As part of an ongoing series of monthly updates provided to the American Immigration Lawyers Association, the chief of the Visa Control and Reporting Division of the U.S. Department of State, Charles Oppenheim, reported that the EB-5 immigrant visa category could retrogress as early as May 2015. It appears retrogression of the EB-5 immigrant visa category will happen during the U.S. government’s 2014-2015 fiscal year, the only questions are when such retrogression will occur and what impact it will have. This is consistent with our prior information.
As we have stated previously, EB-5 investors should continue to file I-526 Petitions in the regular course of business because retrogression will have no effect on the adjudication of I-526 Petitions by the U.S. Citizenship & Immigration Services. Furthermore, if the EB-5 immigrant visa category retrogresses for mainland-Chinese born EB-5 investors, the State Department will create a waiting list based on the date an I-526 Petition was filed. Accordingly, EB-5 investors who have filed their I-526 Petitions prior to other EB-5 investors will be closer to the front of the EB-5 immigrant visa line.