EB-5 Visa Application Rescheduled to 2025: What It Means for Applicants

The EB-5 Visa program, a popular route for foreign nationals to work and settle in the United States, 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.

Understanding the Impact

The EB-5 Visa, which requires a minimum investment in U.S. projects to generate American jobs, has traditionally been a viable option for Indians aiming for employment and permanent residency in the U.S.

The typical processing time is around 5 to 6 years. With the new schedule pushing applications to January 2025, applicants will need to adjust their timelines and expectations accordingly.

Positive Developments Amidst Delays

Despite the postponement, the October 2024 Visa Bulletin includes some positive developments for Indian applicants:

• Advancement in Final Action Dates: The final action date for the EB-5 Unreserved Category has moved forward to January 1, 2022. This means existing applicants may see faster processing times.
• Current Set-Aside Categories: The EB-5 Set-Aside categories for rural and high unemployment areas remain current, offering immediate opportunities for investors.

Also Read: EB-5 Visas Exhausted for FY 2024: Reset and New Limits Effective October 1

Updates on Employment-Based Green Cards

The October 2024 Visa Bulletin includes various updates for employment-based visas, particularly affecting Indian investors:

• EB-5 Unreserved Category: The final action date has moved forward to January 1, 2022, allowing current applicants to progress more swiftly.
• EB-5 Set-Aside Categories: These categories, focused on rural and high-unemployment areas, remain current with no backlog.

Despite these improvements, the delay in new EB-5 Visa applications until January 2025 may impact those who plan to start their process in 2024.

Indian investors and job seekers should stay updated with the Visa Bulletin to ensure compliance with eligibility and filing requirements.

Challenges and Trends for Indian Applicants

Indian participation in the EB-5 program has fluctuated. From October 2023 to May 2024, there was a 22% decrease in EB-5 visas issued to Indian nationals, with only 512 visas granted compared to previous years.

The US Consulate in Mumbai, a key processing center, also saw reduced productivity, handling only 50-60 visas per month by mid-2024.

This decline reflects broader challenges such as extended wait times and processing delays. The new rescheduling to January 2025 adds to these difficulties, further lengthening the time required for Indian applicants to secure their visas.

Also Read: EB-5 Visa vs. H-1B Visa: Which One Is Right for You?

Next Steps for Indian Investors

For those considering the EB-5 Visa for U.S. residency, understanding these changes is crucial. Although the rescheduling may seem like a setback, there are still positive aspects:

• Faster Processing for Existing Applicants: Advancement in final action dates benefits those already in the system.
• Opportunities in Set-Aside Categories: Immediate options are available for investments in rural and high-unemployment areas.

Prospective applicants should plan carefully, selecting investment opportunities that meet EB-5 requirements. Staying informed through future Visa Bulletins and being flexible with investment strategies will be essential to navigating these changes.

Key Dates for Employment-Based Green Cards in India

The following dates are crucial for Indian applicants seeking employment-based green cards:

• 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 provide a snapshot of the current status for various employment-based categories and will guide applicants in their planning and application processes.