US EB-5 Visa Program Hits Record $3 Billion in Investments

The United States EB-5 immigrant investor program achieved unprecedented success in fiscal year 2024, with new EB-5applications surging 40% and processing efficiency reaching record levels, according to data released by U.S. Citizenship and Immigration Services (USCIS).

Rising Investment Levels and Visa Approvals

The program, which provides permanent residency pathways for foreign investors, attracted more than $3 billion in investment during the fiscal year ending September 30, 2024. Most notably, the number of investors completing their immigration journey tripled compared to 2023, with 6,089 families receiving final approval through I-829 petitions.

US consulates issued a record 12,055 EB-5 visas in 2024, with Chinese investors and their families receiving 69% of the allocations, followed by Vietnamese (12%) and Indian (6%) applicants. The higher visa numbers were partially attributed to post-COVID adjustments that raised the annual cap to 14,169.

EB-5 Visa Statistics in Application Success Rates

The program's Regional Center category saw huge success, leading to new applications with a minimal 3% denial rate for petitions submitted under the 2022 Reform and Integrity Act (RIA). In contrast, direct EB-5 investments experienced higher scrutiny, with a 50% denial rate.

USCIS's Immigrant Investor Program Office (IPO) processed over 13,000 I-829 petitions in 2024, reflecting a 150% increase from the previous year. This improvement brings forward shorterEB5 I-829 processing time for investors moving forward.

Stronger Oversight and Areas for Improvement

The program also introduced tighter oversight for international promoters, with 295 new third-party promoter applications filed in Q4 2024, bringing the total to 1,196 since the RIA’s implementation.

Despite the successes, challenges remain. A 25% denial rate for Regional Center projects in Q4 2024 poses risks for investors engaged in projects awaiting final approval, highlighting areas for further refinement.