The EB-5 immigration investment program is one of the most sought-after routes to obtain United States residency and Green Card. The program requires investors to invest $900,000 into a U.S. government approved EB-5 project. As the program progressed and the applications increased with the United States Citizenship and Immigration Services (USCIS), nationals from countries such as India, Vietnam, and China developed what the industry refers to as a ‘backlog’ in visa processing as these nationalities exceeded the annual allocation of visas available for this program. This meant that applicants from these countries were facing up to an additional five to eight years of wait time for receiving their U.S. Green Cards. The wait times vary based on the nationality quota USCIS allocates for the receival of U.S. Green Cards and any updates on the same are posted by USCIS on their monthly visa bulletin.
The July 2020 Visa Bulletin released by USCIS confirmed that there is no longer any retrogression for Indian nationals. Indian nationals are now current, meaning that those investors who have filed their I-526 petitions and received their approval may now apply to receive their visa and thereafter their Green Cards without any further delays. The news is not only beneficial for investors that have already received their I-526 petition approvals, but is also beneficial for all other prospective investors who still wish to apply for U.S. residency via the EB-5 program. This announcement indicates that USCIS no longer has a backlog of applications to process, meaning that all Indian nationals who apply for U.S. Green Cards and residency will not be subject to any additional wait times.
This is an exciting change for the industry as it indicates a move toward faster processing for prospective investors. The EB-5 program has undoubtedly been shaken by the recent changes in the increment of the investment amount from $500,000 to $900,000; however, the program unquestionably still retains the great benefits for investors and their families, and now with no more retrogression for Indian nationals, they can access these benefits much faster and proceed to commence their journey toward obtaining a U.S. passport and unlock all of the benefits that pertain to the same.
Our team of U.S. licensed lawyers have years of experience in helping individuals and families apply for U.S. residency via the EB-5 program. If you are ready to start your migration journey with The American Legal Center of Dubai, contact us today for more information.