EB-5 Cut-off Date May Have to be Established for ChinaPosted: November 13th, 2012 | Author: Chris Jaensch | Filed under: Investor Visas, National News | Tags: E-2 Visas, Eb-5 Cut-off date, Eb-5 Visas, Investor Visas | 1 Comment »
The latest Department of State Visa Bulletin warns that a cut-off date for EB-5 Visas for Chinese citizens may have to be established. This is not surprising due to the overwhelming number of Chinese citizens who apply for the EB-5 Investor Visa. 70% of current applicants are Chinese.
Approximately 10,000 EB-5 Visas are allocated each year for investors from around the world. However, when the number of applicants from a particular country reaches a certain level, the Department of State establishes a cut-off date for that country. When this happens, applicants can submit their green card petitions, but an immigrant visa or green card will not be issued to the applicant until his or her place is reached on a waiting list.
Residents of countries that send many immigrants to America such as China, Mexico, India and the Philippines, often experience cut-off dates. In some cases, waiting times develop only for family sponsored green card applications and in other cases it is for employment based green card applications.
The EB-5 Investor Visa is awarded to foreigners who invest a minimum of $500,000 in a qualified, job-creating project in the United States. The funds must have been lawfully gained. To read more about the EB-5 Visa and other investor visas check out VisaAmerica.com.