NEWS & ALERTS
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16 Aug2024
The State Department, working in close collaboration with U.S. Citizenship and Immigration Services, is pleased to announce the issuance of all legally available visas in the Employment-Based Fifth Preference (EB-5) unreserved category for fiscal year (FY) 2024. Maximizing these visas facilitates legitimate travel for investors who establish commercial enterprises that create employment opportunities throughout the United States.
The Immigration and Nationality Act (INA) limits the number of employment-based preference immigrant visas that may be issued within a fiscal year. Specifically, INA 203(b)(5) provides that the annual limit for EB-5 visas is 7.1 percent of the worldwide employment limit, of which 68 percent is available for unreserved visa categories (C5, T5, I5, R5, RU, NU). Additionally, the EB-5 Reform and Integrity Act of 2022 specifies that unused EB-5 reserved visas from FY 2022 may be made available in the EB-5 unreserved categories for FY 2024.
Since all available EB-5 unreserved visas for FY 2024 have been used, embassies and consulates may not issue visas in these categories for the remainder of the fiscal year. The annual limits will reset with the start of the new fiscal year (FY 2025), on October 1, 2024. At that point, embassies and consulates may resume issuing immigrant visas in these categories to qualified applicants.
If you need more information or have any questions call 407-226-3659 to schedule a free consultation at our Orlando or Tampa office.
