2018 EB-5 Visa Usage Statistics & Trends...2018 EB-5 Visa Usage Statistics & Trends Special Data and Insights from the Department of State Data Source: Immigrant Visa Control & Reporting

2018 EB-5 Visa Usage Statistics & TrendsSpecial Data and Insights from the Department of State

DataSource:Immigrant Visa Control & Reporting Division, U.S. Department of State

Preparedby:LeeLi,Policy Analyst,InvestIntheUSA(IIUSA)

Updated:November 5, 2018

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DATAREPORT

Special thank you to Mr. Charlie Oppenheim, Chief of Immigrant Visa Control & Reporting Division at U.S. Department of State, for providing the latest data on EB-5 visa usage and for his insightful comments on this topic.

EB-5 Visa Usage by Fiscal Year ---------------------------------------------------------------------------------------------------- 1

EB-5 Visa Usage: Consulate Processing versus Adjustment of Status --------------------------------------------------- 2

EB-5 Visa Usage by Investment Type -------------------------------------------------------------------------------------------- 3

EB-5 Visa Usage by Country of Chargeability ---------------------------------------------------------------------------------- 5

Percentage of EB-5 Visa Number Used by Country of Chargeability -------------------------------------------- 6

EB-5 Visa Number Used by China versus All Other Countries of Chargeability ------------------------------- 7

EB-5 Visa Number Used by Top Countries of Interest --------------------------------------------------------------- 8

Percentage of EB-5 Visa Number Used by Principal Investors ----------------------------------------------------- 9

EB-5 Visa Queue at the National Visa Center (NVC) -------------------------------------------------------------------------- 10

Percentage of EB-5 Visa Applicants Pending at NVC by Country of Chargeability ---------------------------- 11

EB-5 Visa Applicants Pending at NVC by Priority Date (China) ----------------------------------------------------- 12

EB-5 Visa Applicants Pending at NVC by Priority Date (Top Countries of Interest) --------------------------- 13

Table of Contents

Source: Annual Report of the Visa Office, Bureau of Consular Affairs, U.S. Department of StatePrepared by: IIUSA

231 188 147 71 126349 502

793

1,443

4,218

1,885

3,463

7,641

8,564

10,692

9,764 9,947 10,090

9,602

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

11,000

FY2000 FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018

Num

ber o

f EB‐5 Visa Used

Number of EB‐5 Visa's Used by Fiscal Year (FY2000 ‐ FY2018)

Data Insights:

A total of 9,602 immigrant visas were used by

the EB‐5 category in FY2018, a 5% decline from

the last fiscal year.

Between FY2000 to FY2018, 79,716 immigrant

investors and their qualifying family members

hobtained a green card via the EB‐5 Immigrant

Investor Program. Based on the Department of

State's statistics, IIUSA estimates that over

26,300 qualified families have immigrated to the

U.S. by investing in an economic development

project through the EB‐5 Program between

FY2000 to FY2018.

EB-5 Visa Usage Trends by Category

Copyright © 2018 IIUSA Data Report: EB-5 Visa Statistics & Trends | 1


344

996746

584

9631,252

1,464991

(10.1%)

1,442(14.5%)

1,676(16.6%)

1,795(18.7%)

1,099

3,222

1,139

2,879

6,678

7,312

9,228 8,773(89.9%) 8,505

(85.5%)8,414(83.4%)

7,807(81.3%)

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018

Num

ber o

f EB‐5 Visa Used

Adjustment of Status (AOS) Consulate Processing (CP)

Number of EB‐5 Visas Used: Consulate Processing versus Adjustment of Status (FY2008 ‐FY2018)

Data Insights:

In FY2018, 81.3% of the EB‐5 visaa were issued via

consulate processing at Department of State

Foreign Service Posts overseas, indicating that

over 81% of the EB‐5 visa applicants physically

resided in their home country before receiving

their EB‐5 green card in FY2018.

In addition, the percentage of EB‐5 visa numbers

used via adjustment of status (AOS) at

USCIS rose from 16.6% in FY2017 to 18.7%

in FY2018, largely due to the fact that

countries like Brazil, India, and Venezuela that

tend to have a higher percentage of AOS rate

were using an increasing amount of EB‐5 visa

numbers over the last three fiscal years (more

details at page X).



