New Fiscal Year 2024 Visa Bulletin Shows Advancement of EB-5 Final Action and Dates For Filing
Monday, September 18th, 2023 – Each October new visa numbers become available for the fiscal year reflecting advancement in priority date for those categories that are not current. This sets the tone for the year, with the intention of keeping visa issuance within the limits, with potential date advancements or retrogression throughout the fiscal year dependent on visa demand throughout FY-2024.
Employment Creation Total: The fiscal year 2024 limit for annual employment-based preference immigrants is at least 140,000. Later in the year, The U.S. Department of State (DOS) will provide an estimate on the unused Family-sponsored numbers from the prior fiscal year that will be added to the limit.
Fifth: Employment Creation: 7.1% of the worldwide level, of which 32% are reserved as follows: 20% reserved for qualified immigrants who invest in a rural area; 10% reserved for qualified immigrants who invest in a high unemployment area; and 2% reserved for qualified immigrants who invest in infrastructure projects. The remaining 68% are unreserved and are allotted for all other qualified immigrants.
In addition to the 7.1% of the world wide level, the unused reserved EB-5 visa numbers are carried over from the immediate prior fiscal year’s applicable limits. Looking at the recently released Q2 data from USCIS on adjudications of the new post-RIA form I-526E and monthly DOS numbers release through July 2023, we anticipate substantial carryover from FY 2023 based on limited to no usage of reserved EB-5 visa numbers at the consulates.
FINAL ACTION DATES FOR EMPLOYMENT-BASED PREFERENCE CASES
On the chart below, the listing of a date for any class indicates that the class is oversubscribed (see paragraph 1); "C" means current, i.e., numbers are authorized for issuance to all qualified applicants; and "U" means unauthorized, i.e., numbers are not authorized for issuance. (NOTE: Numbers are authorized for issuance only for applicants whose priority date is earlier than the final action date listed below.)
All dates are Current for Post-RIA filers in any Set Aside Category for investors chargeable (Born) in any county. This means anyone filed or filing under the set-aside category currently has a visa available upon approval and is eligible for concurrent adjustment of status.
China Mainland Unreserved Chargeable (Born) Investors: Advanced 23 days from the September Visa Bulletin, marking the first advance since May 2023. This advancement in priority date brings investors closer to the December 22, 2015 priority date we saw in September 2022 before dates dramatically retrogressed in October 2022 based on increased demand.
If you filed before October 1st, 2015, you are now eligible to receive your visa.
India Unreserved Chargeable (Born) Investors: Advanced a substantial 623 days from the September Visa Bulletin. This is welcome news for India Chargeable Investors who retrogressed 951 throughout FY23 from November 8, 2019 to April 1, 2017.
If you filed before December 15th, 2018, you are now eligible to receive your visa. We encourage India Chargeable Investors who are now eligible to adjust status or advance through NVC to file, if you are not already documentarily qualified (DS-260 completed) as the category could potently retrogress.
DATES FOR FILING OF EMPLOYMENT-BASED VISA APPLICATIONS
The chart below reflects dates for filing visa applications within a timeframe justifying immediate action in the application process. Applicants for immigrant visas who have a priority date earlier than the application date in the chart may assemble and submit required documents to the Department of State’s National Visa Center, following receipt of notification from the National Visa Center containing detailed instructions. The application date for an oversubscribed category is the priority date of the first applicant who cannot submit documentation to the National Visa Center for an immigrant visa. If a category is designated “current,” all applicants in the relevant category may file, regardless of priority date.
China Mainland Unreserved Chargeable (Born) Investors: Advanced 366 days from the September Visa Bulletin, marking substantial advancement and the first movement in over a year.
You are now eligible to file for adjustment of status or advance through NVC if your priority date is before January 1st, 2017.
India Unreserved Chargeable (Born) Investors: Advanced a substantial 845 days from the September Visa Bulletin, bringing the priority date close to current, with the largest volume of unreserved priority dates before December 2019.
You can now file for adjustment of status or advance through NVC if your priority date is before April 1st, 2022. This should allow most India Unreserved Chargeable (Born) Investors to file. We encourage India Chargeable Investors who are eligible to adjust status or advance through NVC to file now, if you are not already documentarily qualified (DS-260 completed) as the category could potently retrogress.
EMPLOYMENT-BASED VISA AVAILABILITY FOR FY-2024
Final action dates across most employment-based visa categories have advanced, reflecting new visa numbers available for FY-2024. Date advancements reflect an intention to keep visa issuance within quarterly limits in accordance with INA sections 201(a)(2) and 203(g), with potential date advancements throughout the fiscal year. However, actual date movements will be dependent on visa demand and issuance patterns throughout FY-2024.
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