I predicted late last year that the U.S. Department of State would issue a cutoff date for EB-5 visa petitioners from China sometime this spring. The department did not disappoint.
The May Visa Bulletin establishes a cutoff date for Chinese EB-5 petitioners of May 1, 2013.
What does this mean? According to the Visa Bulletin:
"Heavy applicant demand has required the implementation of an Employment Fifth preference cut-off date to hold number use within the maximum level of numbers which may be made available for use by such applicants during FY-2015. No specific prediction regarding movement of this date is possible at present. Future visa availability will depend on a combination of demand for numbers being reported each month, and the extent to which otherwise unused numbers may become available. An increase in visa demand by applicants with relatively early priority dates COULD make necessary a retrogression of this cut-off date prior to the end of the fiscal year; retrogression is NOT being predicted but it cannot be ruled out. It is extremely likely that this category will remain subject to a cut-off date indefinitely."
So, suddenly there are no EB-5 visas for Chinese who filed their I-526 petitions after May 1, 2013!
I am afraid the nightmare scenario is here.