The U.S. Citizenship and Immigration Services (USCIS) recently released statistics on the EB-5 Immigrant Investor Program. The USCIS indicated that it has experienced an approximately 30% increase in the number of petitions received from Fiscal Year 2010 to Fiscal Year 2011 in the EB-5 program. Of the petitions received, the approval rate in the EB-5 program decreased from 89% in Fiscal Year 2010 to 81% in Fiscal Year 2011. Additionally, the number of EB-5 Regional Centers significantly increased from 114 in Fiscal Year 2010 to 174 in Fiscal Year 2011. However, statistics indicate that USCIS is increasing its scrutiny of Regional Centers in the current Fiscal Year. Of the 60 Regional Center applications that were submitted in the first quarter of Fiscal Year 2012, only 14 were approved and 22 were denied. As the USCIS begins to implement a recertification process for Regional Centers in the future, it is assumed that some of the currently approved Regional Centers may have their designation revoked if they cannot evidence that they are currently complying with the terms of the EB-5 Regional Center program.
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USCIS releases statistics in the EB-5 Immigrant Investor Program
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Legal Department Administrator
Jovian Capital Corporation