Since May 1, 2015, Chinese-born immigrant investors have been subject to a cutoff date for EB-5 visa issuance, due to high demand for EB-5 category visas. This cutoff allows investors who filed their I-526 petitions on or before the priority date to receive a conditional green card once their I-526 is approved but places those who filed after the priority date into a “waiting line” until more visas become available.
The priority date for the EB-5 category has advanced steadily since May. The December Visa Bulletin, published November 9th by the Department of State, advances the cutoff date for Chinese investors to December 15, 2013.
Previously, the November Visa Bulletin set the EB-5 priority cutoff date at November 22, 2013. Priority cutoff dates for Chinese investors lengthen the EB-5 project timeline, potentially creating new concerns for investor repayment at the end of the EB-5 life cycle.
For more information about loan servicing issues in EB-5, watch the recording of our most recent webinar, Preparing for I-829 Success: Best Practices in EB-5 Loan Administration.
What is EB-5? Find out more by downloading our EB-5 Solution Kit.