August Visa Bulletin: India Exhausts Annual Visa Quota for FY2019
The State Department published the August Visa Bulletin. As expected, the Final Action Date moved to October 15, 2014 in line with China and Vietnam, indicating that India has exhausted the annual limit of 700 visas for 2019.
DOS indicates it will make every effort to revert back to the FAD of May 1, 2017 indicated in the July Visa Bulletin, when retrogression was officially announced for investors born in India. Thus, Indian EB5 investors cannot expect much improvement in the coming months.
But you are still early to file. Retrogression waiting times will only grow longer as more H-1B investors from India seek faster alternatives to the endless backlogs in the EB2 and EB3 categories. To date, less than 1% of the group of H-1B investors estimated to be qualified have filed for EB-5.
See our video replay of Behring’s EB-5 Innovation Summit to learn more.
Beat the deadline: soon the same green card will require an investment up to $1.35mm and $1.8mm once the new regulation becomes effective. The new regulation is expected to be published any day, with only a 30-day grace period. Read more here.