The September 2026 Visa Bulletin states that EB-5 unreserved visa numbers are unavailable for Indian nationals for the remainder of FY2026.

For September 2026, the U.S. Department of State’s Final Action Dates chart lists EB-5 Unreserved as follows:

  • India: Unavailable
  • China: Dec. 1, 2016
  • All other countries, including Mexico and the Philippines: Current

The September 2026 Visa Bulletin also confirms that all three EB-5 set-aside categories for post-RIA investors —rural, high unemployment, and infrastructure — remain current for all countries, including India.

The distinction between unreserved EB-5 and the set-aside categories is important for Indian investors. An Indian investor with an unreserved EB-5 case cannot receive an immigrant visa or obtain adjustment of status based on an available EB-5 visa number during September while the category is listed as “U.” By contrast, qualifying investors in the rural, high unemployment, or infrastructure set-aside categories continue to have visa numbers available, subject to satisfaction of all other eligibility requirements.

Looking Ahead to October 2026

The September 2026 Visa Bulletin also includes a warning regarding EB-5 unreserved. Per the Department of State, increased demand and visa number usage could require further retrogression or make the category unavailable before the end of FY2026.

Visa numbers reset with the new FY2027 beginning Oct. 1, 2026. DOS projects 186,317 employment-based immigrant visas for FY2027, representing an increase of more than 36,000 employment-based numbers over FY2026. The availability of EB-5 numbers in FY2027 will depend on demand and the statutory allocation of employment-based immigrant visas.

Accordingly, EB-5 investors — particularly those chargeable to India — should monitor the October 2026 Visa Bulletin for the treatment of EB-5 unreserved numbers as FY2027 begins.

For investors considering an EB-5 investment, the September Visa Bulletin also underscores an important planning consideration: the visa availability analysis is not the same for all EB-5 investors. Country of chargeability, the EB-5 category selected, and whether the investment qualifies for a set-aside can materially affect visa availability and timing.

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Photo of Kate Kalmykov Kate Kalmykov

Kate Kalmykov is based in our New York and New Jersey offices and has over two decades of experience in business immigration matters. Kate currently Co-Chairs the Global Immigration & Compliance Practice at Greenberg Traurig. In this role, she works with employers of

…

Kate Kalmykov is based in our New York and New Jersey offices and has over two decades of experience in business immigration matters. Kate currently Co-Chairs the Global Immigration & Compliance Practice at Greenberg Traurig. In this role, she works with employers of all sizes across a variety of industries in understanding and complying with the immigration laws relating to the hiring and retention of foreign talent. Specifically, her practice focuses on supporting clients and advising them on temporary and permanent residency immigration options for multi-national executive, business, scientific, and information technology personnel. In addition, her practice provides support to companies in the global transfer of personnel. Known by her clients for her out-of-the-box thinking, responsiveness and hands-on approach, Kate is often called upon to assist in developing immigration options and strategies in the most unique circumstances and to respond to complex Requests for Evidence (RFEs), Notices of Intent to Deny (NOIDs) or to appeal denied cases. Likewise, she has also been instrumental in developing employer compliance programs for DOL related filings including H-1Bs and PERMs, as well as for I-9 employment eligibility verification. To this end, she develops and conducts nationwide I-9 compliance trainings and policy manuals for human resources personnel, advises on best practices for E-Verify employers, provides guidance on avoiding immigration-related unfair employment practices claims and has defended and minimized penalties in immigration-related government audits. Kate regularly works with professionals from the firm’s labor, employment, tax and benefits groups, to provide strategic planning on immigration issues within a cross-border framework.

Kate also has deep experience working on all aspects of the EB-5 immigrant investor program. Kate has worked with real estate developers, private equity funds, and other organizations on applications to designate new EB-5 Regional Centers, applications for pre-approval of EB-5 projects; having projects adopted by existing EB-5 Regional Centers; structuring projects to be EB-5 compliant, the sale of existing EB-5 Regional Centers, preparing template I-526 petitions and advice on structuring direct EB-5 projects. Pursuant to the requirements introduced under the EB-5 Reform and Integrity Act, Kate works with EB-5 Regional Centers, EB-5 Projects, Overseas Migration Agents and Broker/ Dealers to develop internal programs for ongoing compliance and to prepare USCIS I-956, I-956F, I-956,G, I-956H, I-956K submissions. Kate has represented thousands of investors in obtaining their green cards through EB-5 regional center projects, as well as direct EB-5 investment opportunities. She also represented and structured the largest EB-5 offering in the Program’s history and has over the course of her career structured over $12 billion in EB-5 deals.

Within the field of immigration law, Kate is a well-known speaker and author. She is often called upon by various media outlets to comment on topics of business immigration law including the Real Deal, the Wall Street Journal, and Law360. Kate has appeared on numerous TV programs related to immigration law including CNN, the Stoler Report, Vietface TV, and China Business Network. Kate is also a prolific writer on the topic of immigration and has been published in immigration practice handbooks for the American Bar Association, American Immigration Lawyers Association, ILW, and in news periodicals that include the New Jersey Lawyer, the New York Law Journal, the New Jersey Law Journal, USA Today, GlobeSt.com, and the Commercial Observer. At the request of the American Bar Association, Kate co-authored the book “What Every Lawyer Needs to Know About Immigration Law,” a guide for non-lawyers on immigration law practice. She has sat on numerous bar association related committees including the American Immigration Lawyers Association EB-5 Practice Committee, the New Jersey Business Immigration Coalition and has chaired the American Bar Association’s, Committee on Immigration and Naturalization, Section of Administrative Law since 2011. Kate has been recognized in various legal surveys including Chambers Global, New York Super Lawyers, the New Jersey Law Journal who ranked as her as a “New Leader of the Bar,” (formerly 40 under 40) in 2012, NJBIZ “Best 50 Women in Business,” 2019, National Law Review, “Go-To Thought Leader: Immigration Law,” 2022, and Lawdragon 500, Leading U.S. Corporate Employment Lawyers, 2020-2022.

Kate is devoted to pro bono matters and has spent extensive time helping clients fleeing conflict and persecution with asylum applications, applying for and obtaining Temporary Protected Status and Humanitarian Parole.

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