June 2020 Visa Bulletin Shows Continued Advancement for EB-5 Cut-Off Dates

The U.S. Department of State, Bureau of Consular Affairs, published the monthly Visa Bulletin for June 2020 (View PDF). The latest Visa Bulletin revealed that, while visa services are still under suspension at the U.S. consulate offices worldwide due to COVID-19, the cut-off dates continue to advance for EB-5 visa applicants from China, India, and Vietnam.

FINAL ACTION DATES (CHART A)

The final action dates for EB-5 visa applicants from countries that are experiencing a visa backlog on the June 2020 Visa Bulletin are:

  • China: July 15, 2015 (advanced 2 weeks from the May Bulletin);
  • India: January 1, 2020 (advanced 2 months from the May Bulletin);
  • Vietnam: April 22, 2017 (advanced 3 weeks from the May Bulletin).

Final Action Dates on the June 2020 Visa Bulletin

 

While the advancement on the EB-5 final action dates for China and Vietnam remain moderate between May and June, the movement on the India EB-5 cut-off date has been robust.

In fact, between October 2019 and June 2020 (the first 9 months in FY2020), the EB-5 final action date for India has advanced a total of 852 days, from November 22, 2017 (as of October 2019) to January 1, 2020 (as of June 2020). As Figure 1 indicated, we saw the rapidest movements on the India cut-off dates in May 2020 (273 days), February 2019 (123 days) and January 2019 (120 days).

 

 

DATES FOR FILING (CHART B)

The dates for filing of the EB-5 visa category on the June Visa Bulletin remain unchanged from the May Visa Bulletin. However, according to USCIS, only final action date will be accepted for filing adjustment of status applications for employment-based preference applicants in June 2020. See below for the statement on USCIS website:

For Employment-Based Preference Filings:
For all employment-based preference categories, you must use the Final Action Dates chart in the Department of State Visa Bulletin for June 2020.

 

Earlier this year, USCIS announced that beginning March 31, 2020, the agency will begin adjudicating pending I-526 petitions on the basis of visa availability based on Chart B (“Dates for Filing”) rather than a first-in-first-out approach.

As of June 1, 2020, the dates for filing for EB-5 visa applicants from all countries except for China remain as “current.” It means that USCIS will continue processing the I-526 petitions filed by EB-5 investors from all countries (except for mainland China) in a higher priority under the new adjudication process because of the current availability of EB-5 visas to these petitioners.

Dates for Filing on the June 2020 Visa Bulletin

 

Questions about the EB-5 Visa Bulletin or the Visa Control Process? 

IIUSA is excited to announce that Mr. Charlie Oppenheim, Chief of the Visa Control and Reporting Division at the U.S. Department of State, will join us digitally on Tuesday, June 16 for a webinar to answer questions from the industry stakeholders related to the EB-5 visa numbers allocation. During the live Q&A session, Mr. Oppenheim will share his insights on questions like:

  • What are the behind-the-scene factors that contributed to the rapid movements on the EB-5 final actions date this year?
  • What will happen if the EB-5 visa numbers are not fully used this year due to COVID-19?
  • (Submit your question here!)

If you would like to participate in this live session with Mr. Oppenheim and hear his first-hand insights, REGISTER NOW.

 

Expert Insights on the EB-5 Market in India

With an aggregated movement of 852 days on the EB-5 final action date for Indian applicants, the landscape of the investor market in India is fast changing. On May 21, 2020 IIUSA hosted our latest Investor Market Webinar Series focusing on India, during which our members and EB-5 expert panelists shared their perspectives and insights on recent change of the EB-5 Program as well as the latest development in the Indian market.

Recording of this webinar is now available on IIUSA Educatory Library here.

 

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