Since the implementation of the EB-5 Reform and Integrity Act of 2022 (RIA), the I-526 and I-526E filing processes have changed significantly. However, one of the biggest challenges remains accessing reliable, real-time data from USCIS. To bridge this gap, Invest in the USA (IIUSA), in collaboration with 11 regional centers and through the Freedom of Information Act (FOIA), collected and analyzed actual I-526E and I-956F processing times. The findings of their analysis were recently published in a comprehensive report, which you can find here.
In conjunction with the release of the report, IIUSA hosted a webinar with industry experts, including CanAm’s Chief Operating Officer, Christine Chen, to discuss the latest trends in case filings, adjudications, and processing times in the EB-5 program.
The EB-5 investment visa program has been gaining renewed interest, especially following the implementation of the Reform and Integrity Act (RIA). However, the program faces a major challenge: insufficient visa availability for a growing pool of applicants. As demand increases, the likelihood of retrogression—delays in visa issuance due to oversubscription—becomes a pressing issue. In response, IIUSA and other stakeholders have ramped up advocacy efforts to push for visa relief and legislative changes.
WATCH NOW: Post-RIA I-526/E Data Trends: Filings, Adjudications, and Processing Times
The Need for Advocacy in EB-5 Visa Reform
Advocacy has always been central to the EB-5 community, but the recent surge in demand has amplified the need for more robust support and legislative action. The IIUSA has taken the lead in addressing these concerns, working closely with Congress and other policymakers to emphasize the economic benefits of the EB-5 program. The primary goal is to increase visa allocations or revise how derivative family members are counted against the annual cap.
Christine, Chief Operating Officer at Can-Am Enterprises and a board member of IIUSA, highlighted that advocacy efforts are now focused on securing visa relief and ensuring the program’s stability. This includes engaging in quarterly fly-ins, meeting with congressional leaders, and promoting legislative initiatives like the Dignity Act and the Advisory Committee Act. These measures aim to address critical challenges and position EB-5 as a valuable tool for economic development across the United States.
Visa Reform and Legislative Proposals
Visa reform is crucial for the sustainability of the EB-5 program, especially as the current visa cap limits the number of green cards available each year. One of the key proposals is to eliminate or revise the way derivative family members are counted against the annual visa quota. This would effectively increase the number of available visas and reduce wait times for investors from high-demand countries such as China and India.
Additionally, IIUSA is promoting the Advisory Committee Act, which would establish a dedicated committee of EB-5 experts, mayors, and chambers of commerce representatives. This committee would serve as a direct line of communication between USCIS and the EB-5 community, helping to ensure that the program’s rules and regulations are effectively implemented and that policy adjustments can be made in response to market needs.
The Dignity Act, another legislative proposal supported by IIUSA, aims to address broader immigration challenges while including specific provisions that benefit the EB-5 program. If passed, this legislation could bring much-needed relief to the program by expanding visa availability and streamlining processing procedures.
Industry Collaboration and Data-Driven Advocacy
One of the standout elements of IIUSA’s advocacy strategy is the use of data to support its case for reform. The organization has been working closely with regional centers and immigration law firms to collect comprehensive data on EB-5 filings, processing times, and adjudication trends. This data-driven approach has not only highlighted the urgent need for visa reform but has also provided insights into market trends and investor behavior.
During the recent webinar, IIUSA shared findings from Freedom of Information Act (FOIA) requests, revealing a significant increase in filings from China and India. These two countries, historically the largest markets for EB-5, are once again leading the charge. However, the increased demand has led to concerns about potential retrogression, especially for high-unemployment areas and rural project categories.
The data also showed that while there is robust interest from China and India, there is an emerging trend of lower family sizes in new EB-5 petitions. This suggests a shift in investor strategies, likely influenced by concurrent filing options and changing market dynamics.
Future Trends and Market Stability
Looking ahead, the EB-5 industry faces two critical deadlines: September 30, 2026, for the grandfathering of cases under the RIA rules, and September 30, 2027, for the program’s reauthorization. These deadlines are expected to drive a surge in applications as investors seek to secure their green cards under the current regulations.
While 2024 and 2025 are likely to see steady filing volumes, a significant spike is anticipated in 2026 and 2027. This surge could exacerbate existing visa bottlenecks, making advocacy for legislative reform even more critical.
The EB-5 program’s viability depends on stakeholders’ ability to adapt to these changes. Visa relief remains essential to ensuring that the program can continue to attract investors and contribute to U.S. economic development.
Call to Action
The EB-5 community is encouraged to support these advocacy efforts by participating in industry discussions, reaching out to local congress members, and staying informed about the latest developments in the program. The next few years are crucial for the future of the EB-5 program.
With continued collaboration and strategic advocacy, the community can work together to ensure that EB-5 remains a valuable pathway for investment and economic growth in the United States.
