Latest EB-5 News
Investor Lawsuit Challenges EB-5 Visa Allocation
A lawsuit has been filed in federal court against the government challenging its policy of requiring each EB-5 petitioner, as well as their spouse and children accompanying or following to join them, to obtain one of the 10,000 annual EB-5 visa numbers. This case, brought by 455 Chinese EB-5 petitioners, challenges the one visa per person rule. I believe the theory of this case has merit, but the chance of success is small. This change is desperately needed to encourage additional investment and job creation.
EB-5 Visa Numbers
The Department of State has issued the September 2018 visa bulletin, the last for fiscal year 2018. The visa bulletin says the China EB-5 category will continue to advance at a rate of about one week per month. But it says the Vietnam quota will have “steady forward movement.” This is good news for the Vietnamese EB-5 investors. We will be watching the EB-5 Vietnamese quota in the first few months of the beginning of the fiscal year, which starts October 1st, and report on how quickly the forward movement of the quota is progressing.