The US Immigration Service released the latest data : the number of EB-5 visas issued in 2024 hit a record high.

• 09 Sep 2024

Recently, the US Citizenship and Immigration Services ( USCIS ) released data for the fourth quarter of fiscal year 2024, ending the fiscal year 2024 ( October 1, 2023 - September 30, 2024 ). Compared with 2023, the number of new investors increased by 40 %, contributing more than $ 3 billion to the U.S. economy. The total number of I-829 approvals hit a record high. In 2024, the number of EB-5 visas issued by the U.S. consulate is the largest ever issued by the project.

In the fourth quarter of fiscal year 2024, the number of investors submitting applications for I-526 increased by 350 % compared to the third quarter. The data for the third quarter is relatively low, mainly because many investors rushed to submit applications before the government 's cost adjustment on April 1,2024. In this quarter, USCIS disclosed the processing data of I-526E application for the first time, but did not disclose the data in the previous quarter. The average rejection rate for applications for I-526 and I-526E was 21 %, but after the 2022 legislative change, the rejection rate for applications submitted through the Regional Center project was only 3 %. In contrast, the rejection rate of direct EB-5 application for investors to invest in their own enterprises is as high as 50 %. Of the 1,081 applications filed in the fourth quarter of fiscal year 2024, only 43 were based on direct EB-5 investments. The number of applications for the Regional Centre project continues to dominate.

I-829 showed a strong positive trend in the fourth quarter of fiscal year 2024. In the fourth quarter, the number of approved families remained at a high level, and USCIS approved 1,532 applications. This makes the total number of approvals in this fiscal year reach 6,089, a record high, more than twice the number of approvals in 2023.

In 2024, the number of EB-5 visa issuance reached a record high. Due to the adjustment of the government 's annual quota after COVID-19, the EB-5 visa ceiling for the fiscal year 2024 was as high as 14,169. As of the end of September 2024, 12,055 EB-5 visas have been issued. These visas mainly benefit investors who have submitted applications for the old bill and obtained I-526 approval.