(Click here to read the full report in PDF)
IIUSA was honored to welcome Dr. Michael Hanley, a Data Scientist from the Immigrant Visa Control and Reporting Division at the U.S. Department of State, as the keynote speaker at the 2024 EB-5 Industry Forum in Atlanta, GA. During his presentation, Dr. Hanley shared the latest data on EB-5 visa, critical policy updates related to Set-Aside visa processing, and his predictions on future movements of EB-5 cut-off dates. IIUSA would like to extend special thanks to Dr. Hanley and the Department of State (DOS) for their continued engagement with the EB-5 industry.
Here is a recap of the ten key takeaways that we learned from Dr. Hanley’s presentation at IIUSA’s 2024 EB-5 Industry Forum:
- DOS expects that all Unreserved EB-5 visas to be fully used in FY2024;
- Nearly 40,000 EB-5 applicants registered at the NVC and are awaiting an EB-5 visa;
- Over 330 post-RIA investors registered at NVC, encompassing approved Set-Aside petitions for Rural, High Unemployment Area (HUA) and multi-categories;
- Set-Aside EB-5 visas began to be used in FY2024 for both Rural Area and High Unemployment Area (HUA) categories;
- EB-5 applicants are responding more promptly to submit required documents, and the scheduling of EB-5 interviews is faster in FY2024;
- Final Action Dates will remain current for all EB-5 Set-Aside categories during the remainder of FY2024 and likely throughout FY2025;
- The EB-5 Unreserved cut-off dates for China and India are expected to remain unchanged for the remainder of FY2024;
- Set-Aside investors with dual approval from USCIS must choose only one category for EB-5 visa processing;
- EB-5 petitions are now transmitted electronically between USCIS and NVC, significantly reducing the turnaround time for inter-agency processing; and
- Carryover visa numbers will be utilized prior to regular EB-5 visa numbers to maximize visa availability.
