In May, the State department established a cutoff date for visa issuance to mainland born Chinese immigrants using the EB-5 Immigrant Investor Program.
The cutoff, or priority date, impacts when EB-5 investors begin their conditional permanent residence. While Chinese investors who filed their I-526 petitions on or before the priority date can receive their conditional green card immediately upon I-526 approval, those who filed after the priority date must wait for more visas to become available and the cutoff date to advance.
The State Department’s Visa Bulletin releases current priority dates each month; as of September 1, the priority date for EB-5 will advance to make visas available to investors who filed I-526 petitions on or before September 22, 2013. Since July 1, the EB-5 priority date has been set at September 1 of 2013.
Some of the legislative options for the Regional Center Program’s renewal have discussed expanding the number of visas available in the EB-5 category; others have focused primarily on additions to program regulation.
The combination of lengthening USCIS adjudication times and the cutoff date for visa issuance extend the EB-5 immigration timeline, making it critical to track funds correctly. Working with NES Financial makes compliance with immigration and regulatory requirements simple.
As the EB-5 process lengthens, investors need projects they can be confident in—NES Financial’s EB-5 Solutions help projects achieve success, even as the immigration process faces new challenges.
What is EB-5? Find out more by downloading our EB-5 Solution Kit.
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