The EB-5 visa program remains appealing to mainland Chinese investors.
Mainland Chinese investors continue to dominate the EB-5 visa program, accounting for the largest share of EB-5 investors in 2023, according to data from the U.S. Department of State. Out of a total of 8,354 EB-5 visas issued that year, 5,684 were granted to Mainland Chinese applicants.
One reason for a continuously strong Chinese demand for these visas would be the EB-5 Reform and Integrity Act of 2022 (the RIA) and the end of China’s COVID-19 lockdown and policies.
The new regulations have created significant benefits for investors from mainland China by introducing new visa categories with no backlog. The new set-aside categories include projects in rural and high-unemployment areas, and special infrastructure projects. The ability to file for EB-5 while on another visa in the United States has also brough new opportunities for Chinese investors.
EB-5 statistics for Mainland China: highs and lows
The trend for EB-5 visas issued to Chinese investors from Mainland China has seen several highs and lows over the last two decades.
Between 2014 and 2019, EB-5 visas for Chinese investors showed a steady decline, although it was on the high side compared to the previous decade.
Despite this decline, between 2010 and 2019, high-net-worth individuals from China obtained more than 70% of the total 81,125 investor visas issued by the US, according to research.
The highest number of EB-5 visas for regional centers was issued in 2014 (8,966), while the most direct EB-5 investment visas were issued to Chinese investors from mainland China in 2016 (510).
Retrogression situation for Mainland China
With the new EB-5 regulations, new Chinese investors can still apply for the EB-5 visa without retrogression if they choose to invest in rural or high-unemployment areas and special infrastructure projects.
However, the visa backlog issue for Chinese investors remains an issue only for those who do not use the new set-aside visa categories. For Unreserved EB-5 visas, the May 2025 Visa Bulletin reported that Chinese EB-5 investors’ final action dates have retrogressed again. The date is now January 22, 2014. Filing dates for them remain October 1, 2016.
The Filing Date is the calendar day when applicants can submit their EB-5 forms to USCIS. The Final Action Date is the date by which USCIS can issue a visa to approved applicants who have completed all processing steps.
Additionally, as of April 2025, USCIS estimates that processing times for Chinese investors are currently averaging 90 months. If including petition and visa processing times, as well as other variables involved in the EB-5 process, a Chinese applicant could face a waiting time of approximately 7.5 years, unless using the new set-aside visa categories.
Also, China’s recent accession to the Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents, also referred to as Apostille Convention, could help streamline EB-5 processing further by allowing quicker consular processing once the I-526E application is adjudicated and reducing the number of days for authenticating documents issued by public authorities. Currently, the Apostille Convention is in force only in Hong Kong.
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