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EB-5 China Visa Availability Update




by:
FosterQuan LLP - Houston Office

 
August 28, 2014

Previously published on August 27, 2014

The U.S. Department of State announced that as of August 23, 2014, EB-5 immigrant visa numbers for Chinese nationals are unavailable for the remainder of Fiscal Year 2014. The maximum level of immigrant visa numbers allocated for Chinese EB-5 applicants has been reached until October 1, 2014.

The Department of State will continue to accept applications for visa interviews for Chinese nationals in the EB-5 category, but the applications will not be adjudicated or approved until October 1, 2014. Similarly, U.S. Citizenship & Immigration Services (USCIS) will continue to accept applications for Chinese nationals in the EB-5 category to adjust status to permanent residence from within the U.S., but will not begin adjudicating the applications until immigrant visa numbers become available again in the new fiscal year, which begins on October 1, 2014. Those individuals whose immigrant visa interviews have already been scheduled by a U.S. consular post will not be affected by this announcement, as they have already been allotted visa numbers.

There is a strong chance that the EB-5 visa allotment will run out shortly after the first quarter of 2015 and cause further backlogs. It has been reported that the Obama Administration is reviewing possible executive action that could address the annual numerical limitations for EB-5 immigrant visas, but these reports cannot be relied upon until executive or legislative action is taken.

 

The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 

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