USCIS begins approving I-526E petitions from the EB-5 Program in less than three months
The United States Citizenship and Immigration Services has begun an unprecedented process in relation to the EB-5 Program, by beginning to approve I-526E petitions in less than 3 months, which allow you to request immigrant status from USCIS.
U.S. Citizenship and Immigration Services’ (USCIS) streamlining of EB-5 I-526E petition processing is transforming the experience for investors and visa applicants.
Since July of this year, processing times have seen notable improvements, with one case recently receiving approval in less than three months. We will explore in detail how this change is positively impacting the investment community and immigration professionals.
1. Processing times: a positive evolution
The positive evolution in processing times, which began in July with the reduction to less than a year, has reached a high point with the approval in less than three months of an EB-5 I-526E petition.
This development has generated widespread enthusiasm and raised the expectations of investors and their advisors about the efficiency of USCIS in processing these petitions.
2. Effective strategies for detailed documentation
The case that received approval in less than three months highlights the importance of detailed and well-crafted documentation.
Mitch Wexler, a partner at Fragomen, Del Rey, Bernsen & Loewy, LLP, suggests that meticulous documentation, especially regarding the investor’s source of funds, was key to the speed of the process.
This observation underscores the importance of specialized legal advice and detailed planning when preparing EB-5 applications.
Additionally, Wexler notes that as USCIS is becoming more demanding on source of funds (SOF) documentation, the extra effort made early on proved critical.
This rigorous and transparent approach not only speeds up the process, but also strengthens applicants’ standing in the face of increased USCIS scrutiny.
3. Priority Processing and Positive Results
The introduction of “priority awards” appears to be playing a crucial role in speeding up the process. Cases filed by Joseph Barnett, EB-5 attorney and partner at WR Immigration, have been approved in just four and a half months.
This priority processing approach is especially valuable for those looking for faster options and greater control compared to other methods of obtaining green cards.
Barnett shares that the approved case was filed by an Indian citizen in the US who was facing delays in EB-2/EB-3 processing and was seeking a faster alternative through the EB-5 program.
This testimony highlights how expedited processing of EB-5 I-526E petitions offers an attractive and efficient option for those seeking to expedite their immigration process.
4. The Importance of the EB-5 Integrity and Reform Act of 2022 (RIA)
The EB-5 Reform and Integrity Act of 2022 (RIA) has emerged as a driving factor in streamlining processing. By providing priority processing for investments in rural areas, the RIA has paved the way for faster processing times.
Barnett notes that, to date, they have received more than ten approvals based on investments in rural areas, confirming the positive impact of this legislation on the speed of the process.
5. No National Differences in Approvals
Andy J. Semotiuk, a U.S. and Canadian immigration attorney at Pace Law Firm, points out that there do not appear to be any national differences in approvals. Premium processing allows applicants, regardless of their background, to expedite their cases.
Furthermore, the priority date and submission of applications after March 15, 2022, according to the RIA, are crucial factors for the eligibility of the 20% annual visa reservation and priority processing.
6. Warning about Increased Requests
Although the current speed of processing is encouraging, Andy J. Semotiuk warns that as requests increase, processing times are likely to become longer.
However, over the next few months, it appears that EB-5 applicants who opt for rural projects have the best chance of obtaining expedited processing results. Staying informed and making strategic decisions in this dynamic environment is essential to maximizing opportunities.
So the shift toward faster processing times for EB-5 I-526E petitions represents a positive development for the investment community and the industry as a whole.
The combination of effective documentation strategies, RIA influence, and priority adjudication implementation is paving the way for a more efficient and timely experience.
Although one should be alert to possible increases in applications, the current trend suggests that rural projects will continue to be attractive to investors.
The constant evolution of immigration processes highlights the importance of staying informed and adapting to emerging opportunities in the EB-5 landscape.
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With a presence in the real estate sector in the states of Florida, Texas and New York, BAI Capital specializes in generating value from the acquisition of land to the development of mixed-use projects, such as residences for the elderly, student residences, multifamily buildings. for rentals and mixed use, including condos and retail.
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You already found out that USCIS began approving I-526E petitions for the EB-5 Program in less than 3 months. If you are looking to protect your capital from inflation through investments with returns in dollars, or invest in projects that qualify for the EB-5 investor visa to get a Green Card, complete our form and an agent will contact you.
