EB-5 Visa Application Filings Tripled in 2023

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.

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