September 2024 Visa Bulletin: Final Update for the Fiscal Year

As the fiscal year 2024 draws to a close, the U.S. Department of State (DoS) has released the September Visa Bulletin.

For EB-5 investors, the dates of filing and final action dates have remained consistent since February 2024. The visa dates remain “current” across all subcategories for foreign nationals from all countries except India and Mainland China, signaling no other backlogs.

The United States Citizenship and Immigration Services (USCIS) has also confirmed that employment-based adjustment of status applications will continue to be accepted in September according to the Final Action Dates chart.

Final Action Dates

The Final Action Dates chart, as published in the September 2024 Visa Bulletin, establishes the cut-off dates that determine the availability of immigrant visas. These dates are critical as they show when applicants can proceed with their visa applications based on their priority dates—the date their initial Green Card application was submitted to USCIS. For EB-5 applicants, this priority date corresponds to the date on which they submit their Form I-526E.

Applicants whose priority dates fall before the final action date in their category can advance in their immigration process. When a final action date is marked as “C” or “current,” it means there is no backlog in that category, and an immigrant visa can be issued immediately upon approval.

No Progress for India and China in EB-5 Unreserved Category

In the September bulletin, the final action dates for the unreserved EB-5 category remain the same—December 1, 2020, for India and December 15, 2015, for China. All other countries continue to be in “current” status.

Similarly, the EB-5 set-aside categories are “current” for all countries, including India and China, indicating no backlog in these categories. Applicants who invest in qualifying projects under these reserved categories can proceed with their immigration process once their I-526E petitions are approved.

Annual Limits for Employment-Based Visas May Be Reached

The Department of State has also issued a cautionary note in the September bulletin regarding the potential for employment-based visas to hit their annual limit before the end of the fiscal year on September 30, 2024. Due to increasing demand, many employment-based preference categories could reach their caps. If this happens, the affected categories will be marked as “unavailable,” halting any further visa number requests for the rest of the fiscal year.

If the visa limits are reached, any pending applications will be pushed to the next fiscal year, starting on October 1, 2024, which could cause delays for applicants.

EB-3 Visa Category Faces Retrogression

In a significant update, the Department of State has retrogressed the final action dates for the EB-3 visa category across the Rest of the World, Mexico, and the Philippines. This includes the Employment Third Preference Other Worker (EW) category for the Rest of the World and Mexico. This decision comes after months of warnings from the DoS, which indicated that retrogression would be necessary due to the high demand for EB-3 visas.

The final action date for EB-3 Professionals and Skilled Workers will be pushed back by a year to December 1, 2020, across all countries (except India and China). Similarly, the final action dates for EB-3 Other Workers will retrogress by one month, also to December 1, 2020.

The DoS has explained that these retrogressions are necessary to slow down visa issuance as the totals near the annual limit for FY 2024. While there is hope that the final action dates will move forward in October 2024, this will depend on the global demand for EB-3 and EW visas and the new limits set for FY 2025.

Visa retrogression happens when there are more visa applications in a specific category or country than there are available visas for that month, causing the cut-off dates to move backward. This can lead to delays in processing applications, even if they have already been approved.

Dates for Filing

The Dates for Filing chart shows when applicants can submit their visa applications after their petitions are approved. For EB-5, both the reserved and unreserved categories remain unchanged, with the same cut-off dates for China and India as in the previous bulletin.

Speed Up Your Green Card Process With EB-5 Reserved Categories

Under the EB-5 Reform and Integrity Act of 2022 (RIA), 32% of the annual EB-5 visa quota is allocated as set-aside visas for projects in targeted employment areas (TEAs) and certain infrastructure projects. These set-asides reserve 20% for rural TEAs, 10% for high-unemployment or urban TEAs, and 2% for infrastructure projects.

As of the September 2024 Visa Bulletin, these reserved categories are “current” for all countries, meaning there are no backlogs. Visas under these categories are available for immediate issuance.

EB-5 investors from high-demand countries like India and China can avoid lengthy wait times in the unreserved visa queue by investing in projects that qualify for these set-aside visas. Rural EB-5 project investors, in particular, can expedite their Green Card process since USCIS grants priority processing to rural I-526E petitions.

However, it’s important to note that the supply of reserved visas is limited. To take advantage of this opportunity before these categories potentially become backlogged, investors should begin their EB-5 process as soon as possible.

Begin Your EB-5 Journey With EB5AN

The EB-5 process becomes simpler and more straightforward with professional assistance. To fully understand the program requirements and minimize financial and immigration risks, it’s advisable to consult with an experienced immigration attorney.

For insights into each step of the EB-5 process, check out EB5AN’s investor interview series.

Additionally, you can schedule a free consultation with EB5AN, where our expert team will personally address all your questions.