economy. As the fiscal year progresses, potential EB-5 investors and current applicants can look forward to more developments that may enhance their opportunities and streamline the immigration process.
This continued positive trend underscores the significant benefits provided by the EB-5 program, not only for investors but also for the U.S. economy as a whole.
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