Understanding the Impact of the March 2024 Visa Bulletin on EB-5 Green Card Applicants
The U.S. State Department’s release of the March 2024 Visa Bulletin brings significant updates that will impact EB-5 green card applicants, especially those from mainland China and India. As immigration policies continue to evolve, it’s crucial for individuals seeking U.S. residency through investment (EB-5 visa) to stay informed about the latest developments.
The Current State of EB-5 Visa Availability
Under the new provisions of the EB-5 Reform and Integrity Act (RIA), the priority dates for certain visa categories—”set aside” visas for rural areas, high unemployment areas, and infrastructure projects—remain current for all countries, which is positive news for applicants in these categories.
However, for pre-RIA I-526 Petition cases in the unreserved EB-5 category, the visa backlog persists. Specifically, as per the March 2024 Visa Bulletin:
- Applicants born in mainland China have a priority date of December 15, 2015.
- Applicants from India see a priority date of December 1, 2020.
Recent Changes to Adjustment of Status Filings
After a period of allowing Adjustment of Status (AOS) filings using Chart B dates, U.S. Citizenship and Immigration Services (USCIS) shifted its stance. While Chart B priority dates were moved to January 1, 2017 for mainland China and April 1, 2022, for India, and AOS filings were permitted based on Chart B since October 1, 2023, a new announcement came on February 12, 2024. USCIS declared that going into March 2024, applicants must utilize Chart A for Form I-485 filings and that it will not accept employment-based AOS filings under Chart B.
Due to these changes:
- EB-5 applicants from mainland China or India who qualify for an AOS based on Chart B must submit Form I-485 by February 28, 2024—to be received by USCIS no later than February 29, 2024.
- The possibility of future Chart B filings is uncertain as USCIS AOS disallowance reasons are linked to visa usage monitored by the State Department and USCIS.
Implications for EB-5 Green Card Applicants
These updates underline the need for applicants to act promptly to secure their place in line for a U.S. green card. The USCIS directive requires quick attention from those who qualify under Chart B, as any delay could result in missing the narrow submission window.
For future planning, applicants should regularly review the Visa Bulletin and keep an eye on the USCIS website for monthly updates. It’s essential to determine if Chart B filing opportunities arise, given that they are subject to change based on visa allocation and usage.
Key Takeaways for EB-5 Investors
- EB-5 investors born in qualifying countries must diligently monitor the Visa Bulletin for their priority dates under Chart A and Chart B.
- The unreserved EB-5 category faces backlogs, particularly for applicants from China and India.
- The brief window for Chart B AOS filings necessitates immediate action – applicants should file before the deadline of February 28, 2024.
- USCIS may allow or disallow Chart B filings at any point based on visa usage patterns.
As an EB-5 investor, being vigilant and responsive to these updates is critical to maintaining eligibility. Additionally, counsel from immigration attorneys can provide valuable guidance during this time of regulatory flux. Staying informed and prepared will help navigate the complex landscape of EB-5 immigration and secure your investment in your future in the United States.
Learn Today:
Glossary
EB-5 Green Card Applicants:
Individuals seeking U.S. residency through investment in the EB-5 visa program, which grants permanent residency (green card) to foreign investors who make qualifying investments in U.S. businesses.
March 2024 Visa Bulletin:
A monthly publication by the U.S. State Department that provides information on immigrant visa availability, including cutoff dates for various immigrant visa categories and countries. It impacts the timing of immigrant visa applications for EB-5 green card applicants.
EB-5 Reform and Integrity Act (RIA):
Legislation that introduced reforms to the EB-5 program, including changes to priority dates, set-aside visas for certain projects, and integrity measures to safeguard program integrity.
Priority Date:
The date used to determine when an individual may apply for an immigrant visa or adjust their status to obtain lawful permanent residency based on when their visa petition was initially filed.
Adjustment of Status (AOS):
The process by which an individual already in the United States can change their nonimmigrant status to that of a lawful permanent resident (green card holder) without having to leave the country.
Chart A and Chart B:
Criteria used in the Visa Bulletin to determine priority date availability for filing Form I-485. Chart A typically reflects final action dates for filing, while Chart B provides dates for filing applications for adjustment of status.
USCIS AOS Disallowance Reasons:
Reasons cited by the U.S. Citizenship and Immigration Services (USCIS) for disallowing adjustment of status filings under certain criteria, such as visa usage patterns and regulatory changes.
Unreserved EB-5 Category:
The category within the EB-5 visa program that includes applicants not eligible for set-aside visas based on specific project locations or qualifications, leading to potential visa backlogs for certain countries like China and India.
Visa Backlog:
A situation in which the demand for immigrant visas exceeds the number of visas available, resulting in delays for visa processing and issuance, notably affecting applicants from countries with high demand.
Regulatory Flux:
Periods of uncertainty and frequent changes in immigration regulations, policies, or procedures, requiring individuals to stay informed and adapt to evolving legal requirements and application processes.
Immigration Attorney:
A legal professional specialized in immigration law who provides guidance, advice, and representation to individuals navigating the U.S. immigration system, including assisting with visa applications, green card petitions, and compliance with immigration regulations.
Stay informed on the March 2024 Visa Bulletin impact on EB-5 applicants from China and India. Act fast on AOS filings before the deadline! For expert insights and updates, visit visaverge.com. Stay ahead in the visa game – your U.S. green card awaits!
This Article In A Nutshell:
The March 2024 Visa Bulletin impacts EB-5 applicants with priority dates for China and India. AOS filings under Chart A now required. Quick action essential—China and India applicants must submit Form I-485 by Feb. 28. Stay updated for changes at USCIS. Monitor Visa Bulletin for Chart A/B dates. Consult immigration experts for guidance.
