IIUSA recently obtained data on EB-5 adjudications at U.S. Citizenship & Immigration Services (USCIS) for FY2013. In doing so, we have rounded out receipt/approval/denial data for I-526/I-829 petitions and I-924 applications since the start of the EB-5 Program. This comprehensive dataset, which spans from 1991-2013, is available exclusively to IIUSA members and paints a complete picture of adjudication and investor demand trends since the beginning.
The table below shows I-526/829/924 filing statistics for FY2013:
The comprehensive dataset brings to light several data points that all EB-5 industry stakeholders should be aware of. Here is a list of our eight favorites (we look forward to hearing what yours are!):
- The 6,346 I-526 petitions received in FY2013 accounts for $3.25+ billion in capital formation – a record setting year – while the 3,677 I-526 approvals account for just over $1.83 billion.
- FY2008-2013 (the most recent six years) accounts for 68.5% of all I-526 receipts and 62.8% of all I-829 receipts.
- The I-526 approval rate over the last six years (FY2008-2013) averages out to 83.7%, much higher than the 64.4% over the entire span of the Program’s existence. We see this as evidence that EB-5 policy has become more predictable in recent history, improving approval rates along the way.
- Over the last three years (FY2011-2013), I-526 approval rates have hovered right around 80%; while the I-829 approval rate has eclipsed 90% in each of those years.
- In FY2013, I-829 filing volume was the second highest it has ever been at 1,217, behind only FY2011 when 2,345 were received by USCIS. Given the higher volume of I-526 filings over time, we expect even higher I-829 volume in FY2014.
- The I-829 approval rate over the last six years (FY2008-2013) averages out to 87.1%, much higher than the 73.2% over the entire span of the Program’s existence. We see this as evidence that the Program is delivering on its promise to EB-5 investors!
- I-924 approvals were up 500+% between FY2012 and FY2013, going from 35 to 220 in just one year! This includes applications for initial designation and amendments to existing designations. USCIS made some policy decisions in 2013, while enhancing its administrative capacity, that made this possible.
- The I-924 approval rate jumped from 35.7% in FY2012 to 87.2% in FY2013.