Last month, USCIS published the quarterly statistics for Q2, FY2024 (January 1 – March 31, 2024), including the latest data on Form I-829 (Petition by Entrepreneur to Remove Conditions). This data provides valuable insights into the trends surrounding the final step in EB-5 investors’ immigration process.
Our key takeaways from the latest data release include:
- I-829 case filings in the first half of FY2024 reached the lowest level in the past decade, likely correlated with the reduced issuance of EB-5 green cards in FY2020 and FY2021 during the pandemic.
- USCIS continues to improve its productivity in adjudicating I-829 cases, with the number of processed cases in the first half of FY2024 reaching an all-time high.
- The number of I-829 approvals in Q2 FY2024 alone exceeded the total approvals for all of FY2023.
- The approval rate for I-829 cases adjudicated in the first half of FY2024 was 95%, showing a rebound from FY2023.
- The backlog of I-829 petitions has consistently decreased each fiscal year since the enactment of the RIA, primarily thanks to improved productivity in case adjudications.
- Despite the progress, the processing time for I-829 petitions in Q2 FY2024 remained close to 39 months.
See the full report here (IIUSA members only) for more detailed analyses of the latest trends in Form I-829 petitions.
