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John Burson  edited Friday, August 2, 2024 |
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Top 10 EB-5 Investors Markets & Visa Bulletin January 2024
The EB-5 visa remains the premier choice for residency-by-investment, attracting those aspiring to live the American Dream.AD
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Key points:
- Significant Progress for Indian Applicants
The final action date for Indian applicants in the "unreserved" EB-5 category will advance by 717 days in January 2024. This substantial progress is notable and represents the most significant movement since fiscal year 2020. - Final Action Date for India
The final action date for Indian applicants is December 1, 2020. - Advancement for Chinese-born Applicants
Chinese-born applicants will also experience progress, with a 68-day advancement in the final action date, which will be placed on December 8, 2015. - Dates for Filing Applications
In January 2024, the dates for filing applications will remain unchanged from the December Visa Bulletin. For Chinese applicants, the date is January 1, 2017. For Indian nationals, the date remains April 1, 2022. - Reserved EB-5 Categories
All countries within the "reserved" EB-5 categories remain "current" in the coming month. - Notable Movement Since Fiscal Year 2020
The advancements in final action dates for Indian and Chinese applicants are highlighted as significant, particularly given the notable movement since the fiscal year 2020.
Visa Bulletin For January 2024
- Procedures for determining dates for Consular officers to report qualified visa applicants while USCIS handles the adjustment of status applicants. Allocations prioritize reported priority dates chronologically until December 4th. If demand exceeds limits, oversubscribed categories are identified, with the final action date set at the priority date of the first unaccommodated applicant. Retrogression may occur, and supplemental number requests will be accepted only within the updated final action date. Annual limits trigger an "unavailable" status for the affected preference category, halting a further number of requests.
- The fiscal year 2024 family-sponsored preference immigrant limit under Section 201 of the Immigration and Nationality Act is 226,000. The annual worldwide limit for employment-based preference immigrants is a minimum of 140,000. Section 202 dictates a per-country limit of 7% of annual family and employment-based preference limits, equaling 25,620. The dependent area limit is also set at 2%, totaling 7,320.
- INA Section 203(e) dictates that family-sponsored and employment-based preference visas should be issued in the order of petition filing. Section 203(d) ensures spouses and children of preference immigrants share the same status and consideration order when accompanying or following the principal. Section 202(e) visa prorating provisions apply when visa issuances surpass per-country limits. Over-subscribed areas include mainland-born China, India, Mexico, and the Philippines.
- Section 203(a) of the INA prescribes preference classes for the allotment of Family-sponsored immigrant visas as follows:
The Top 10 EB-5 Investor Markets for 2024
The EB-5 visa remains the premier choice for residency-by-investment, attracting those aspiring to live the American Dream.
According to an analysis of the EB-5 Investors Markets, only 2,023 EB-5 visas were issued globally in 2021, a low figure attributed to the pandemic. Mainland China is the largest market, with 975 visas. The 2022 State Department visa report solidifies this trend, revealing China's sustained dominance with 6,125 EB-5 visas issued—surpassing the combined total of the following nine countries.
Overall, 2022 marked a rebound from a post-pandemic slowdown, reflected in the significant increase to 10,885 total EB-5 visas issued. Asian markets continue to dominate the top rankings for EB-5 regional center investments.
Top EB5 Investor visa markets worldwide in 2024, Asia, and beyond.
