FY 2016 was an eventful year for the EB-5 program. The outcomes of these events, including a successful short-term reauthorization of the EB-5 program, have been reflected in the quarterly statistics released by USCIS. The fourth quarter was no exception.In regards to I-526 petitions, a total of 5,509 petitions were received in the fourth quarter, bringing the FY 2016 receipt total to 14,147 leading to 20,804 total petitions pending. This has resulted in longer wait periods for investors. As of January 31st, 2017 the Immigrant Investor Program Office (IPO) was processing applications received on September 27th, 2015.The number of I-829 petitions received in the fourth quarter was 903 - just slightly lower than the 905 petitions received in the third quarter- bringing the FY total to 3,474. Similar to the I-526 petition, the number of pending I-829 petitions has compounded over time. Ultimately, this has created longer wait periods for adjudication. Applications received on October 6th, 2014 were being processed as of January 31st, 2017. Finally, IIUSA’s report highlighted a positive trend in I-829 adjudications. We were pleased to see that, despite a rigorous verification process, the approval rating remained high.
