Some comments on the recent EB5 data

USCIS released some interesting data on Eb5 in September, 2011.  According to USCIS, from 2005 to June 30, 2011, there are 8442 I-526 applications(EB-5 application) filed with the USCIS.  Out of these 8442 applications, 5258 were approved and 3184 were denied.  The approval rate is about 62%.  From 2005 through 9/12/2011, the same(just two months longer) period,  there were total of 12,877 EB5 visas issued.  That means each EB5 applicant brings about 1.45 family members to the US.  Again for the same period, there were 3668 I-829 petitions filed(petition to remove the condition).  Out of these 3668 petitions, USCIS adjudicated 2051 petitions.  1617 were approved and 434 were denied(that means from 2005 to date, there are only 1617 people actually received permanent green card).  This number is discouraging but somehow misleading in that from 2005 to 2008, there were few I-526 applications.  The increase started in 2008 and 2009.  Most EB5 immigrants received their conditional green cards in 2009 or 2010 started to file I-829 applications in 2011.   The approval rate is about 78.8% and the denial rate is about 21.2%.  As of July1, 2011, there are still 1617 I-829s pending at the USCIS.

I-526 filings have seen increase since 2011.  Approximate 870 I-526 applications are filed each quarter.  If the filings remain the same pace, there will be about 3500 I-526s filed in 2011.  If all the I-526 applications are approved and if we assume each applicant brings 1.45 family members to the US, total EB5 visa usage will be about 8757.  That is not too far from the maximum 10,000 EB5 visa limit each year.  Of course not all I526 would be approved.  The point is that with the increase filings of I-526s, it is possible we will see the demand for EB5 visas outpace the 10,000 limit within the next 2-3 years.

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