End of Retrogression for Vietnam-born EB-5 investors?
The EB-5 category saw a lot of activity in the last week of June. First, a federal judge issued a decision invalidating the Final EB-5 Rule enacted by USCIS, thereby reverting to the earlier TEA investment amount of $500,000. Second, lawmakers were unable to reauthorise the EB-5 Regional Center program before the June 30 sunset date. As EB-5 has wide support, it is expected that the Regional Center program will be authorised in the coming weeks.
Meanwhile, Vietnam-born investors saw the fastest movement in priority dates in recent years. In the last 4 Visa Bulletins, Vietnam jumped 3.5 years and now is current for the Non-Regional Center program. The Regional Center program currently shows “U” Or unauthorised for issuance, it is expected that this will show “C” or current, as soon as the program is authorised. This means retrogression for Vietnam-born investors may well be a thing of the past.
Effective March 31, 2020, USCIS made an important process change for the EB-5 form I-526, Immigrant Petition by Alien Investor, from a first-in, first-out basis to a visa availability approach. This is expected the drastically reduce the processing time for I-526 petitions. This process change along with the possible end of retrogression means children of Vietnam-born investors aged close to 21-years may not “age-out” and may be eligible to receive their green cards.
Paraprin Capital has helped hundreds of families obtain EB-5 visa and US green cards. We continuously put together new EB-5 visa investment projects for our clients. Get in touch today to see how we can assist your family obtain US green cards through EB-5 visa program
