Understanding the January 2025 Visa Bulletin and Possibility of Establishing Cut-off Dates for EB-5 Set-Aside Categories in Fiscal Year 2025
December 31, 2024
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Summarizing the January 2025 Visa Bulletin
The State Department's January Visa Bulletin still shows significant backlogs in the EB-2 and EB-3 categories for India- and China-born nationals, with delays of up to 12 years for India-born nationals and four years for China-born nationals in EB-2 and EB-3.
For the EB-5 Unreserved categories, the final action cutoff dates remain on July 15, 2016, for China and January 1, 2022, for India, while all other countries stay current. The EB-5 set-aside categories (Rural, High Unemployment, and Infrastructure) also remain current. Fragomenβs client alert provides a detailed summary of the January 2025 Visa Bulletin.
Important Note: EB-5 Set-Aside Categories
The January 2025 Visa Bulletin includes a note that signals potential significant update regarding the EB-5 set-aside categories. Notably, the set aside categories have recently been the ones with quickest approval times and ability to concurrently file an adjustment of status application or immigrant visa-process without any backlogs for any foreign national.
The most recent Bulletin states:
βThe Department of State and USCIS note increased I-526E petition approvals, and both agencies see increasing numbers of individuals processing their applications to completion in the EB-5 set aside categories. It may become necessary to establish Dates for Filing and Final Action Dates during the fiscal year to ensure that issuances in these categories do not exceed annual limits. This situation will be continually monitored, and any necessary adjustments will be made accordingly.β
Impact on EB-5 Investors
This note underscores the growing demand for EB-5 set-aside categories. According to data obtained and analyzed by Invest In the USA (IIUSA), a nonprofit trade association for the EB-5 stakeholders, via a Freedom of Information Act (FOIA) request, there are at least 4,274 visas available for Rural Area petitions and more than 2,137 visas for High Unemployment Area (HUA) petitions in FY2025. IIUSA predicts that based on current approval trends, a cutoff date is not anticipated for the Reserved categories during at least the first half of FY2025.
However, if the DOS and USCIS establish Cut-off Dates (Dates for Filing and Final Action Dates) for EB-5 set-aside categories, investors should be aware of the following changes:
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- Investors may no longer be able to file adjustment of status applications concurrently with I-526E petitions. The concurrent filing option has benefited a lot of investors who have valid status (such as H-1B, L-1, F-1, etc.) in the US. allowing them to obtain a five-year work authorization card (EAD) and international travel permit (Advance Parole) while their green card application is pending.
- Investors could experience longer waiting times to receive their green card, depending on when their priority dates become current.
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Takeaways
The January 2025 Visa Bulletinβs note highlights the growing demand in the EB-5 set-aside categories. Investors should work closely with their immigration attorneys to understand how these potential changes might impact their individual cases. While this may create uncertainties for investors, staying informed and working closely with experienced immigration professionals can help mitigate potential challenges.
Need to know more?
For questions related to the EB-5 Immigrant Investor Program, please contact Partners Isha Atassi and Rahul Soni at [email protected] and [email protected], respectively, and Senior Associate Susan Song at [email protected].
