Though adjudication times for EB-5 petitions have continued to climb, August 13th’s United States Citizenship and Immigration Services (USCIS) EB-5 Stakeholders Teleconference provided an indication I-526 processing may be growing more efficient.
During the call, the Immigrant Investor Program Office (IPO), the division of USCIS tasked with administrating the EB-5 program, announced their preliminary processing statistics for the current fiscal year.
From March to June of this year, the office has averaged more than 1,000 I-526 adjudications a month, more than an 80% increase over the rate earlier this year.
During that same time period, the IPO was able to process more than 1,100 I-526 petitions more than they received, also a positive indicator for future adjudication speeds.
Preliminary statistics for the first three quarters of fiscal year F2015:
|Petition:||Received:||% Increase from FY14:||Approved:||Denied:||Pending (% of # received):|
Nearly 50% more I-829 petitions were submitted in the first three quarters of this fiscal year than in 2014, confirming our predictions of an “I-829 bubble.”
Only 27% of I-829 petitions the IPO received have been adjudicated, making it likely I-829 processing times will continue to increase in the near term.
As a general trend, EB-5 compliance standards are on the rise — between pending legislation for Regional Center Program renewal and the increased prominence of EB-5 funding, it’s clear that regulatory requirements are only going to increase.
With this increase in compliance requirements, the USCIS will have to continue to improve their efficiency in order for processing times on any petition type to improve.
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