EB-5 Investor Visa Program Processing Time In The US

For investors and entrepreneurs, the EB-5 visa under the EB-5 investor visa program is among the most powerful green cards available. An EB-5 visa allows you, your spouse, and your children under the age of 21 to obtain a green card. Although the EB-5 visa was introduced in 1990, it has only recently become popular.

In fact, the highest number of applications were filed between 2017 and 2019. The EB-5 investor visa program processing time (also known as the “processing time”) is the amount of time it takes an investor to invest in an EB-5 qualifying project and become an LPR (legal permanent resident) with green card status.

The processing time for an I-526E immigrant petition by an EB-5 regional center investor (i.e., initial immigrant investor petition) is between 6 to 12 months. The total EB-5 time for an investor in the United States applying for an EB-5 visa is shorter than an EB-5 investor applying outside of the United States because of parallel filing opportunities.

As of October 2023, under the new EB-5 investor visa program (Reform & Integrity Act of 2022), there will be no more EB-5 visa availability wait times for any country of origin. As with all visa types, the processing time for EB 5 varies. It depends on the number of pending applications and is also impacted by the number of new applications submitted each year.

In this step-by-step guide, we will outline what you should know about the processing time of the EB-5 visa application.

What is the EB-5 visa?

An EB-5 visa is a type of immigrant visa designed for investors. An EB-5 visa is essentially a green card type visa that can be obtained by making a $800,000 or $1,050,000 investment in a US company. The investment must result in the creation of 10 full-time US jobs.

To get an EB-5 visa under the EB-5 investor visa program, you need to invest in a new commercial enterprise. A new commercial business is a legal, for-profit corporation created after November 29, 1990. Your investment must also be made in good faith.

You must also have an at-risk investment. This means you must have funds that are actually invested in the business, not just sitting in your business bank account.

The EB-5 visa application timeline

The total processing time for an EB-5 visa is between 1 and 3 years. It begins with filing the I-526E (the EB-5 application form) and ends with the approval of the I-829 Form. The processing time depends on the number of applications/forms involved.

The EB-5 timeline under the EB-5 investor visa program is affected by the applicant’s location at the time of the application. Each of the different stages takes an estimated time as follows:

1. Investment funds in an EB-5 project.

The average time to organize your source of funds paperwork and invest in an EB-5 project is about 2 months. Your EB-5 capital investment must be made from legal sources, so you must provide enough evidence to demonstrate the legitimacy of your investment.

At this stage, it is a good idea to work with immigration attorneys who specialize in EB-5 visas. They will help you write a detailed source of funds report and prepare it for your capital investment. Once you have prepared your capital investment documentation, you need to select the EB-5 project that best fits your needs.

Before this, you must do due diligence on each EB-5 visa project to ensure you invest in one that meets USCIS requirements. Once your capital is selected for an EB-5 project under the EB-5 investor visa program, your capital is deposited into the EB-5 escrow account. Then, you move on to the next step, filing your EB-5 immigrant petition.

2. The petition.

The next step in applying for an EB-5 visa is to fill out Form I-526, also known as the “immigrant petition by alien entrepreneur.” The EB-5 process requires you to become a “conditional permanent resident” for two years before applying for an unconditional permanent resident.

Once you file your I-526, you can either adjust your status or apply for your EB-5 visa. The time it takes to process your case depends on its complexity and the number of people in the service center at any given time. The average wait time ranges from 31 to 50 months, but it can be longer or shorter.

3. Adjustments of status (AOS) or consular processing.

Once your form I-526 has been approved, you have two options: You can adjust your status or request an EB-5 visa from a consulate or embassy overseas.

4. AOS

A status adjustment changes your status in the United States from that of a non-immigrant to an immigrant. To make an adjustment of status, you must be a legal permanent resident of the United States in one of the known non-immigrant statuses. A form I-485 is filed to process an adjustment of status, and it typically takes 6-8 months to process.

Immigrant investors from non-backlogged countries with a valid nonimmigrant status in the US can file their I-485/I-526E petition together. This will shorten the EB-5 visa processing time under the EB-5 investor visa program. You are qualified for an EAD and travel document so you can work and travel while your adjustment of status for a US investor visa is being decided.

