Last week, Dr. Michael Hanley, a Data Scientist from the Immigrant Visa Control and Reporting Division at the U.S. Department of State, presented at IIUSA’s 2023 Leadership Summit in Washington, DC. During the event, he shared the latest data on EB-5 visa usage and provided critical policy updates related to EB-5 visa processing. IIUSA would like to extend our special thanks to Dr. Hanley and the Department of State for their continued engagement with the EB-5 industry.
Here are the five most important data points and policy updates that we learned from Dr. Hanley’s presentation at the Leadership Summit:
- FY2023 EB-5 visa issuances is expected to reach the highest level since FY2018.
- It is anticipated that more than 14,000 EB-5 visas will be available for the unreserved category in FY2024.
- The State Department expects to see reserved EB-5 visas being utilized in FY2024.
- Carryover visa numbers will be used before the “regular” EB-5 visa numbers.
- A final determination is being made as to if EB-5 applicants will be required to select a set-aside category for their EB-5 visas when they reach the visa stage at the National Visa Center.
We are pleased to offer all members of IIUSA an in-depth report on Dr. Hanley’s presentation which can be viewed in your member portal account by following the button below. Trouble logging in? Email us at email@example.com