Press Release

In a significant development, the U.S. Department of State released its October 2023 Visa Bulletin, unveiling per-country visa quotas for issuance. The monthly visa bulletin is a vital resource for understanding the visa processing system and estimating approval timelines for pending EB-5 visa applications, based on allocated visas for the fiscal year.

Of particular interest is the EB-5 Immigrant Investor Program, which has seen an eagerly awaited shift in visa issuance priority dates for Indian Nationals. According to the latest data, the visa issuance priority date has moved up by a year to December 15, 2018, compared to the previous information provided in August 2023. This development means that individuals who applied on or before December 15, 2018, now have visa availability, eliminating the need for extended waiting periods. This is a welcome change, especially considering the less favorable data reported previously.

The EB-5 program presents an accelerated path to U.S. residency and citizenship. By investing $800,000 in a qualifying government pre-approved real estate project that generates a minimum of ten full-time jobs, families can secure U.S. Green Cards. This investment opens the door to living, working, and thriving in the land of opportunities, promising a brighter future. Investors can include their dependent family members, including a spouse and children under 21, in their EB-5 application.

The October Visa Bulletin indicates a significant improvement in the current backlog for processing EB-5 petitions for Indian nationals. This positive trend brings investors awaiting their EB-5 visas closer to their goal. Furthermore, investors with filing dates before December 15, 2018, can now leverage the opportunity to concurrently file and submit applications for their Adjustment of Status, provided they meet the eligibility criteria. To be eligible for an Adjustment of Status petition, a foreign national must possess a priority date that precedes the date listed on the visa bulletin and be in the U.S. on a valid non-immigrant visa.

Shai Zamanian, EB-5 expert and Legal Director at the American Legal Center, remarked, “Earlier this year, both Indian Nationals faced significant retrogression. The improved visa availability is a positive development. It’s worth noting that October marks the beginning of Fiscal Year 2024 for the U.S. Department of State, and with the availability of new immigrant visa numbers, most cut-off dates have advanced and may continue to do so as the financial year progresses.”

New U.S. EB-5 visa seekers or those who filed after 2022 – No additional wait periods
Under the new regulations, EB-5 investors who file their petitions are exempt from retrogression or extended waiting periods. Visa set-asides, a new category of reserved visas under the EB-5 Program, ensure that visas are allocated for investors in each fiscal year. Specifically, 10 per cent are reserved for applicants who invest in high unemployment areas, 20 per cent for those investing in rural areas, and 2 per cent for infrastructure projects. Essentially, if you choose to invest in one of these specific project types, you are guaranteed a visa allocation, even if numerous applicants from your birthplace nationality have also applied.

The American Legal Center comprises a team of U.S. licensed lawyers dedicated to assisting families in the GCC area in obtaining U.S. green cards and passports through the EB-5 visa program. For further information, please reach out to the team at +971 52 446 6095 or email media@america.ae.