In a groundbreaking development, Indian nationals aspiring to secure US Green Cards through the EB-5 visa program are set to experience a significant reduction in wait times.
The latest data from the United States Department of State, as revealed in the January 2024 Visa Bulletin, paints an optimistic picture for Indian applicants eagerly anticipating the outcome of their EB-5 visa applications.
This notable progress signifies a transformative shift in the immigration landscape, offering a faster track to permanent residency for those navigating the intricate EB-5 process.
Accelerated Final Action Date for India
The latest Visa Bulletin discloses a noteworthy shift in the final action date for Indian applicants, jumping ahead by two years, from December 2018 to December 2020.
This positive change signifies a significant stride in reducing the backlog and offers newfound hope to Indian families and individuals eagerly awaiting approval for their US Golden visa applications.
Early Approval Prospects for EB-5 Backlog
For those in the EB-5 backlog, the January 2024 Visa Bulletin brings optimistic news. The updated data indicates a positive trend for existing EB-5 applicants from India, hinting at expedited processing times.
The Visa Bulletin serves as a valuable roadmap, enabling applicants to monitor progress and estimate potential wait times, thereby providing reassurance to those navigating the intricate EB-5 application process.
Also Read: US Citizenship: EB-5 Visa Fees Proposed to Increase By 200%
Priority Date Surge Indicates Visa Distribution Progress
The substantial increase in India’s priority date, shifting from December 15, 2018, to December 1, 2020, underscores significant progress in visa distribution for Indian EB-5 applicants.
Both “Final Action Dates” and “Dates for Filing Applications” play a crucial role in guiding immigrant visa applicants, indicating when they should prepare and submit the necessary documentation to the National Visa Center.
Accessible EB-5 Visas for Early Applicants
Applicants who submitted their petitions before December 1, 2020, are now eligible for approval, gaining access to available EB-5 visas.
This positive development aligns with the ongoing efforts to streamline the immigration process and fulfil the aspirations of Indian families and individuals in the EB-5 backlog.
Key Figures and Limits in FY 2024
The fiscal year 2024 sets the limit for family-sponsored preference immigrants at 226,000, with the worldwide level for annual employment-based preference immigrants standing at a minimum of 140,000.
The per-country limit for preference immigrants is capped at 7% of the total annual family-sponsored and employment-based preference limits, amounting to 25,620.
Also Read: EB-5 Visa vs. H-1B Visa: Which One Is Right for You?
Understanding the EB-5 Program
The EB-5 program, often referred to as the US golden visa, provides a unique pathway for overseas investors and their families to attain permanent residency and Green Cards in the United States.
Eligibility for the EB-5 program requires applicants to invest a minimum of $800,000 in a government-approved real estate project in the US, creating at least ten full-time jobs for US citizens.
As the EB-5 visa processing gains momentum, this opportunity becomes increasingly accessible for Indian nationals seeking to make the United States their new home.
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