| Country | Eb-5 Visas | Details |
| China | 6,125 |
China has consistently dominated the EB-5 program, resulting in a persistent backlog for Chinese investors. The latest final action date was set on July 8, 2015, in the March 2023 visa bulletin. Despite this backlog, Chinese interest in EB-5 visas remains high and is expected to grow further as investors seek security amid uncertainty. In 2022, approximately 10,800 wealthy Chinese individuals left China. China is one of the Best Countries for EB-5 investors, with many choosing EB-5, making it a leading choice among residency-by-investment programs. |
| India | 1,381 |
India has become a thriving market for EB-5 investors, evidenced by the previous backlog and the surge in applications, from 47 visas in 2021 to 1,381 in the following year. The increase is attributed to eased COVID-19 travel restrictions and the impact of the EB-5 Reform and Integrity Act of 2022, allowing Indians in the U.S. to concurrently file applications and adjust their visas to EB-5, reinforcing India as the second-largest Asian immigrant group to the U.S., following China. |
| Vietnam | 815 |
In EB-5 investor visa countries, Vietnam ranks as the third-largest EB-5 market, with 815 visas issued in 2022, a modest increase from 694 in 2021. The less dramatic rebound is attributed to the cleared backlog for Vietnamese applicants and the flourishing economy, potentially reducing interest in EB-5 visas as economic conditions improve. |
| South Korea | 396 |
South Korea consistently ranks in the top 5 EB-5 markets, with 396 visas issued in 2022, up from 43 in 2021. The upward trend is anticipated to continue, fueled by the increasing number of wealthy South Koreans, reaching one million high-net-worth individuals in 2020. Additionally, South Korea's status as an E-2 treaty country enhances the attractiveness and ease of applying for EB-5 visas for its nationals. |
| Brazil | 336 |
Brazil emerged as the sole non-Asian country in the top 5 EB-5 markets for 2022, experiencing significant growth from 5 visas in 2021 to an impressive 336 in 2022. The surge is attributed to Brazil's political instability, particularly heightened tensions surrounding the October 2022 election, prompting investors to pursue residency options in more stable markets such as the U.S. |
| Taiwan | 225 |
Despite its small size, Taiwan stands out as one of the significant EB-5 investor markets, with visas increasing from 94 in 2021 to 255 in 2022. The post-pandemic rebound and escalating tensions with China may drive Taiwanese investors to explore alternative opportunities, with EB-5 visas emerging as a primary choice. |
| Mexico | 164 |
Due to its economic size and proximity to the U.S., Mexico has historically been a crucial EB-5 market with deep cultural ties. In 2022, concerns about the economy under the current administration post-COVID-19 led to a surge in wealthy Mexicans seeking EB-5 visas, reaching 164, a significant increase from the three issued in 2021. |
| Hong Kong | 142 |
Hong Kong citizens, who were issued only eight EB-5 visas in 2021 amid political unrest and strict COVID-19 measures, are increasingly exploring visa options to mitigate future uncertainties. The number of EB-5 visas granted to Hong Kong citizens has risen to 142; further increases are expected in the coming years. |
| Canada | 121 |
Canada, a significant EB-5 market despite visa-free access to the U.S., sees increased interest from investors seeking long-term residency. In 2021, one Canadian investor obtained an EB-5 visa, while in 2022, witnessed substantial growth, with 121 visas granted. This highlights the preference among Canadian investors for U.S. residency rights. |
| Venezuela | 103 |
Venezuelans, facing economic instability and soaring inflation, sought to safeguard their funds by obtaining residency rights through the EB-5 program. After two visas were issued in 2021, 103 Venezuelans secured EB-5 visas in 2022, highlighting the program's appeal as an alternative investment for those able to afford it. |
Conclusion
Navigating the EB-5 visa process requires staying informed about the latest advancements and trends in visa allocations, especially given the recent significant progress for Indian and Chinese applicants. The substantial advancements in final action dates for these applicants underscore the dynamic nature of the EB-5 program. For Indian applicants, the unprecedented progress of 717 days is the most notable movement since the fiscal year 2020, while Chinese applicants also see a positive shift with a 68-day advancement.
Understanding the complexities of these movements and their implications is crucial for prospective EB-5 investors. The unchanged filing application dates and the current status of all countries within the "reserved" EB-5 categories provide a stable foundation for planning your investment and application strategy.
Moreover, analyzing the top EB-5 investor markets highlights the sustained interest and growth in the program, particularly from Asian countries like China, India, Vietnam, and South Korea. Brazil, Taiwan, Mexico, Hong Kong, Canada, and Venezuela also show significant participation, driven by various economic and political factors.
As you consider your path to U.S. residency through the EB-5 program, choosing the proper legal guidance is paramount. An experienced EB-5 attorney can provide the necessary support and expertise to navigate the intricate requirements, ensuring a smoother and more secure journey.
Visit paperfree.com/en/eb5 for personalized assistance and more detailed information on the EB-5 visa process, including the latest updates and strategic advice. With the right resources and professional guidance, you can confidently take the following steps toward achieving your American Dream.
