Important Update for Exeo EB-5 Clients: FY 2024 Visa Issuance
Dear Clients,
We wish to inform you that USCIS and the US State Department have recently announced the issuance of all legally available visas in the Employment-Based Fifth Preference (EB-5) unreserved category for the fiscal year (FY) 2024. This means that all available EB-5 unreserved visas for FY 2024 have been allocated, and as a result, embassies and consulates will not be issuing visas in these categories for the remainder of the fiscal year, meaning for a few weeks.
However, please be assured that the annual visa limits will reset with the start of the new fiscal year (FY 2025) on October 1, 2024. At that point, embassies and consulates will be able to resume issuing immigrant visas in these categories to qualified applicants.
As a reminder, approximately 140,000 immigrant visas are available each fiscal year for employment-based immigrant visas, including the EB-1, EB-2, EB-3, EB-4, and EB-5 categories. Of these, about 10,000 are allocated to the EB-5 investor visa program. Please note that these visas are subject to per-country quotas. The Immigration and Nationality Act sets the annual limit for EB-5 visas at 7.1% of the worldwide employment limit, with 68% of these available for unreserved visa categories (C5, T5, I5, R5, RU, NU). Additionally, the EB-5 Reform and Integrity Act of 2022 has made unused EB-5 reserved visas from FY 2022 available in the EB-5 unreserved categories for FY 2024.
This development is a positive indication of the increasing processing capacity at USCIS and the US State Department within the EB-5 program. Visa issuance in the EB-5 unreserved category will resume on October 1, 2024.
For more detailed information, please visit the State Department’s website by clicking on the link below:
State Department Website
Best regards,
THE EXEO TEAM |
