USCIS released the third quarter fiscal year 2020 petition status data for the EB-5 Form I-526 and Form I-829.
Here is the chart from USCIS as well as clearer breakdown of the data by quarter for FY2020:
Q3 FY2020:
Form I-526’s (Immigrant Petition by Alien Investor):
# Received: 40
# Approved: 576
# Denied: 346
# Pending: 15,955
Compared to prior FY 2020 quarters: The number of forms received nearly doubled, but is still less than 1% of the number received in Q1 FY 2020. The number of I-526’s approved and denied both went up, but still indicates a slowing of adjudication overall. The number pending form I-526’s is decreasing, but, again, slowly.
Form I-829’s (Petition by Investor to Remove Conditions on Permanent Resident Status):
# Received: 739
# Approved: 725
# Denied: 23
# Pending: 10,332
Compared to prior FY 2020 quarters: The number of forms received increased slightly between Q2 and Q3, but is still a significant drop off compared to the number received in Q1. The number of approvals has held steady between Q2 and Q3. The number of denials remain low in Q3, but the number of pending form I-829’s has increased slightly this quarter.
Why might now be a good time to invest in the EB-5 Program? The number of I-526 petitions received has been extremely low for the second straight quarter. Now may be a good time to get started on an EB-5 petition if you’re looking to apply before immigration picks back up and the EB-5 program regains popularity.