Total EB‐5 Visa Numbers Used (Issued and Adjustments of Status) by Category (FY2000 ‐ FY2018)

Category FY2000 FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 Grand Total Since 2000

$1M Stand‐Alone 129 111 89 33 58 132 46 149 149 282 324 230 159 243 161 64 273 269 220 3,121

$500K Stand‐Alone (TEA) 102 77 58 37 68 216 388 470 239 410 239 152 164 227 155 92 573 417 361 4,445

$1M Regional Center 0 0 0 1 0 0 0 1 0 7 1 5 6 7 1 11 13 11 26 90

$500K Regional Center (TEA) 0 0 0 0 0 1 68 173 1,055 3,519 1,321 3,076 7,312 8,087 10,375 9,597 9,088 9,393 8,995 72,060

Total 231 188 147 71 126 349 502 793 1,443 4,218 1,885 3,463 7,641 8,564 10,692 9,764 9,947 10,090 9,602 79,716

Percentage of EB‐5 Visa Numbers Used by Investment Type (FY2000 ‐ FY2018)Category FY2000 FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 Grand Total Since 2000

$1M Stand‐Alone 55.8% 59.0% 60.5% 46.5% 46.0% 37.8% 9.2% 18.8% 10.3% 6.7% 17.2% 6.6% 2.1% 2.8% 1.5% 0.7% 2.7% 2.7% 2.3% 3.9%

$500K Stand‐Alone (TEA) 44.2% 41.0% 39.5% 52.1% 54.0% 61.9% 77.3% 59.3% 16.6% 9.7% 12.7% 4.4% 2.1% 2.7% 1.4% 0.9% 5.8% 4.1% 3.8% 5.6%

$1M Regional Center 0.0% 0.0% 0.0% 1.4% 0.0% 0.0% 0.0% 0.1% 0.0% 0.2% 0.1% 0.1% 0.1% 0.1% 0.0% 0.1% 0.1% 0.1% 0.3% 0.1%

$500K Regional Center (TEA) 0.0% 0.0% 0.0% 0.0% 0.0% 0.3% 13.5% 21.8% 73.1% 83.4% 70.1% 88.8% 95.7% 94.4% 97.0% 98.3% 91.4% 93.1% 93.7% 90.4%





21.8%

73.1%

83.4%

70.1%

88.8%

95.7% 94.4%97.0% 98.3%

91.4% 93.1% 93.7%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018

Percen

tage of E

B‐5 Visa Used

$500K Regional Center (TEA)

$500K Stand‐Alone (TEA)

$1M Stand‐Alone

$1M Regional Center

Percentage of EB‐5 Visas Used by Investment Type: Stand‐Alone Investments versus Regional Center Projects (FY2008 ‐FY2018)

Data Insights:

Between FY2008 and FY2018, on average, nearly

93% of the EB‐5 visa holders obtained their

green card by investing through an EB‐5 Regional

Center project located in a targeted

employment area ("TEA").

In addition, stand‐alone investments in a TEA

project ("$500k Stand‐Alone TEA") accounted for

nearly 4% of the EB‐5 visa numbers used in

FY2018; while stand‐alone investments in a non‐

TEA project ("$1M Stand‐Alone") took up 2% of

the EB‐5 visa usage in FY2018. Less than 1% of

the EB‐5 visa holders who obtained their green

card in FY2018 invested in a non‐TEA Regional

Center project.



Total EB‐5 Visa Numbers Used by Country of Chargeability (FY2008 ‐ FY2018)

Country of Chargeability* FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 Country Total Since FY2008

China 360 1,979 772 2,408 6,124 6,895 9,128 8,156 7,516 7,567 4,642 55,547

Vietnam 4 11 15 26 35 85 121 280 334 471 693 2,075

India 19 72 62 37 77 87 96 111 149 174 585 1,469

South Korea 693 903 295 254 447 364 225 116 260 195 531 4,283

Taiwan 47 170 94 122 148 137 126 139 203 188 452 1,826

Brazil 2 15 17 16 46 54 30 34 150 282 388 1,034

Venezuela 1 30 20 46 109 92 96 72 109 108 237 920

Rest of the World (ROW) 317 1,038 610 554 655 850 870 856 1,226 1,105 2,074 10,155

