As covered by ILG’s series on the EB-5 program, the program’s popularity is resulting in a tremendous increase in EB-5 applicants. See: EB-5, Part 4 of 4.
The rapid increase of EB-5 applicants means that the annual cap of 10,000 green cards allowed under the EB-5 program may be reached in 2013. This would be the first time in the over 20 year history of the EB-5 program that a quota waiting line is necessary.
Mr. Charles Oppenheim of the U.S. Department of State, the agency which controls priority date cut-off for the Visa Bulletin, recently announced that if EB-5 visa usage for Chinese nationals continues to grow, the issuance of EB-5 immigrant visas for Chinese investors may slow down sometime in the second half of fiscal year 2013 (i.e., as early as April 2013).
As demand for the investor visa program continues to increase, particularly from Chinese applicants, applicants born in China should expect to see a quota waiting line appear during the period April 2013 until October 2013. Chinese EB-5 investors with approved petitions should do everything possible to move up their final interviews and avoid any delays, or they may be stuck in this new waiting line.