Waiting list of EB5 Investor Visa reaches 30,000
December 15, 2018
Figures just released by the “National Visa Center” reveal that as of 1st November 2018, 30,259 applicants were on the waiting list for EB-5 investor visas, 26,259 of whom were Chinese nationals. Hence, the backlog for Chinese investors has reached 10 years.
Current immigration laws in the United States (US) limits the total number of EB-5 investor visas that can be granted in a single year to 9940. In addition to this limit, there is a per country cap of 7% of the total EB-5 visas that can be granted. This limit includes dependants of the main applicant. Hence, the actual number of EB-5 investor visas that can be granted in a single year comes down significantly.
At the October 2018 IIUSA / AILA conference in Chicago, it was predicted that investors filing on or after October 30, 2018 would be subjected to the following waiting times :
● China – 14 years
● Vietnam – 7.2 years
● India – 5.7 years
● South Korea – 2.2 years
● Taiwan – 1.7 years
● Brazil – 1.5 years
From the above figures, it is clear that backlogs/retrogression would be applicable to investors from China, Vietnam & India. Investors from these countries must make note of this fact while deciding to invest in the EB-5 visa program.
The EB-5 Investor Visa Program was created by the US Congress in 1990. Since then, it had become the largest residency by investment program in the world till this year, when the Greek Residency Program will overtake it. However, it remains one of the very few preferred routes to a US Permanent Residence (Green Card). For investors who wish to become US Permanent Residents & Citizens, this has to be the “program of choice”.
Contact Us at Migratesmart® to benefit from our expert advice & lower your risk of investing in the EB-5 Investor Visa Program.