EB-5 USCIS processing times have changed. Just over two weeks ago I-526 Immigrant Petition by Alien Entrepreneur processing times were 31.5 months to 52 months, but now they’re 32.5 to 49.5 months.
Checking EB-5 case processing times is easy. Simply visit the USCIS website and select the form and associated service center (Form I-526 or Form I-829 and Immigrant Investor Program Office).
The I-829 Petition by Entrepreneur to Remove Conditions on Permanent Resident Status has also changed, but even more slightly than the I-526. Previously, the I-829 was 21.5 months to 45 months, and now it is 21 months to 45.5 months.
Please note that processing times are influenced by several often unpredictable (and -unknown to us-) factors. Only rough estimates are used.
Historic National Average Processing Times for All USCIS Offices
These USCIS historic processing times provide a different picture. For FY 2019, the average processing time for the I-526 Petition listed was only 19.8 months and the average processing time listed for the I-829 Petition was 33.3 months.
What factors could affect EB-5 processing times?
EB-5 Demand
Fluctuating EB-5 demand in recent months could have a big influence over processing times. We’ll see if there truly was a “rush” of investors prior to the EB-5 Modernization Regulation taking effect when the fourth quarter data is revealed for FY 2019. If fewer investors than expected filed during these months, more visas may have been available for backlogged investors. Looking at the January 2020 Visa Bulletin, this may have been the case for India.
Proposed Filing Fee Increases
Published on November 14, 2019 a new proposed rule would increase the fees charged by USCIS to recover the full costs of adjudication and naturalization services. A look at the new proposed fee changes, however, reveals that the new (very minor increases) may not be adequate to cover the administrative hourly costs needed to efficiently process the EB-5 receipts (and backlog).
New proposed fee increases for:
I-526 Petition: $4,015 (an increase of $340) I-829 Petition: $3,900 (an increase of $150)Adjudication hours to complete:
I-526 Petition: 8.65 hours (previously 6.5 hours from a proposed fee increase rule released in 2016) I-829 Petition: 8.15 hours (previously 5.5 hours from a proposed fee increase rule released in 2016)Average annual projected workload receipts comparison:
I-526 Petition for: FY 2016/17: 14,673 FY 2019/20: 14,000 I-829 Petition for: FY 2016/17: 3,562 FY 2019/20: 3,500With little change in projected workload receipts and more adjudication hours needed, minimal fee increases do not seem adequate to help alleviate the slow processing times.
Visa Availability
Visa availability remains a huge roadblock for the EB-5 Program. The EB-5 visa quota caps and restraints increase wait times. Only 10,000 visas (or 11,000 this fiscal year) are available annually to EB-5 investors and their family members. Additionally, a 7% per country cap means that the most any one country could receive is 700 (or 770 this fiscal year). As mentioned above, however, that 700 includes family members, so in reality, if each investor has two dependents (a spouse and one child), only about 233 foreign nationals from each country could invest in EB-5 each year without their particular country entering retrogression.
A few relief options the industry should seriously consider are only counting principal investors toward the annual limit, lifting or increasing the per country cap, and providing advanced parole for backlogged investors. The EB-5 reform bill introduced in early November by Senators Graham, Rounds and Cornyn, would provide advanced parole and work authorization for investors who have I-526 Petition approval and have already been waiting in line three years for a visa.
In the past, unused visas went to countries where demand exceeded availability, but with EB-5 popularity growing world-wide, less visas are going unclaimed, leading to long visa wait times for countries where EB-5 is in high demand (China, India and Vietnam).
Conclusion: As with most programs, there are significant program issues that need to be addressed, but the EB-5 Program still remains a popular way for foreign entrepreneurs to obtain US green cards. If EB-5 demand dropped in the last several months and the historic processing times are also under 20 months for this fiscal year, now still remains a good time to get started investing in EB-5.
EB-5 works on a first-come first-serve basis. If an EB-5 Program filing surge does happen, filing as early as possible is very beneficial. Find out more by filling out our free evaluation form below.