September 20th, 2024 at 07:51 am

EB-5 Visa Application Postponed to 2025: Key Implications for Prospective Applicants

The most common path for foreign nationals to work and settle in the United States, the EB-5 Visa program, is undergoing significant changes. According to the latest US Visa Bulletin for October 2024, the EB-5 Visa application process has been rescheduled to January 2025.

This development has substantial implications for Indian investors and prospective immigrants. Although there are challenges associated with the EB-5 Visa program, there are also positive developments, such as advancements in final action dates and opportunities in the EB-5 Set-Aside categories.

Understanding the Impact

For Indians seeking employment and permanent residency in the United States, the EB-5 Visa has historically been a feasible alternative. However, it does have a minimum investment requirement for U.S. enterprises to generate jobs in the country. The average processing time is between five and six years.

As a result of the revised schedule, applications will now be accepted until January 2025, therefore, candidates will need to modify their deadlines and expectations.

Good Things Happening Even With Delays

The October 2024 Visa Bulletin has some encouraging news for Indian applicants despite the postponement:

• Final Action Date Advancement: January 1, 2022, is now the date of final action for the EB-5 Unreserved Category. This implies that processing timeframes for current candidates might be sped up.
• Present Set-Aside Categories: Investors can still take advantage of the current EB-5 Set-Aside categories for high unemployment and rural locations.

Updates on Green Cards Based on Employment

Updates about employment-based visas are included in the October 2024 Visa Bulletin, with a focus on Indian investors.

• EB-5 Unreserved Category: To facilitate the expeditious advancement of present applicants, the final action date has been pushed forward to January 1, 2022.
• EB-5 Set-Aside Categories: These categories, which concentrate on high unemployment and rural areas, are up to date and do not have any backlog.

Notwithstanding these advancements, individuals who want to begin their application process in 2024 may be impacted by the January 2025 deadline for new EB-5 Visa applications. Indian investors and job seekers should be informed about changes to the Visa Bulletin to comply with eligibility and filing criteria.

Issues and Patterns for Indian Candidates

There has been variation in Indian participation in the EB-5 scheme. The number of Indian nationals given EB-5 visas decreased by 22% between October 2023 and May 2024, totaling just 512 visas as opposed to prior years. By mid-2024, the US Consulate in Mumbai, a crucial processing hub, was only managing 50–60 visas per month due to decreased efficiency.

This decrease is indicative of more significant issues like protracted wait periods and processing hold-ups. These challenges are exacerbated by the new rescheduling to January 2025, which will take longer for Indian applicants to obtain their visas.

Next Actions for Investors in India

It’s important to comprehend these changes if you’re thinking about applying for an EB-5 Visa to live in the United States. Even if the new date may appear inconvenient, there are still advantages:

• Quicker Processing for Current Candidates: Final action dates that are advanced are advantageous to system users.
• Possibilities in Designated Categories: Investment opportunities in rural and high-unemployment areas are readily available.

Prospective applicants must make thoughtful plans and choose EB-5-compliant investment possibilities. Navigating these changes will require being aware of upcoming Visa Bulletins and being adaptable with your investing methods.

Key Dates for Employment-Based Green Cards in India

Important dates for Indian applicants seeking employment-based green cards are as follows:

• EB-1: 14 April 2022 (previously 8 February 2022)
• EB-2: 1 January 2013 (previously 22 July 2012)
• EB-3: 8 June 2013 (previously 1 November 2012)
• Other Workers: 8 June 2013 (previously 1 November 2012)
• EB-4: 1 February 2021 (unchanged)
• Certain Religious Workers: 1 February 2021 (unchanged)
• EB-5 Unreserved (C5, T5, I5, R5): 1 April 2022 (unchanged)
• EB-5 Set Aside (Rural, High Unemployment, Infrastructure): Current

These dates offer an overview of the main employment-based categories’ present situation and will help candidates with their preparation and application procedures.