On August 23, 2014, the U.S. announced that the numerical limit of EB-5 immigrant visas available to Chinese applicants for 2014 has been reached, meaning no new visa will be issued for the year 2014. This is significant because it is the first time that the EB-5 immigrant visa quota allocated to Chinese applicants has been reached since the U.S. created the EB-5 program in 1990.
A new allocation of 10,000 visas will be available on October 1, 2014, the beginning of the Fiscal Year 2015, so this offers a narrow time of opportunity for China EB-5 visa applicants who make application in October or November of 2014. These applicants will likely gain visas in the first half of 2015 before the quota is reached.
The 2015 quota is anticipated to be reached by May 2015. After that time the EB-5 visa program will become backlogged and the anticipated delay for receiving visa is anticipated to become two years.
McCormick International has been working closely with its immigration attorneys and the United States Citizens and Immigration Department. McCormick International has in place pre-approved EB-5 projects that are now available to accept investors in October and November of 2014. This opportunity will allow investors to take advantage of this short time in which applications can be made in order to secure visas during 2015.
This may be the last time Chinese investors have this opportunity for another two years, and even then there is no certainty in timing. To take advantage of this visa application opportunity in 2014, contact McCormick International. We currently have only 25 spots left for 25 families to make application in 2014 to apply for a 2015 visa.
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