The USCIS Immigrant Investor Program Office (IPO) recently published the 2017 Fiscal Year Q2 I-526 and I-829 statistics. The reports show some surprising results as well as patterns in investor behavior.Form I-526The quarterly statistics for form I-526 Immigrant Petition by Alien Entrepreneur show that there were 4,395 petitions filed in Q1 and just 1,731 total petitions in Q2 FY 2017 - a 61% decrease in petitions filed. While this may be a dramatic drop in petitions filed, a closer look at statistics from previous year’s show a pattern of fewer petitions filed in the second and third quarters. Similarly to Q2 FY 2017, in Q2 of FY 2016 the number of petitions dipped from over 6,000 to just 848, and again in Q2 of FY 2015. The percentage of I-526 approvals remained unchanged at 93% (2,816) with only a 7% denial rate. Incredibly, the approved I-526 petitions represented over a billion dollars in EB-5 foreign direct investment (FDI). Despite longer waits for petition adjudications, the number of petitions adjudicated was significantly higher than petitions filed. This resulted in a 5% decrease in total petitions pending from 23,250 to 22,152.Form I-829While there has been some promising news for I-526 petitioners, the most recent statistics for I-829 petitions by entrepreneurs to remove conditions was not as encouraging. The number of I-829 petitions received was 720 - a 4% decrease. There was an increase in I-829 approvals between Q1 and Q2, rising from just 95 to 287. The number of denials for Q2 was 24. Slower than average adjudication and processing times have brought the all total I-829 petitions pending to 7,709 - a 9% increase from FY 2017 Q1.
