The estimated annual employment-based visa limit is anticipated to be approximately 261,500 for FY 2021, which begins October 1, 2020. The EB-5 Program receives 7.1% of the employment-based visas available or about 18,566.
From the October 2020 Visa Bulletin:
“Employment-based: All of the Final Action and Application Filing Dates have been advanced at a very rapid pace, in anticipation of the FY 2021 annual limit being approximately 261,500, an all-time high. The movement of these dates has been taken in consultation with USCIS Office of Policy and Strategy to accommodate processing plans for USCIS Offices during the coming fiscal year and to maximize number use within the FY 2021 annual limits. Pending demand, in the form of applications for adjustment of status, and documentarily qualified immigrant visa applicants, is well below the estimated annual limit of 261,500.”
In years past, the annual limit of employment-based visas has been 140,000, of which, the EB-5 Program received 7.1% or 9,940. This new limit of 261,500 is a near doubling of the available visas for the EB-5 preference cases for FY 2021.
Where did these extra visas come from? These extra employment-based visas came from unused FY 2020 family-based visas.
What does this mean for various countries? The per country visa cap of 7% will mean almost that each country will see an increased limit to nearly 1,300 available visas.
This increased number of available visas could greatly benefit Mainland Chinese investors who have been waiting years for an available visa due to long backlogs. If worldwide demand remains low and USCIS processing picks up, thousands of unclaimed EB-5 visas may go to Mainland China investors.
- New York
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