USCIS Performance Data on I-526 Petitions Released
On March 23, 2016, the United States Citizenship and Immigration Service (USCIS) published their latest performance data on I-526 Petitions. The EB-5 I-526 petition provides permanent residency to investors who contribute at least $500,000 to a project, which provides work for ten individuals.
In 2008, 642 petitions were accepted by the USCIS and 853 were left pending. As of 2014, the USCIS had accepted 4,925 petitions with a pending 12,453 petitions. In 2015, the USCIS acceptance rates jumped nearly fifty percent to 8,756 petitions, leaving 17,367 pending. Each fiscal year is divided into four quarters with the first of 2016 having been completed, and the second ending March 31st. After the first quarter 6,277 petitions were accepted and 21,988 were pending.
With this large increase in pending petitions, investors could potentially face a significant visa backlog. For those visas granted within the fiscal year, more than 80% have gone to Chinese investors. Therefore, we recommend that applicants interested in pursuing EB-5 start their application process as soon as possible.
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