Possible Changes May Impact Wait Times for Mainland Chinese EB-5 Investors

We have recently learned that there are 30,259 EB-5 cases registered at the National Visa Center (“NVC”) waiting for final interviews of waiting for their priority dates to become current. This figure from the Department of State (“DOS”) suggests and increase of over 20% since last year. This figure may not give us the precise number of current applicants as attrition from causes such as dropout, divorce or death all cause meaningful changes to EB-5 wait times and line lengths. That said, this increase in the number of registered cases may be cause for concern for some EB-5 visa applicants as it may indicate a longer wait time for full visa approval.

There are some reasons to be optimistic, however. Especially for mainland Chinese investors in the EB-5 waiting line, some proposed legislative changes may help to alleviate long wait times.

One interesting piece of legislation is the Fairness for High-Skilled Immigrants Act of 2017. Introduced to the U.S. House of Representatives in January 2017, this bill would:

1. eliminate existing per-country limits on employment-based immigrants
2. Eliminate a provision in the Chinese Student Protection Act of 1992 that reduced annual Chinese immigrant visas to offset status adjustments under this Act

These changes would accelerate timelines for some mainland Chinese investors, helping to at least reduce wait times and waitlist lengths for this group.

At the same time, we have heard from Senator Chuck Grassley and Representative Bob Goodlatte, both of whom have meaningful influence over this immigration issue, have indicated that they will support the “Hatch” proposal which largely endorses H.R. 392. This proposal would accelerate visa obtainment for EB-5 visa seekers from China with 2014 and 2015 priority dates. Essentially, this would make one’s place in the waiting line independent of their nation if chargeability.

We are keeping a close eye on these developments and will continue to update our readers as we get a sense of how things will play out in 2018.

As always, if you need the help of an experienced EB-5 immigration attorney, please reach out to Mark Ivener for assistance.