USCIS Increases Processing of Regional Center and EB-5 Project Applications in FY2024: IIUSA Report on Forms I-956/F/G/H/K

The most recent data published by USCIS regarding Form I-956 (Application for Regional Center Designation), Form I-956F (Application for Approval of an Investment in a Commercial Enterprise), Form I-956G (Regional Center Annual Statement), Form I-956H (Bona Fides of Persons Involved with Regional Center Program), and Form I-956K (Registration for Direct and Third-Party Promoters) sheds light on the latest trends for the full year of FY2024 in EB-5 regional center (re)designations, the number of EB-5 projects in the market, and USCIS’s adjudications of these new regional center-related applications.

Highlights of our data analysis include:

• Form I-956: In FY2024, USCIS nearly doubled the volume of I-956 adjudications compared to FY2023, while I-956 application filings dropped by nearly 40%. Overall, the approval rate of I-956 applications adjudicated in FY2024 was 92%.

• Form I-956F: I-956F application filings increased by 30% year-over-year in FY2024, despite a slowdown in recent quarters, while USCIS significantly improved I-956F processing times. However, approval rates declined to an estimated 81% since the enactment of the RIA.

• Form I-956G: 501 regional centers submitted their Form I-956G annual statements to USCIS during FY2024, representing only two-thirds of the approved regional centers listed on USCIS’s website.

• Form I-956H: Since the enactment of the RIA, more than 5,900 Form I-956Hs have been filed, with 2,786 of them submitted during FY2024.

• Form I-956K: Over 1,570 third-party promoter registrations have been filed with USCIS since the introduction of Form I-956K in January 2023.

(Form I-956F Statistics)

For more in-depth data analyses for the regional center related trends, download the full report here (Members Only)

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