November 2020 Visa Bulletin Just ReleasedOctober 30, 2020
The U.S. Department of State (“DOS”) has issued the visa bulletin for November 2020.
Although we are still operating in a world impacted by COVID-19, the November Visa Bulletin seems to be projecting a likelihood that the world in fiscal year 2021 will approach a level of normalcy that will allow Consulates to reopen and visas to be issued more efficiently once again.
Due to the fact that the final action dates advanced so drastically at the end of fiscal year 2020, DOS seems to believe that the current final action dates will be able to meet the demand for available visas, and they now appear to be conservatively advancing the final action dates in a manner that will be sufficient to fully issue the annual allocated visas for the EB5 visa category for fiscal year 2021.
The Department of State still has to ensure that visas are issued in a manner that follows the first in first out requirement while also meeting the appropriate allocations to each country. Should fiscal year 2021 return the State Department’s operations to a pre-COVID-19 efficiency, the likelihood increases that all visas, including those in the EB-5 category will be allocated.
While one might look at the November 2020 EB5 visa bulletin and conclude there has been a lack of forward progress the last two months because countries facing a backlog in the EB-5 category have not had their final action date moved forward or moved only slightly, an optimist would say it is a signal that the DOS believes there will be a return to normalcy in which there is full utilization of visas in the EB-5 category.
If there is a full utilization of EB-5 visas in fiscal year 2021, this would be a major victory for those investors from backlogged countries because of the anticipated increase in visas available to the EB-5 category from the unused visas in the family category for fiscal year 2020 click the following link to learn more about unused visas.
Another bright spot in the release of the November 2020 visa bulletin is that the USCIS has again allowed individuals who are in the United States on another visa category to begin the adjustment of status process based on the dates for filing chart rather than the final action dates chart. The dates for filing for all countries except for mainland China are current. For mainland China, the date for filing is December 15, 2015 (four months past China’s final action date).
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For those new to EB-5.
The current EB-5 visa investment amount now requires foreign investors to invest the amount of $900,000 or $1.8 million USD plus fees. To read more on CMB's suggested goals for each EB-5 visa applicant.
As of today, CMB Regional Centers has helped over 1,400 families achieve I-829 petition approval (permanent green card) to permanently live and work in the United States and has returned capital to over 1,700 investors. Few regional centers have come close to achieving this level of success for their EB-5 investors.
CMB Regional Centers engages Prevail Capital, LLC, a broker-dealer registered with the SEC and a member of FINRA and SIPC, to be the administrative placement agent for all CMB EB-5 partnerships. If you would like to learn more about the EB-5 Investor Visa Program, please contact CMB Regional Centers.