With five months left until the new year, and news of India no longer experiencing a visa backlog, we asked Bernard Wolfsdorf, partner of Wolfsdorf Rosenthal LLP, about how countries such as China and Vietnam can move past the retrogression visa backlog and what he thinks is the most important issue the EB-5 needs to resolve by 2021.

“The most important issue is undoubtedly the need to make more visas available for the three countries that were backlogged. That is China, India and Vietnam,” said Wolfsdorf. “While it is good that India is ‘current’ for July 2020 as indicated in the Visa Bulletin, we need a solution that resolves backlog issues for China and Vietnam.”

“Unfortunately, while there will be far more EB-5 visas available in the next fiscal year starting in October 1, 2020, most of these visas will be allocated to China. The reason is China was the first backlogged country and therefore Chinese EB-5 investors have the oldest priority for filing dates,” added Wolfsdorf. “So, the good news is that although the official EB-5 quota for each year is only 10,000 visas, the State Department has unofficially confirmed there will be many more EB-5 visas allocated soon. Having watched this issue closely for years, I think we may have closed to double the number of EB-5 visas because the unused family visas from this year will fall over into the employment visa category and EB-5 gets a percentage of these.”

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