Annual Total 1,443 4,218 1,885 3,463 7,641 8,564 10,692 9,764 9,947 10,090 9,602 77,309

Percentage of EB‐5 Visa Number Used by Country of Chargeability (FY2008 ‐ FY2018)

Country of Chargeability* FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 Country Total Since FY2008

China 24.9% 46.9% 41.0% 69.5% 80.1% 80.5% 85.4% 83.5% 75.6% 75.0% 48.3% 71.9%

Vietnam 0.3% 0.3% 0.8% 0.8% 0.5% 1.0% 1.1% 2.9% 3.4% 4.7% 7.2% 2.7%

India 1.3% 1.7% 3.3% 1.1% 1.0% 1.0% 0.9% 1.1% 1.5% 1.7% 6.1% 1.9%

South Korea 48.0% 21.4% 15.6% 7.3% 5.9% 4.3% 2.1% 1.2% 2.6% 1.9% 5.5% 5.5%

Taiwan 3.3% 4.0% 5.0% 3.5% 1.9% 1.6% 1.2% 1.4% 2.0% 1.9% 4.7% 2.4%

Brazil 0.1% 0.4% 0.9% 0.5% 0.6% 0.6% 0.3% 0.3% 1.5% 2.8% 4.0% 1.3%

Venezuela 0.1% 0.7% 1.1% 1.3% 1.4% 1.1% 0.9% 0.7% 1.1% 1.1% 2.5% 1.2%

Rest of the World (ROW) 22.0% 24.6% 32.4% 16.0% 8.6% 9.9% 8.1% 8.8% 12.3% 11.0% 21.6% 13.1%

* Sort by total number of EB‐5 visa usage in FY2018.Source: Annual Report of the Visa Office, Bureau of Consular Affairs, U.S. Department of StatePrepared by: IIUSA

EB-5 Visa Usage Statistics by Country



Data Insights:

Although China remains the largest country in terms of EB‐5 visa usage,

it was only able to receive 48.3% of the total EB‐5 visa annual allocation

in FY2018, down from over 75% for the last seven years.

In contrast, Vietnam continued to increase its usage of EB‐5 visas and

reached its annual per‐country cap (7.1%) for the first time in FY2018.

Moreover, 6.1% of the FY2018 EB‐5 visa number was used by Indian visa

applicants, a substantial growth from 1.7% in FY2017.

Additionally, other top EB‐5 investor markets like South Korea, Taiwan,

Brazil, and Venezuela also doubled their shares of EB‐5 visa usage year‐

over‐year, accounting for respectively 5.5%, 4.7%, 4.0%, and 2.5% of the

annual EB‐5 visa allocation in FY2018.

The share of EB‐5 visa usage from the rest of the world ("ROW") also

exhibited a significant increase from 11% from FY2017 to over 21% in

FY2018.

China: 4,642

(48.3%)

Vietnam, 693 (7.2%)

India, 585 (6.1%)

South Korea, 531 (5.5%)

Taiwan, 452 (4.7%)

Brazil, 388 (4.0%)

Venezuela, 237 (2.5%)

Rest of the Word, 2,074 (21.6%)

Top six (6) EB‐5 investormarkets (other than China) account for 2,886 or 30%of the total EB‐5 visa usage

in FY2018

Percentage of EB‐5 Visas Used by Country of Chargeability (FY2018)

EB-5 Visa Usage Shares by Country



360

1,979

772

2,408

6,124

6,895

9,128 (85.4%)

8,156 (83.5%)

7,516 (75.6%)

7,567 (75.0%)

4,642 (48.3%)

1,083

2,239

1,113 1,055

1,517 1,669 1,564 1,608

2,431 2,523

4,960

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018

Num

ber o

f EB‐5 Visa Used

China All Countries Other than China

Number of EB‐5 Visas Used by Country of Chargeability: China versus All Other Countries (FY2008 ‐FY2018)

Data Insights:

In FY2018, only 4,642 EB‐5 visas, or 48.3%, were

allocated to applicants from China, the lowest

level since FY2012. Furthermore, the number of

EB‐5 visas available to Chinese applicants

declined by 39% from the last fiscal year, the

biggest drop since FY2010. It was the first time

that China was not able to receive more than

50% of the total EB‐5 visa annual allocation since

retrogression began in FY2015.

