The State Department issued EB-5 visa availability projections in their March 2014 Visa Bulletin which did not contain any mentions of retrogression of the EB-5 visa category. The EB-5 visa category is listed as “Current” under section E “Visa Availability in the Coming Months” without any mention of a possible cut-off date being established. This is similar to the situation which occurred approximately 14 months, when the State Department issued a preliminary warning in December 2012 that it would establish a cut-off date for Chinese nationals in the EB-5 visa category, only to reverse itself two months later.

The Chief of Immigrant Control & Reporting of the State Department, Charlie W. Oppenheim, spoke to the American Immigration Lawyers Association (AILA) and described the demand for EB-5 visas as “manageable.”  Mr. Oppenheim expects to provide another update on whether a possible cut-off is necessary in the June or July 2014 Visa Bulletins. It is important to note that Mr. Oppenheim noted that EB-5 visa demand increases during the summer months and in the past two fiscal years, almost one-third of EB-5 visas were used during the period from July to September. This indicates that individuals with approved I-526 Petitions should not wait until these “busy” months to apply for a visa, and instead should apply as soon as possible after receiving I-526 Petition approval. This would reduce the likelihood of any issues with retrogression affecting an individual’s EB-5 visa.

This news is consistent with our prior posts which warned that EB-5 investors should think hard before delaying the filing of an I-526 Petition or taking any other actions directly related to the possibility of EB-5 retrogression. Furthermore, USCIS predicted on its stakeholder call there will be a slowdown in I-526 Petition processing times in the coming months as the transition to the Immigrant Investor Program Office (IIPO) continues. This coupled with the March 2014 Visa Bulletin indicates a likelihood that EB-5 visa retrogression will not occur this fiscal year.

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Photo of Dillon Colucci Dillon Colucci

Dillon R. Colucci practices and handles U.S. immigration concerns and helps individuals, families, professionals, skilled workers, investors, and businesses live, work, invest, and do business in the United States. Dillon handles a wide range of immigration matters, including nonimmigrant and immigrant employment-based cases.…

Dillon R. Colucci practices and handles U.S. immigration concerns and helps individuals, families, professionals, skilled workers, investors, and businesses live, work, invest, and do business in the United States. Dillon handles a wide range of immigration matters, including nonimmigrant and immigrant employment-based cases.

Dillon provides business immigration counsel to clients, including HR managers, high-level executives, and employees to pursue a positive immigration outcome for all stakeholders involved. Dillon has focused on administrative appeals work, successfully representing several clients in their appeals of adverse decisions. He also spends time on I-9 employment verification matters as well as H-1B and LCA compliance, including internal and external audits and reviews to minimize employer liability.

Additionally, Dillon focuses on EB-5 immigrant investor matters, regularly working with developers across a variety of industries, as well as private equity funds on developing new projects that qualify for EB-5 investments. This includes the creation of new Regional Centers, having projects adopted by existing Regional Centers or through pooled individual EB-5 petitions. Dillon also counsels foreign nationals on obtaining permanent residency through individual or Regional Center EB-5 investments.