July 2, 2020 – Amid adapting to regulatory change and challenges posed by COVID-19, an estimated $16 million of EB-5 capital was invested into the U.S. economy in Q2 (January-March) FY2020.
According to recently released U.S. Citizenship and Immigration Service (USCIS) quarterly statistics, only 21 Immigrant Petition by Alien Entrepreneur I-526 petitions were filed during Q2 FY2020; the lowest number in EB-5 history. Conversely in Q2 the Immigrant Investor Program Office (IPO) processed 904 I-526 petitions, up from 455 the quarter prior. While still vastly below the 2018 quarterly average of over 3700 adjudications, this still represents a marked improvement over the last 3 quarters.
IPO currently reports estimated processing times for I-526 at 29.5 - 61 months. Lower receipts coupled with higher processing volumes and a new visa availability approach should long-term reduce waits for the 16,633 non-Chinese investors with I-526 petitions pending and future petitioners. Despite long estimated approval times, FirstPathway Partners delivered an average time of 18 months in Q2, with the fastest approval time at 15.6 months.
The EB-5 Program continues to be a viable path to US permanent residency providing over 240,000 green cards over the past decade.
Click here to review details on IIUSA’s latest Data Report.
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