For just the second time in EB-5 history, over 1,000 investors filed their I-829 petitions in the past quarter. The continued growth in I-829 filings validates that the EB-5 Program has been creating an increasing number of jobs for U.S. workers and fulfilling its promise to stimulate economic growth.
Using data from the latest Form 1-829 quarterly statistics published by U.S. Citizenship and Immigration Services (USCIS), IIUSA analyzed the most recent trends of I-829 petitions for Q1 FY2020 and complied its latest data report, which can be accessed on the IIUSA Member Portal.
The comprehensive report is for members only, but we hope you enjoy a sneak peek of some of the key insights below. Of course, should you be interested in exploring the full report or in gaining access to a myriad of other benefits, we invite you to Join Today!
KEY DATA POINTS
I-829 Filings: 1,013 EB-5 investors filed their I-829 petitions in Q1 FY2020, a year-over-year growth of 27% and a 17% increase from the previous quarter. This is the second time in EB-5 history that the number of I-829 filings exceeded 1,000 petitions in one quarter.
I-829 Adjudications: USCIS adjudicated only 442 I-829 petitions in Q1 FY2020, a drop of 7% year-over-year. The productivity of I-829 adjudication remains at a low level, as USCIS processed 480-900 I-829 cases per quarter in FY2018.
I-829 Approval Rate: The average approval rate for I-829 petitions in Q1 FY2020 was 99%, the highest approval rate since Q2 FY2018.
I-829 Backlog: As of December 31, 2019, there were 10,373 I-829 petitions pending, the highest number of pending I-829 petitions in EB-5 history.
Access the comprehensive data report through your member portal here.