Approximately 60,000 Additional Employment Visas Available for Fiscal Year 2021 (Starting October 1, 2020)

Approximately 60,000 Additional Employment Visas Available for Fiscal Year 2021 (Starting October 1, 2020)

June 18, 2020

Charles Oppenheim, Chief of the Visa Control and Reporting Division at the U.S. Department of State, when addressing the EB-5 trade association IIUSA on June 15, 2020, estimated that the “FY 2021 Employment limit [could be] at least 200,000 [as opposed to the regular 140,000].”

This is because he “currently expect[s] that there will be a significant amount of unused FY 2020 family numbers …” after the shutdown of consulates due to the COVID-19 pandemic.

While qualifying that things, “could always change between now and September, and impact that estimate,” this is good news for all the employment categories, especially the EB-5 employment category where the unavailability of visas, together with the increase in the maximum investment, has caused a slump in EB-5 filings.

However, the EB-1, 2 and 3 visa categories would benefit most with an estimated 51,480 visas going to these three categories collectively.

Mr. Oppenheim also confirmed that the annual deduction of 700 EB-5 and 300 EB-3 visas as a result of the Chinese Student Protection Act will be completely satisfied in FY2020. Therefore, not only will China receive its full annual quota in FY2021 (starting October 1, 2020), but it will also benefit from this unused family visa spillover.

EB-4 and EB-5 each get 7.1% of the allocation of an additional 4,260 visas, approximately.  EB-1,2 and 3 each get 28.6% of the quota so each category would likely get an additional 17,160 visas, approximately.

Courtesy of AILA EB-5 Committee, Carolyn Lee and Bernard Wolfsdorf

 

By | 2020-06-18T07:37:50-08:00 June 18th, 2020|EB-5|Comments Off on Approximately 60,000 Additional Employment Visas Available for Fiscal Year 2021 (Starting October 1, 2020)

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