In the September visa bulletin, the last month of the 2024 fiscal year, the Department of State (DoS) has maintained the same filing and final action dates for EB-5 investors since February.
The dates remain current for all subcategories of EB-5 applications for foreign nationals from all countries except India and Mainland China, meaning there are no backlogs associated with their nationalities and categories.
However, specific dates for EB-5 applications in the Unreserved category apply for India and Mainland China. For Indian investors, the dates are Dec. 1, 2020 (filing) and Dec. 15, 2015 (final action), while for Chinese EB-5 investors, the dates are Apr. 1, 2022 (filing) and Jan. 1, 2017 (final action). These calendar days have not changed since February.
Employment-based preference categories may reach annual limit in September
In this visa bulletin, the DoS also cautioned about the possibility of employment-based visas reaching their annual limit due to a steady increase in USCIS and the Department’s demand patterns.
“As a result, most employment-based preference category limits for FY 2024 are expected to be reached during September, if not sooner. If at any time an annual limit were reached, it would be necessary to immediately make the preference category “unavailable”, and no further requests for numbers would be honored.” The 2024 fiscal year ends on Sept. 30, 2024.
Therefore, if the limit number of visas is reached, any applications that need to be processed or allocated visa numbers by the end of September will be queued for processing in the next fiscal year (FY2025), which begins on Oct. 1.
EB-3 dates retrogression finally occurs
For the EB-3 visa category, the DoS retrogressed the final action dates for the Rest of the World, Mexico, and the Philippines, and the final action dates of the Employment Third Preference Other Worker (EW) category for the Rest of the World and Mexico. In the July and August visa bulletin, the Department cautioned investors that retrogressing these dates was necessary if the worldwide high demand for this visa continued.
“The issuance totals in these categories are rapidly approaching the annual limit for FY-2024, necessitating this slowdown of issuance rates. It is anticipated that the final action dates will advance in October 2024; however, date movement will depend on worldwide demand for EB-3 and EW visas and the estimated FY-2025 category limit,” said the Department in the September visa bulletin.
Visa retrogression happens when more people apply for a visa in a particular category or country than there are visas available for that month, usually toward the end of the fiscal year (Sept. 30). In this situation, the cutoff dates move backward from the current date, which could potentially cause delays for applicants even if their application is approved in the meantime.
Why is the Visa Bulletin important for EB-5 investors?
The Visa Bulletin provides essential information about immigrant visa availability, including filing and final action dates. For EB-5 investor visas, Chart B shows the filing date for submitting forms to the NVC, while Chart A indicates the final action date for visa issuance. These dates are crucial for the processing of immigrant visas and the adjustment of status.
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