IIUSA Data Report: Form I-526 Statistics for Q2 FY2020 (January – March 2020)

­

IIUSA Data Report: Form I-526 Statistics for Q2 FY2020 (January – March 2020)

On June 23, 2020 USCIS published quarterly statistics for all application and petition form types for the second quarter (Q2) in fiscal year (FY) 2020, including the latest data for Form I-526, Form I-829, Form I-924, and Form I-924A.

Q2, FY2020 (January – March 2020) was the first time when the new EB-5 minimum investment amounts went into effect along with other major regulatory changes throughout the entire quarter. While investors and the EB-5 industry were adjusting to the new rules, COVID-19 pandemic also posed a significant impact on the EB-5 community. IIUSA produced this report, highlighting data and analyses about EB-5 capital investment inflow, I-526 filings, adjudications, backlog and other trends under such unprecedented times for Q2 FY2020.

 

Click here to download the full report (IIUSA members-only).

 

KEY DATA BRIEFING:

I-526 Filings: USCIS received only 21 I-526 petitions during Q2 FY2020. The number of I-526 filing was at the lowest level of the EB-5 history under the joint impacts of the new EB-5 regulations, COVID-19, visa backlog, etc.

 

The follow interactive storyline illustrates there historical quarters in terms of I-526 filings: the quarter with the largest number of I-526 filings, the quarter when investors were able to participate in the EB-5 Program with the $500,000 minimum investment amount, and the first quarter when the new EB-5 regulations went into effect:

(The Ups and Downs of quarterly I-526 filings between FY2013 and FY2020, Q2)

 

I-526 Adjudications: Immigrant Investors Program Office (IPO) adjudicated only 1,359 I-526 petitions in the first half of FY2020, a year-over-year decline of 62% from FY2019.  In particular, only 904 I-526 cases were processed between January and March 2020. IPO processed approximately 900 I-526 petitions per quarter in FY2020; while the agency was able to adjudicate more than 3,600 I-526 cases per quarter in FY2018.

 

I-526 Approval Rates: 714 EB-5 investors received their I-526 approval in Q2 FY2020; while 190 EB-5 investors’ I-526 petitions were denied by IPO between January and March 2020. The average approval rate of I-526 petitions in the last quarter was 79%, a 5% decrease from Q1 FY2020.

 

I-526 Backlog: As of March 31, 2020, more than 16,600 I-526 petitions were still pending in USCIS.

 

EB-5 Investment Inflows: Based on I-526 filings, new minimum investment amount and the average I-526 approval rate, we estimated that at least $16 million EB-5 capital was invested in the U.S. economy in Q2 FY2020. Since 2008, the EB-5 Program has generated more than $37 billion in capital investment for U.S. businesses and American workers.

 

Click here to download the full data report (IIUSA members-only).

 

 

 

 

 

June 26th, 2020|Categories: Research / Analysis, USCIS Adjudication|

Comments are closed.