EB-5 Immigrant Investor Program: Big Data and Analysis of Immigrant Investor Visas
Big Data and Analysis of EB-5 Immigrant Investor Visas
Attorneys:Attorney Jeff Zhengquan Xie,Attorney Jiarui Yin,Attorney Qian Zhao,Attorney Haochun Ling, Xiao Xiang
The EB-5 Immigrant Investor Program experienced a boom for a period after 1997. Following the implementation of the new EB-5 policy in 2022, the program has seen a resurgence in popularity.
From Fiscal Year 2000 to the present, a total of 106,924 foreign nationals have obtained permanent resident status in the United States through the EB-5 program.
Among them, 97,264 investors secured green cards by investing in Regional Center-affiliated projects, accounting for 91.1% of the total. In contrast, 5,819 investors obtained green cards through direct investment projects (i.e., non-Regional Center projects), making up only 8.9% of the total.
In Fiscal Year 2022, the U.S. government issued a total of 10,885 EB-5 immigrant visas. Of these, 63.22% were issued at U.S. consulates abroad, while 36.7% were granted through adjustment of status within the United States.
In Fiscal Year 2021, only 2,949 EB-5-related green cards were issued. Among them, 68.6% were issued at U.S. consulates, and 31.4% were obtained via adjustment of status in the U.S.
Due to delays in processing by U.S. government agencies (including disruptions caused by the COVID-19 pandemic), a substantial number of EB-5 visa slots have gone unused. The utilization of EB-5 annual visa quotas over the past five years is as follows:
|
Fiscal Year
|
Annual EB-5 Visa Quota
|
EB-5 Visas Issued
|
Unused EB-5 Visa Slots
|
|---|
|
2023
|
13,987
|
5,045
|
8,942
|
|
2022
|
19,880
|
10,855
|
8,995
|
|
2021
|
18,602
|
2,949
|
15,653
|
|
2020
|
11,111
|
3,596
|
7,515
|
|
2019
|
9,940
|
9,487
|
462
|
|
Total Unused Slots
|
—
|
—
|
41,567
|
Between October 2022 and May 2023, the U.S. government issued a total of 5,045 EB-5 immigrant visas. Of these, 3,129 visas (62.02%) were issued to EB-5 investors born in Mainland China.
The table below shows the number of EB-5 visas issued to applicants from various countries/regions:
|
Country/Region of Birth
|
Number of EB-5 Visas Issued
|
Percentage
|
|---|
|
Mainland China
|
3,129
|
62.02%
|
|
India
|
657
|
13.02%
|
|
Vietnam
|
248
|
4.92%
|
|
South Korea
|
213
|
4.22%
|
|
Taiwan
|
195
|
3.87%
|
|
Hong Kong SAR
|
49
|
0.97%
|
|
Venezuela
|
47
|
0.93%
|
|
Brazil
|
44
|
0.87%
|
|
Nicaragua
|
40
|
0.79%
|
|
South Africa
|
39
|
0.77%
|
|
Iran
|
37
|
0.73%
|
|
Pakistan
|
33
|
0.65%
|
|
Russia
|
30
|
0.59%
|
|
United Kingdom
|
24
|
0.48%
|
|
Colombia
|
19
|
0.38%
|
|
Canada
|
14
|
0.8%
|
|
Saudi Arabia
|
11
|
0.22%
|
|
United Arab Emirates
|
10
|
0.2%
|
|
Malaysia
|
9
|
0.18%
|
|
Bangladesh
|
9
|
0.18%
|
|
Singapore
|
9
|
0.18%
|
|
Indonesia
|
8
|
0.16%
|
|
Qatar
|
8
|
0.16%
|
|
Mexico
|
8
|
0.16%
|
|
Japan
|
7
|
0.14%
|
|
Philippines
|
7
|
0.14%
|
|
Syria
|
7
|
0.14%
|
|
Argentina
|
7
|
0.14%
|
|
Switzerland
|
6
|
0.12%
|
|
Jordan
|
6
|
0.12%
|
|
Egypt
|
6
|
0.12%
|
|
Kingdom of Bahrain
|
5
|
0.1%
|
|
Thailand
|
5
|
0.1%
|
|
Iran
|
5
|
0.1%
|
|
Kuwait
|
5
|
0.1%
|
|
Honduras
|
5
|
0.1%
|
|
Australia
|
4
|
0.08%
|
|
Libya
|
4
|
0.08%
|
|
Belgium
|
4
|
0.08%
|
|
Ukraine
|
4
|
0.08%
|
|
Sudan
|
4
|
0.08%
|
|
Turkmenistan
|
3
|
0.06%
|
|
Chile
|
3
|
0.06%
|
|
Yemen
|
3
|
0.06%
|
|
Peru
|
3
|
0.06%
|
|
Albania
|
3
|
0.06%
|
|
Germany
|
3
|
0.06%
|
|
Norway
|
2
|
0.04%
|
|
France
|
2
|
0.04%
|
|
Uruguay
|
2
|
0.04%
|
|
Azerbaijan
|
2
|
0.04%
|
|
North Korea
|
2
|
0.04%
|
|
Georgia
|
2
|
0.04%
|
|
Ecuador
|
2
|
0.04%
|
|
Belarus
|
2
|
0.04%
|
|
Angola
|
1
|
0.02%
|
|
Lebanon
|
1
|
0.02%
|
The above data reveals the following key insights:
-
EB-5 applications are predominantly filed by nationals of Asian countries. Applicants born in Asian countries occupy the top six positions in terms of total EB-5 visas issued, accounting for as much as 89% of the overall total.
-
Among Asian applicants, those born in Mainland China and other ethnic Chinese groups make up the vast majority, representing 66% of the total.
-
The number of EB-5 visas issued does not equate to the number of EB-5 applications filed. This is because the visa issuance figures include visas granted to the principal EB-5 investors, their spouses, and their minor children.
-
Country/region of birth does not equal country of current residence. For example, the table shows that two EB-5 visas were issued to applicants born in North Korea. It is possible that the principal EB-5 investor or their spouse was born in North Korea but currently resides in another country (e.g., South Korea).
-
The data presented above covers the period from October 2022 to May 2023, and reflects visas issued to investors who filed their EB-5 applications many years ago. This data has no correlation with new EB-5 applicants who submitted their applications after the implementation of the 2022 EB-5 policy reform.
Of the 3,129 visas issued to EB-5 investors born in Mainland China, 3,094 visas were issued by the U.S. Consulate General in Guangzhou.
Ranked by the number of EB-5 visas issued between October 2022 and May 2023, the U.S. Consulate General in Guangzhou ranks first, followed by the U.S. Consulate General in Mumbai, India, and the U.S. Consulate General in Ho Chi Minh City, Vietnam. The ranking of U.S. consulates is basically proportional to the number of EB-5 applicants from their respective host countries/regions as shown in the table above.
The above overview is prepared by XIE LAW OFFICES,LLC. to provide legal information to the Chinese community. It is primarily for academic discussion purposes and does not constitute legal advice on specific cases. If you already have legal representation, please consult your own attorney, who is familiar with the details of your case. Clients of Xie & Associates Law Firm, as well as readers who have not yet retained legal counsel, may contact Attorney Xie for specific legal questions. If you wish to reprint this document, please do so in full without any deletions, and clearly indicate the source.
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