EB-5 visas exhausted for FY2025, issuances to restart on October 1: USCIS

All EB-5 unreserved visas for FY2025 have been exhausted, with new issuances to resume from October 1

The US Citizenship and Immigration Services (USCIS) has said that all available immigrant visas in the EB-5 unreserved category for fiscal year 2025 have been issued. No new visas in this stream will be released until September 30, when the annual limits reset with the new fiscal year on October 1.

 

“At that point, embassies and consulates may resume issuing immigrant visas in this category to qualified applicants,” the US State Department said.

 

Why the cap was reached

 

The Immigration and Nationality Act (INA) sets strict limits on employment-based visas each year. INA 203(b)(5) places the EB-5 annual cap at 7.1 per cent of the worldwide employment limit. Of this, 68 per cent is allocated to unreserved visa categories, which include C5, T5, I5, R5, RU and NU.

 

 

The EB-5 Reform and Integrity Act of 2022 also allowed unused reserved visas from FY2023 to be carried over into FY2025. These additional numbers have been absorbed into the current allocation, leading to the category being filled.

 

What is the EB-5 visa?

 

The EB-5 visa provides a route to US permanent residency for foreign investors, along with their spouses and unmarried children under 21. To qualify, an applicant must:

 

< Invest at least $1.05 million in a new commercial enterprise, or $800,000 in certain targeted areas

< Create or preserve at least 10 full-time jobs for qualifying US workers within two years

 

The programme was introduced in 1990 to stimulate the economy through job creation and foreign capital. 

 

Rising Indian demand

 

Interest in the visa has been growing among Indians, particularly those in science, technology, engineering and mathematics.

 

At the ‘Immigrant Investor Programme’ event in Pune last week, Indian American immigration attorney Nadadur S Kumar said the visa is no longer a niche option. “The rise in property values and home equity has enabled more Indians to fund their investments, often with the support of parents. Many H-1B visa holders and students transitioning from F-1 to H-1B status in the US have also been able to leverage their financial progress to pursue EB-5,” said Kumar.

 

He added: “This demand is driven purely by numbers and is not the result of any discrimination.”

 

Nicholas Mastroianni III, president and chief marketing officer of United States Immigration Fund (USIF), which operates EB-5 regional centres, said Indian applicants are now leading petition numbers. “In the first four months of FY2025 alone, Indian applicants filed more than 1,200 I-526E petitions across reserved categories—more than any prior full year,” Mastroianni told Business Standard earlier this year.

 

Data published by the American Immigrant Investor Alliance (AIIA) shows Indian EB-5 petition filings since October 2022 have topped 1,790. 

 

Year-wise Indian EB-5 filings

 

FY2020: Around 290

FY2021: 80–100 (due to COVID-19 impact)

FY2022: Over 1,100 (after Reform and Integrity Act)

FY2023: Around 650–700

FY2024: Around 600–700

FY2025 (October 2024 to January 2025): Over 1,200

 

“If this pace continues, India could cross 2,000 filings by the end of FY2025,” Mastroianni had said.