5. Consular processing

Consular processing refers to applying for an EB-5 visa from an overseas consulate or embassy. If you are not legally present in the United States, you will usually undergo consular processing. For consular processing, you will first need to fill out an online form, DS-260.

The consulate or embassy will review the form DS-260 and schedule your visa interview. Once your EB-5 visa interview is completed, you should expect to receive your EB-5 visa within a week. Consular processing under the EB-5 investor visa program typically takes around 6 to 8 months.

Once your adjustment of status is granted or you arrive in the country on an EB-5 visa, you are considered a conditional resident for two years. At the moment, there is a visa retrogression for EB-5 investors who are born in Mainland China.

This retrogression means there is so much demand for EB5 visas from investors born in Mainland China that there is an extra waiting period after the approval of form I-526 before an investor can file an EB-5 visa application or apply for adjusted status. The additional waiting period for EB-5 applicants born in Mainland China is about 3.5 years.

6. The conditional permanent residency.

You become a “conditional permanent resident” for a period of two years after receiving your EB-5 visa application approval. During this time, you have to meet the investment and employment requirements of the “EB-5 investor visa program.” Your capital investment must create at least ten full-time jobs for qualified workers in the United States.

As a conditional green card holder, you, your spouse, and unmarried children under the age of 21 can live, work, and study anywhere in the United States without restrictions.

7. The final approval (the form I-829).

On average, the processing time for form I-829 is between 22 and 48.5 months. You must submit your I-829 petition 90 days before your conditional permanent residence status expires. This status is automatically renewed for 2 years after you file your I-829 form.

I-829 petitions clear the conditions of your EB-5 green card and make you an LPR of the United States of America. Your LPR status lasts 10 years and can be renewed indefinitely. You can apply for US Citizenship after 5 years of green card holder status.

Things that can affect the processing time

There are several factors that influence the EB5 visa processing time, and we have listed them below:

1. Higher demand but fewer visas available per year.

Only 10,000 EB-5 visas are available each year, but in recent years, the number of EB-5 visa applicants has increased. This means that more people are filing petitions, which creates a backlog and increases the wait time due to the limited number of EB-5 visas available.

A spouse or unmarried child under 21 joining the process can also increase the number of petitions processed under the EB-5 investor visa program. Occasionally, cutoff dates are imposed to limit the number of investors from backlogged countries who can apply for and receive their conditional green cards.

This means that investors from a country with a backlog may have to wait several more years than those with less demand.

2. The processing time also depends on the location of the investor’s application.

Immigrant investors who are legally resident in the United States at the time of filing take a slightly different approach than foreign investors. There are different processing times for investors filing Form I-485 for conditional residency status and EB-5 investors outside the US who file Form DS-260 for EB-5 status.

3. Expedited processing.

The US Citizenship and Immigration Services (USCIS) can grant expedited processing for new commercial enterprises that meet certain criteria, such as when the new business supports an urgent US governmental interest. This can reduce processing times from one year to anywhere from 4 to 10 months.

How can the EB-5 visa processing time be shortened?

There are two ways to reduce the processing time for an EB-5 visa significantly. The first is by investing in a rural area project. EB-5 projects in rural areas are categorized as “set aside” visas for faster processing.

Some EB-5 projects in the rural area can receive Form I-526E approval in 6 – 12 months, as opposed to 29 months. For more information on setting aside an EB-5 visa, talk with an immigration lawyer who understands the EB-5 investor visa program.

Also, immigrant investors from non-backlogged countries holding a valid nonimmigrant status in the US can file their I-485 and I-526E petitions simultaneously. This will shorten the processing time, which could reduce your total timeline by 12 to 24 months.

Conclusion

If you are an investor or entrepreneur looking to launch your business or invest in a project that is accredited in the United States, the EB-5 visa can be a powerful and effective option for you. It can also help you gain permanent residency in the United States.

In recent years, the EB-5 visa has become increasingly popular among foreign investors, increasing waiting times for them. It is important to note that processing times for the EB-5 visa may affect the processing times of conditional green cards and capital redeployments.

Are you interested in learning more about the EB-5 visa and the steps necessary to prepare for it? An experienced immigration attorney at Gehi and Associates can help you determine which visa is best suited to your immigration and business goals.