August Visa Bulletin Announced: Final Action Dates for EB-5 Investors

1. August Visa Bulletin Announced: Final Action Dates for EB-5 Investors If you’re looking to invest in the US to secure permanent residency, ask your lawyer about the EB-5 Immigrant Investor Program, under which you may qualify for a green card by investing at least $800,000 in a new commercial enterprise that creates ten full-time jobs for American workers. Your spouse and unmarried children under 21 can also be included in the application. The EB-5 program is designed to promote economic growth in the US via foreign investment. To find out if you’re eligible, consult with the best immigration lawyer in New York here at Berd & Klauss, PLLC. We can explain the requirements to you, along with the most up-to-date guidelines so you can prepare a successful EB-5 investment strategy. In this blog, we are also sharing important updates you need to know if you’re applying for the EB-5 or are currently waiting for your green card. The US Department of State’s August 2024 Visa Bulletin provides updated information about wait times for becoming a lawful permanent resident. Understanding the Visa Bulletin The Department of State's Visa Bulletin outlines the availability of green cards each month. It also shows when applicants can move forward with their green card process based on the number of pending applications. Here are some key terms to understand: • Priority date - This is the date your green card application was initially filed. It's your place in line. • Backlog - Some countries have more applicants than available green cards, creating a backlog. This can cause wait times to increase or even go backward (called retrogression). • Wait times - The Visa Bulletin gives estimates, but exact wait times vary based on your country and application category. Tracking the bulletin over time can help you understand potential wait periods. There are two key dates to take note of: (1) Dates for Filing and (2) Final Action Dates.

2. If your priority date is earlier than the Dates for Filing, you can generally start the next step in your application. However, the Final Action Dates indicate when your application might be processed. Once your priority date becomes current (matching the Dates for Filing), you can proceed with either an Adjustment of Status (if you're in the US) or an Immigrant Visa application (if you're abroad). Dates for EB-5 investors The August Visa Bulletin indicates the following priority dates for EB-5 investors: • China: Applicants must have a priority date of January 1, 2017 or earlier. • Mexico: There is currently no wait time for Mexican EB-5 investors. • India: Applicants must have a priority date of April 1, 2022 or earlier. • Philippines: There is currently no wait time for Filipino EB-5 investors. Note: These dates have not changed from the previous month's Visa Bulletin. EB-5 visa allocation The EB-5 Immigrant Investor Program contributes 7.1% to global employment creation. To focus investment, a portion of these visas is reserved for specific areas: • 32% of EB-5 visas are allocated to targeted employment areas • 10% for investments in high-unemployment areas • 2% for infrastructure projects • 20% for rural area investments The remaining 68% of EB-5 visas are available to investors in other areas. Why the Visa Bulletin exists Congress sets an annual cap on the number of green cards issued each year. However, due to the high demand for permanent residency, this cap often exceeds the number of available green cards and creates significant backlogs. The Visa Bulletin — which tracks the progress of green card applications and indicates when applicants can proceed based on their priority date — was implemented to manage this demand and ensure fairness. The Visa Bulletin is an important resource for anyone seeking a green card — including EB-5 investors — because it provides monthly updates on visa availability and helps applicants understand their position in the application queue. It is extremely useful whether you are planning to apply for a green card or your

3. application is already in progress. You can better estimate your wait time by tracking your position in the queue through the bulletin. This information is valuable for making informed decisions, especially for EB-5 investors planning their investment timeline. The best immigration lawyer in New York can take the guesswork out of reading the monthly Visa Bulletin. However, it’s still good practice to update yourself every month to know your status and save time. If you have any questions, you can always consult an immigration attorney here at Berd & Klauss, PLLC. As an investor, it helps to know the progress of your application so you can time your investments and come up with contingency plans if things don’t go your way. Call 212-461-7152 to speak with thebest immigration lawyer in New York hereat Berd & Klauss, PLLC. We work closely with EB-5 investors who may need help with their application.