Ten Facts about EB-5 Immigrant Investor Fiscal Year 2015 Numbers
- 6,575 petitions representing over $3.2billion dollars of investments were filed in the last 3 months of FY 2015 from July1, 2015-September 30, 2015.
- 17,367 petitions representing over $8.68 billion dollars of investments were pending as of September 30, 2015.
- A total of 8,756 petitions were approved in FY 2015 versus 4,925 representing an increase of almost twice as many filings. In 2008 there were 642 petitions approved.
- On the positive side only 1,051 I-526 petitions were denied representing an approval rate of 88%.
- In FY2014, 1,169 cases were denied and only 4,925 approved so the number of case denied dropped by almost 100%.
- Only 1,067 I-829 final applications were approved in FY 2015, which is over 50% less than FY 2014 when 1,603 cases were approved.
- On the extremely positive side, only 11 I-829 cases were denied in FY2015 and 1,067 approved representing a 99% approval rate.
- As of the end of FY 2015, there were 4,049 I-829 cases pending, almost twice as many as in FY 2014 which had 2,075.
- USCIS adjudication times continue to increase with I-526 average processing times reaching 14.4 months; I-829 reaching 15.4 months and I-924 at 11.6 months.
- The Regional Center program presently sunsets December 11, 2015.
Comment: The billions of dollars brought into the U.S. and thousands of jobs created without costing tax payers one penny, is indisputable. Can Congress get its act together and simply extend the program and stop playing political football trying to decide whether this money goes to rural or urban projects? Trying to fleece immigrants by increasing the amount to $1.2 million and $800,000 for targeted employment/rural areas isnít necessary. Pass a multi-year extension and address the many critical problems our country faces please. Worse still, trying to increase the minimum investment amount retroactively and destroy billions of dollars of existing projects is just plain bad policy. We let in almost 1 million immigrants annually, including 50,000 randomly by lottery-why canít we agree to admit 3,500-4,000 immigrant investor families. Be bold Congress and increase the EB-5 quota to 10,000 families, please.
This post originally appeared on Wolfsdorf Immigration Law Group. Reprinted with permission.
Bernard Wolfsdorf is a recent past President of AILA and Managing Partner of the top-rated Wolfsdorf Rosenthal LLP with offices in Los Angeles and New York. With 21 lawyers and 60 professionals, the firm is known worldwide for its excellence in providing value and top-quality global immigration representation. Wolfsdorf Rosenthal LLP has been described by Chambers USA as "a force to be reckoned with."