However, between FY2008 and FY2018, nearly

55,550 EB‐5 visas were used by immigrant

investors from China and their qualified family

members, accounting for 72% of the total EB‐5

visa usage during the same time period.

EB-5 Visa Usage Trends by Country



693

0

200

400

600

800

FY'08 09 10 11 12 13 14 15 16 17 FY'18

Vietnam

Number of EB‐5 Visas Used by Top Six Countries of Chargeability (Exceluding Main-Land China, FY2008 ‐FY2018)

Data Insights:

In FY2018, 693 EB‐5 visas were used by

applicants from Vietnam, a growth of 47%

from FY2017. In addition, it was the first

time that Vietnam reached its annual EB‐5

visa per‐country cap.

Additionally, 585 EB‐5 visas in FY2018

were allocated to applicants from India.

Rpresenting a 236% increase in EB‐5 visa

usage by Indian investors and their family

derivatives, the highest growth among the

top six countries of chargeability. South

Korea and Taiwan also had an over 100%

growth in EB‐5 visa usage year‐over‐year,

accounting for 531 and 452 EB‐5 visas,

respectively, in FY2018.

531

FY'08 09 10 11 12 13 14 15 16 17 FY'18

South Korea

585

FY'08 09 10 11 12 13 14 15 16 17 FY'18

India

452

0

200

400

600

800

FY'08 09 10 11 12 13 14 15 16 17 FY'18

Taiwan

388

FY'08 09 10 11 12 13 14 15 16 17 FY'18

Brazil

237

FY'08 09 10 11 12 13 14 15 16 17 FY'18

Venezuela



Source: U.S. Department of StatePrepared by: IIUSA

35.98%

26.95%

40.38%

35.30%

31.68%

36.53%

33.38%

25%

27%

29%

31%

33%

35%

37%

39%

41%

43%

45%

China Vietnam India South Korea Brazil Taiwan Rest of World

Percen

tage of E

B‐5 Visa Used by

Prin

cipa

l Inv

estor

High

Average

Low

Percentage of EB‐5 Visa Numbers Used by Principal Investor by Country of Chargeability: High, Average, Low (FY2015 ‐FY2018)

Data Insights:

On average, approximately 36% of the EB‐5 visas

that were used by Chinese applicants between

FY2015 and FY2018 were issued to principal

investors.

In contrast, I‐526 petitioners (principal investors)

from Vietnam only accounted for 27% of all the

EB‐5 visas used by Vietnamese visa applicants,

indicating on average each principal investor

from Vietnam could use up to 4 EB‐5 visas, the

loweest ratio among all EB‐5 investor markets.

The data also showed that 40% of the EB‐5 visas

that were used by Indian applicants were issued

to principal investors, meaning each Indian

investor could only take approximately 2.5 EB‐5

visas, the highest ratio among all countries of

chargeability between FY2015 and FY2018.



* Note: Visa applicants include principle EB‐5 investors and their qualifying immediate family membersData Source: Annual Report of Immigrant Visa Applicants in the Family‐sponsored and Employment‐based preferences Registered at the National Visa CenterPrepared by: IIUSA

Data Insights:

According to U.S. Department of State, there

were a total of 36,839 EB‐5 visa applicants

(including principal investors and qualified family

members) pending at the National Visa Center

(NVC) as of Ocotber 31, 2018, a year‐over‐year

growth of 22%.

325 1,183

1,806 3,162

4,748

6,418

17,662

24,629

30,259

36,839

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Number of EB‐5 Visa Applicantson File at NVC

Number of EB‐5 Visa Applicants* on Waiting List at the National Visa Center (NVC), As of November 1st, 2009 ‐ 2018

EB-5 Visa Applicants Pending at NVC


Data Source: Annual Report of Immigrant Visa Applicants in the Family‐sponsored and Employment‐based preferences Registered at the National Visa CenterPrepared by: IIUSA

Data Insights:

Approximately 89% of all the EB‐5 visa applicants pending

at NVC as of October 2018 are from China, down by 4%

from the peak in 2016.

