Could EB-5 Green Cards Be Processed in 2 Years Without Expedites? Will I-526 EB-5 Petition Processing Dramatically Improve In Near Future?

Apr 29, 2021 | Investor Visas

By Bernard Wolfsdorf

When I first started filing EB-5 petitions many years ago, my clients were frustrated if their EB-5 petitions took 6 months to process. Today, USCIS’ published processing time for an I-526 petition is between 30 and 48.5 months, and if from China, which is quota backlogged, it is between 63.5 and 80.5 months.

USCIS’ recently released performance data provides a potential glimpse into the future regarding Form I-526, Immigrant Petition by Alien Entrepreneur processing.  In Q1 of FY 2021 (October to December 2020), the Immigrant Investor Program Office adjudicated over 1,100 Forms I-526, the second quarter in a row with over 1,000 adjudications (and the most in two quarters for nearly 2 years). With COVID-19 expected to recede, USCIS employees soon heading back to work, and the NVC backlog set to decrease, “normal” processing for EB-5 investors may not be too far out in the distance.    

For the past couple of months, WR Immigration has been receiving approvals for Forms I-526 filed in Q1 of FY 2019 (October to December 2018).  Less than 2,400 Forms I-526 were filed the rest of that fiscal year, before over 4,200 new cases were submitted in Q1 of FY 2020 (October-December 2019) in anticipation of the EB-5 Modernization Rule becoming effective and the minimum investment amount increasing to $900,000.  At this rate, the remaining cases filed in FY 2019 could be adjudicated by September 2021.

Based on the current slow rate of new petition filing and provided USCIS maintains it current policy of putting backlogged petitions (presently only Vietnam and China) at the back of the adjudication line, it appears conditional green card processing in 2022 and beyond, may take only about 2 years. At this rate, all the remaining pending cases could be adjudicated within the next 3 years.  

The facts are clear. The number of new EB-5 case filings has fallen dramatically since USCIS increased the minimum investment amount to $900,000. As a result, it is realistic to guesstimate that immigrant investors who submit a Form I-526 in the next 1-2 years could be looking at processing times of as little as 1-2 years for their green cards, provided the applicant is not from a country that is backlogged and has exceeded its per country quota. While China and Vietnam are the only two backlogged countries presently, it is expected that India may also retrogress at some point in the near future.

Related Posts:

USCIS Releases Guidance on EB-5 Regional Center Lapse

The EB-5 Immigrant Investor Regional Center Program expires at the end of the day on June 30, 2021, due to a lapse in Congressional authorization to continue the program. USCIS has released the following guidance today:  Alert: Statutory authorization related to the EB-5 Immigrant Investor Regional Center Program will expire at midnight on June 30, 2021, unless Congress reauthorizes it. A lapse in authorization does not affect EB-5 petitions filed by investors who are not seeking a visa under the Regional Center Program. In the event of a lapse in authorization related to the Regional Center Program, we will reject the following forms received on or after July 1, 2021: Form I-924, Application for Regional Center Designation Under the Immigrant Investor Program, except when the application type indicates that it is an amendment to the regional center’s name, organizational structure, ownership, or administration; and   Form I-526, Immigrant Petition by Alien Investor, when it indicates that the petitioner’s investment is associated with an approved regional center. In general, we will not act on any pending petition or application of these form types that is dependent on a lapsed statutory authority until further notice. If you were issued written correspondence regarding your petition or application […]

7 Things We Learned from New EB-5 Program Chief Sarah M. Kendall

By: Joseph Barnett Earlier this week, new Immigrant Investor Program Office Chief Sarah Kendall addressed the EB-5 community at the AILA/IIUSA EB-5 Industry Forum in Chicago, Illinois. We are happy to see this type of engagement by USCIS and are hopeful for continued dialogue to address the concerns of immigrant investors and regional centers. Here are seven things we learned from Ms. Kendall: 1. Minor Investors Ms. Kendall confirmed there is no age limit for minors filing as the principal investors but indicated that USCIS will continue to look at issues of contractual capacity and voidability of investment contracts. 2. Bridge Financing Ms. Kendall indicated it was difficult to provide specific guidance on the issue of bridge financing because of the “diversity of work and financial arrangements and structures.” She noted that the term of the loan, by itself, does not disqualify financing as a bridge loan that would receive credit for job creation purposed and that USCIS will look at interim nature of loan and contemplation of future receipt of EB-5 (or other) capital to repay the bridge financing. This is inconsistent with language in RFEs previously issued by USCIS. Additional guidance clarifying this important issue is required to provide certainty for […]