Tuesday, May 1, 2012
EB-5 Program statistics released
The EB-5 immigrant investor visa program is still woefully underutilized, if newly released statistics are any guide. The Office of Performance and Quality of U.S. Citizenship and Immigration Services shows that 1,563 I-526 petitions (for the conditional immigrant visa) were approved in federal fiscal year 2011, up from 1,369 in FY 2010.
But based upon preliminary data from the first two quarters of FY 2012, 2,101 I-526 petitions were approved. That's better, but still nothing for USCIS to crow about considering Congress makes available 10,000 visas each federal fiscal year.
On the backside of the process, USCIS approved 1,067 I-829 petitions to remove conditions on residence, and there were 522 approvals during the first two quarters of FY 2012.
The approval percentage for I-526 petitions in FY 2011 was 81 percent, and for the first two quarters of FY 2012, it was 85 percent.