Changes to Green Card processing: US enacts significant actions on the EB-5 visa category for FY2025
The EB-5 Reform and Integrity Act of 2022, enacted to address issues of fraud and abuse in the EB-5 program, has paved the way for the use of unused EB-5 reserved visas from FY 2023 in the EB-5 unreserved categories for FY 2025. This move comes after the US Citizenship and Immigration Services (USCIS) imposed a freeze on EB-5 visas for FY 2025 due to the Employment-Based Fifth Preference (EB-5) unreserved visa category reaching its annual limit.
The EB-5 Program, launched in 1990 by the US Congress, aims to strengthen the US economy through job creation and capital investment by foreign investors. Under the program, investors, their spouses, and unmarried children (under the age of 21) can apply for green cards in the US.
The annual limit for EB-5 visas, as per the Immigration and Nationality Act (INA), is 7.1% of the worldwide employment limit. Sixty-eight percent of this limit is available for unreserved visa categories (C5, T5, I5, R5, RU, NU). However, with the EB-5 unreserved visa category reaching its annual limit for FY 2025, as announced by the US Department of State on September 16, the USCIS will not issue more green cards for the rest of the fiscal year in this category.
The good news is that unused EB-5 reserved visas from FY 2023 are now available for use in the EB-5 unreserved categories for FY 2025. This means that there is still a chance for eligible investors to apply for a green card under the EB-5 program before the start of the new fiscal year (FY 2026) on October 1, 2025, when the annual limit will reset.
It's important to note that to be eligible for the EB-5 program, an investor must invest a minimum of $1 million in companies. The EB-5 Reform and Integrity Act of 2022 also addressed issues of fraud and abuse in the program, but further information is needed to determine who will restart the EB-5 program in 2026 after the annual EB-5 visa cap for fiscal year 2025 was reached.
In conclusion, the EB-5 Reform and Integrity Act of 2022 has enabled the use of unused EB-5 reserved visas from FY 2023 in the EB-5 unreserved categories for FY 2025. Eligible investors still have a chance to apply for a green card under the EB-5 program before the start of the new fiscal year in 2026.
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