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China born EB5 Investors may have to wait for quota soon
USINFO | 2013-12-03 16:57
US State Department Visa Office recently announced that due to large increase of EB5 investors from China, it may be necessary to set up a cut-off date beginning April 1, 2013. Under the US immigration law, there are limited numbers of immigrant visas available per immigration program, and per country within each program (per country cap). Each country may not exceed 7% of the total available visa numbers under each program. For EB5, the total visa numbers are 10,000 per year. That means if the demand exceeds the available numbers, a cut-off date will be imposed and EB5 investors born in China may not exceed 700 a year. The 700 scenario should not happy because there are not many other EB5 investors from other countries. Take for example this year, there are more than 7000 EB5 applicants. Assuming 80% are from China, 1400 applicants from other countries. That means there are still 2600 visa numbers are available to China born EB5 applicants. Please note since each investor brings an average of 1.5 family members, 4000 EB5 applicants will use 10,000 EB5 visa quotas.
We urge all Chinese EB5 investors to take this new information into consideration when planning your EB5 application, particularly if you have child who will reach 21 soon.
The following is the statement from the Visa Office of the US State Department.
It appears likely that a cut-off date will need to be established for the China Employment Fifth preference category at some point during second half of fiscal year 2013. Such action would be delayed as long as possible, since while number use may be excessive over a 1 to 5 month period, it could average out to an acceptable level over a longer (e.g., 4 to 9 month) period. This would be the first time a cut-off date has been established in this category, which is why readers are being provided with maximum amount of advance notice on the possibility.
The above projections for the Family and Employment categories are for what could happen during each of the next few months based on current applicant demand patterns. The determination of the actual monthly cut-off dates is subject to fluctuations in applicant demand and a number of other variables which can change at any time. Those categories with a “Current” projection will remain so for the foreseeable future, with the possible exception of the China Employment Fifth preference category mentioned above.
We urge all Chinese EB5 investors to take this new information into consideration when planning your EB5 application, particularly if you have child who will reach 21 soon.
The following is the statement from the Visa Office of the US State Department.
It appears likely that a cut-off date will need to be established for the China Employment Fifth preference category at some point during second half of fiscal year 2013. Such action would be delayed as long as possible, since while number use may be excessive over a 1 to 5 month period, it could average out to an acceptable level over a longer (e.g., 4 to 9 month) period. This would be the first time a cut-off date has been established in this category, which is why readers are being provided with maximum amount of advance notice on the possibility.
The above projections for the Family and Employment categories are for what could happen during each of the next few months based on current applicant demand patterns. The determination of the actual monthly cut-off dates is subject to fluctuations in applicant demand and a number of other variables which can change at any time. Those categories with a “Current” projection will remain so for the foreseeable future, with the possible exception of the China Employment Fifth preference category mentioned above.
