USCIS EB-5 Visa Bulletin : How do EB-5 Priority Dates affect the EB-5 Process?
The EB-5 priority date is an important concept to understand as one makes their way through the EB-5 process. The EB-5 priority date is assigned on the date that the I-526 application is FILED, not APPROVED. Oftentimes clients get this confused. The EB-5 priority date marks the EB-5 investor’s place in the EB-5 queue, which is especially significant for investors from “retrogressed” countries, currently China and Vietnam. The EB-5 priority date really has no bearing on one’s EB-5 application otherwise. If one’s country is not “retrogressed”, which basically means that all of the EB-5 visas have been allocated for that country in a particular year, then the EB-5 visa can be issued as soon as the I-526 application is approved.
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If the EB-5 investor is from a country that is retrogressed, then the priority date carries tremendous significance in the EB-5 process. The EB-5 priority date is essentially one’s “place in line” in the EB-5 queue. Every month, the United States Department of State publishes an EB-5 visa bulletin which announces which EB-5 priority dates are “current”.
In the image above taken from the January 2021 USCIS EB-5 visa bulletin, we can see that only China and Vietnam have EB-5 priority dates announced. The EB-5 priority date of August 15, 2015 for China and September 15, 2017 for Vietnam means that EB-5 investors that FILED their I-526 application on or before those dates are now eligible to schedule their EB-5 visa interview at the US Consulate in their home country. Other countries listed with a “C” for “current”, such as India and Mexico, are not facing EB-5 visa retrogression, so EB-5 investors from those countries may immediately schedule an interview for their EB-5 visa at the US Consulate. For all other countries not listed on the EB-5 visa bulletin, their status is current. Every month, the Department of State will update these EB-5 priority dates, and typically we see steady advancement of those dates, thus helping out EB-5 investors stuck in the EB-5 queue.
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The EB-5 India wait time had previously been affected by the EB-5 visa bulletin, however now the EB-5 India priority date is current, a big relief for Indian EB-5 investors. This may change in the future, but with the reduced number of EB-5 visa applications in 2020 due to the EB-5 investment amount increase and Covid-19, along with the additional unused EB-5 visas leftover from 2020, the EB-5 India wait time is likely to be much less than previously anticipated. For nationals of all other countries, the EB-5 process remains that fastest and most efficient way to obtain a United States Green Card.
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What is EB-5?
The EB-5 program is the fastest and most convenient path to obtaining a United States green card for foreign investor. With an investment of only $900,000, an EB-5 investor can obtain a green card within a couple years, and then receive their $900,000 back after approximately 5 years. The core requirement of the EB-5 program is that the EB-5 investment create at least 10 direct or indirect jobs for US workers. The EB-5 program was created by the US Congress in 1990 and since then has provided a path to a green card and/or citizenship for tens of thousands of immigrant investors.
