Demystifying the Visa Bulletin for EB-5 Investors
Pete Calabrese, the CEO of CanAm Investor Services, recently sat down with Rohit Turkhud, Immigration Attorney at CSG Law to break down the Visa Bulletin for EB-5 Investors. You can watch the full video of their conversation here.
Highlights of their discussion included:
The Importance of the Visa Bulletin
One of the most pressing questions for EB-5 investors is, «When will I actually get my green card?» For many investors, especially those already in the United States, the ability to concurrently file for an adjustment of status is a key concern. Understanding the Visa Bulletin is crucial for this process.
Understanding the Visa Bulletin
The Visa Bulletin, published monthly by the U.S. Department of State, is a critical document for anyone involved in the EB-5 process. It contains two main charts: the Final Action Dates chart and the Dates for Filing chart.
- Final Action Dates Chart
- The Final Action Dates chart is the one everyone watches closely because it indicates when applicants can expect to receive their green cards. It’s important to note that the term «current» is often used in this context. However, Rohit prefers the term «available» as it is more applicable to each individual case. For instance, the chart might show a date of December 1, 2020, for the India column. This means that during the month of July 2024, any investor with a priority date before December 1, 2020, is eligible to either receive their green card or file for adjustment of status.
- Dates for Filing Chart
- The Dates for Filing chart can also impact your application process. For example, it might show April 1, 2022, for unreserved categories. This chart is especially relevant for those filing for adjustment of status within the United States. It indicates whether the USCIS allows the use of this chart for filing or requires the use of the Final Action Dates chart. This determination can change monthly, so it’s vital to check regularly.
The Role of Set-Asides in the EB-5 Program
The EB-5 program includes set-asides for certain categories. For example, 20% of visas are reserved for rural areas, and 10% are reserved for high-unemployment areas. There is also a 2% set-aside for infrastructure projects, which has not been utilized so far. These set-asides can influence the availability of visas and the priority processing for certain applications.
Practical Advice for EB-5 Investors
Given the complexity of the Visa Bulletin, Rohit emphasized the importance of consulting with an immigration lawyer rather than trying to decipher it on your own or discussing it casually with friends. The predictability of the Visa Bulletin is notoriously difficult, even for seasoned professionals. Thus, relying on expert guidance is crucial.
Monthly Monitoring of the Visa Bulletin
For those in the U.S. looking to file for adjustment of status, it is essential to check the Visa Bulletin around the 15th of each month when it is released. This ensures you are up-to-date with any changes that might affect your eligibility to file. Both the Final Action Dates and the Dates for Filing charts should be reviewed to understand your filing status accurately.
Conclusion
The Visa Bulletin is a critical tool for EB-5 investors, providing essential information about the availability of visas and the timelines for filing and receiving green cards. Rohit’s insights shed light on the importance of understanding and monitoring these charts regularly. As always, seeking professional advice from an experienced immigration lawyer is the best way to navigate the complexities of the Visa Bulletin and the EB-5 program.
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