Since Vietnam started experiencing a backlog of the EB‐5

visa category in FY2018, the number of pending EB‐5 visa

applicants from Vietnam increased from 649 in 2017 to

1,112 in 2018, a growth of 71% year‐over‐year.

Percentage of EB-5 Visa Applicants Pending in NVC by Applicant's Country of Chargeability (as of October, 2018)

Brazil: 260 (1%)

China: 32,834 (89%)

India: 509 (1%)

Sout Korea: 359 (1%)

Taiwan: 246 (1%)

Vietnam: 1,112 (3%)

ROW: 1,519 (4%)

As of October 2018, approximately 4,005 EB‐5 visaapplicants from all countries other than China were on the

waiting list in NVC




* Note: Visa applicants include principle EB‐5 investors and their qualifying immediate family members; ** Mr. Charlie Oppenheim is the Chief of Immigrant Visa Control & Reporting Division at U.S. Department of State.

Data Insights:

According to U.S. Department of State, 32,834 EB‐

5 applicants from China are pending at NVC as of

October 2018; while the total number of pending

visa applicants from other countries was 4,005.

In addition, approximately 8,827 Chinese visa

applicants in the current EB‐5 queue have a

priority date of 2014. Assuming the annual EB‐5

visa allocation to Chinese applicants to be 4,500, it

could take nearly two years for all the Chinese visa

applicants with a priority date of 2014 to be able

to receive their visa number. Mr. Charlie

Oppenheim** predicted that the EB‐5 Final Action

Date (FAD) for China could be August 22, 2014 on

the December 2018 Visa Bulletin and the FAD for

China could be between October 8 and October

22, 2014 on the Visa Bulletin by the end of FY2019.

2014: 8,827

2015:13,904

2016:7,008

2017:3,095

0 5,000 10,000 15,000 20,000 25,000 30,000 35,000

China

Non‐China

2014 2015 2016 2017

Number of EB‐5 Visa Applicants* on Waiting List at NVC, by Priority Date (Year), China versus All Other Countries of Chargeability, As of October 2018




* Note: Visa applicants include principle EB‐5 investors and their qualifying immediate family members; ** Mr. Charlie Oppenheim is the Chief of Immigrant Visa Control & Reporting Division at U.S. Department of State.

Data Insights:

According to U.S. Department of State, 1,112 EB‐5

visa applicants from Vietnam were pending at

NVC. Mr. Oppenheim** predicted that the EB‐5

Final Action Date (FAD) for Vietnam could be May

1, 2016 on the December 2018 Visa Bulletin. In

addition, he estimated that approximately 5,008

Vietnamese visa applicants with an approved or

filed I‐526 petition currently waiting in the EB‐5

visa queue. Based on the annual EB‐5 visa

allocation of 700, it could take 7.2 years to digest

all the Vietnamese visa applicants with a priority

date earlier than November 2018.

In addition, 509 EB‐5 visa applicants from India

were pending at NVC as of October 2018. Mr.

Oppenhiem predicted that India could face a FAD

on the Visa Bulletin no later than July 2019.

0 200 400 600 800 1,000 1,200 1,400 1,600

Brazil

India

South Korea

China‐Taiwan born

Vietnam

Rest of World

2014 2015 2016 2017

Number of EB‐5 Visa Applicants* on Waiting List at NVC, by Priority Date (Year), Top Countries of Chargeability, As of October 2018



Founded in 2005, Invest in the USA (IIUSA) is the national membership-based 501(c)(6) not-for-profit industry trade association for the EB-5 Regional Center

Program (the “Program”). Its members account for a vast majority of capital formation and job creation in the U.S. resulting from the Program. IIUSA advocates

for policies that will maximize economic benefit to the U.S. from the Program through advocacy, education, industry development, and research.

300 New Jersey Ave. NW Suite 1075

Washington, DC 20001

Email: [email protected] Telephone: 202-795-9669

www.iiusa.org

Author Contact InformationLee Li

Policy Analyst at [email protected]

Documents

2018 EB-5 Visa Usage Statistics & Trends...2018 EB-5 Visa Usage Statistics & Trends Special Data and Insights from the Department of State Data Source: Immigrant Visa Control & Reporting