EB-5 Visa Application Filings Tripled in 2023

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Mar 27, 2024, 11:13 ET

SAN FRANCISCO, March 27, 2024 /PRNewswire/ -- Golden Gate Global, a USCIS-licensed EB-5 regional center headquartered in San Francisco, California, reports a substantial increase in interest in the EB-5 visa in 2023 compared to 2022.

The EB-5 visa program is a direct way to obtain a green card through an eligible job-creating investment. The program requires a minimum investment of $800,000 for approximately 3-5 years, subject to certain requirements. Learn more about EB-5.

Golden Gate Global, a USCIS-licensed EB-5 regional center, reports a substantial increase in interest in the EB-5 visa: new EB-5 case filings increased by +215% year over year, while case adjudications (Form I-526 approvals) were up 170% Year over Year in 2023.

According to IIUSA, the leading EB-5 trade association, new EB-5 case filing increased by +215% year-over-year, while case adjudications (Form I-526 approvals) were up 170% YoY in 2023.

Rising interest in EB-5 visas among foreign investors shows an increasing appeal of permanent residency in the U.S.. It is also the result of the EB-5 Reform and Integrity Act (RIA) of 2022.

The RIA introduced significant upgrades, including:

New set-aside categories with improved processing times and the ability to avoid existing visa backlogs
The opportunity for concurrent filing for U.S.-based investors to promptly adjust their status and remain in the U.S. while waiting for their green cards
Accountability and transparency measures to protect investors

The legislation introduced three distinct set-aside categories for the EB-5 program: rural, high unemployment, and infrastructure projects. A 20% quota (of the available EB-5 visas for that year) is allocated toward projects located in rural areas, a 10% allocation to high unemployment areas, and 2% set-aside for eligible infrastructure projects. Learn more about EB-5 Set-Asides.

The RIA's provisions on priority dates and processing times particularly benefit investors from countries with historically high volumes of investors, like India and China. Presently, applications from these countries have a "current priority date." This status signifies that applicants from countries that have previously faced long waiting periods (retrogression) due to high demand and per-country visa caps, are currently able to proceed without facing a backlog.

As an experienced regional center in the EB-5 industry, Golden Gates Global (GGG) offers eligible EB-5 investments with designations that help expedite the U.S. green card process for its investors. Learn more about currently available EB-5 investment projects.

GGG is a leading USCIS-approved regional center and real estate investment firm with a stellar track record. GGG It enjoys a 100% USCIS project approval rate and has successfully raised over $750M of EB-5 capital from investors from 30+ countries.

Press Contact: Jane Baklashov [email protected]

SOURCE Golden Gate Global