Monday, December 3, 2012

Increased use of EB-5 clear in new USCIS report

In a report dated October 26, 2012, USCIS reported greater usage of the EB-5 Program.
For the federal fiscal year ending September 30, 2012, USCIS reported that there were 6,041 I-526 petitions filed for the temporary EB-5 visa.  Of those, 3,667 I-526 petitions were approved and 957 were denied.
For the same period, USCIS reported there were 712 I-829 petitions filed for the permanent green card.  Of the total I-829 petitions then pending, USCIS approved 736, and denied 60.
Contrast this with federal fiscal year 2011, when 3,805 I-526 petitions were filed, 1,571 approved, and 372 denied.  I-829s that year?  2,345 filed, 1,067 approved, and 46 denied.
The agency is not close to the 10,000 visa cap yet, but the Department of State has warned that it may have to allow Chinese applicants to "retrogress", causing delays (not long, but delays) in visa issuance.  Please see the entry below for more about that.

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