Set-Asides Remain Current, Unreserved Retrogresses
Thursday, September 8, 2022 - The U.S. Department of State (DOS) has published the monthly Visa Bulletin for October 2022, revealing new cut-off dates for EB-5 visa applicants for the upcoming month.
The U.S. Department of State uses data from applicants filing DS260 (who are current on Chart B - Dates for Filing) to determine current and future demand for visas. If DOS finds that more applicants are documentarily qualified and current on Chart A than there are visas available, the date will retrogress. DOS had previously indicated that many Mainland China-born EB-5 investors who they believed to be current on Chart B were not filing DS260s and becoming documentarily qualified. Likely, many Chinese have now filed DS-260 causing heavy demand for visas abroad at the consulates. This resulted in a retrogression of the final action date for Mainland China-born EB-5 unreserved categories, moving the priority date from December 2015 to March 2015.
Last year additional visas from the family categories were made available to the employment categories (including EB-5). September 30th is the end of the USCIS fiscal year. Based on preliminary numbers, we anticipate that many EB-5 visas will go unused and be lost at the end of the fiscal year. DOS anticipates lower visa number availability for the unreserved category for FY-2023 as compared to FY-2021 and FY-2022, due to COVID19 when a large number of visas from the family categories went unused and were made available to the employment categories (including EB-5).
Also due to the new reserve categories created by the EB-5 Reform and Integrity Act of 2022, there are fewer visas available to the unreserved category in FY23.
DOS will continually monitor this data and make any adjustments to stay within the annual limits. If you have any questions, contact our office directly at email@example.com.