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Could EB-5 investors from South Korea face the visa backlog anytime soon?

I am a South Korean national who has filed an I-526 in October 2018. Recently I learned from the news that due to the upcoming changes to the program, the number of South Korean EB-5 applicants has skyrocketed this year. I am wondering if this would impact my waiting time for a green card.

Answers

  • Avatar

    Lynne Feldman

    Immigration Attorney
    Answered on

    There is no way to know, but I have not heard of a backlog for South Koreans yet.

  • Avatar

    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    It may happen but as of now, the situation is that there is no retrogression for South Korea.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    It may. The Visa Bulletin gets previewed toward the end of the month for the following month. Just something to keep an eye on. I have not heard that South Korea is on the horizon for retrogression though.

  • Avatar

    Dale Schwartz

    Immigration Attorney
    Answered on

    It might get behind. The sooner you apply, the better off you will be. After Nov. 21, 2019, the minimum investment goes up from $500,000 to $900,000. It almost too late to start applying unless the investment is in a regional center who has all the papers prepared and ready to copy and file.

  • Avatar

    Daniel P Hanlon

    Immigration Attorney
    Answered on

    It is true that many more investors raced to file petitions before the increased investment requirements take effect this November. The increases, however, will probably cause a decline in the number of new petitions filed, so any backlog experienced by South Korean investors may only be short-term.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    The countries/areas on the cusp of retrogression are Taiwan, South Korea and Brazil. Investors from these regions may suffer only minor quota backlogs barring a major shift in demand due to long processing times for I-526 adjudication. These investors will most likely not notice any delays in their processing should the demand remains steady.

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    Charles Foster

    Immigration Attorney
    Answered on

    No, any petition filed after your filing date would not impact the adjudication of your petition timewise or quotawise.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    Charles Oppenheim, the most reliable source from the U.S. Department of State, has estimated that recently filed Korean cases could take about three years. Since processing is now taking two to three years anyway, we do not see serious problems unless there is a child about to turn 21 before filing the I-526 petition.

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