Growth in EB-5 popularity in Vietnam has already resulted in a retrogression and a final cut off date. Vietnam now has a backlog of investors like Mainland China.
The news reported by the Chief of the Visa Controls Office at the IIUSA conference is that India, Brazil, South Korea, and possibly Taiwan are not far behind Vietnam and may see a backlog before summer 2019.
A country will retrogress if they go over their annual per country visa quota. No any one country is allowed more than 7% of the available visas.
Only 6 months into FY 2018, the Department of State issued 2,735 visas to applicants from countries other than Mainland China. This number is far greater than previous years. The increase in popularity of EB-5 with applicants from other countries will create issues for EB-5 investors from Mainland China. The reason is, if there are no leftover visas, then there are no visas available for investors from Mainland China who are on the waiting list.
This could increase wait times for Mainland Chinese investors. Long wait times may deter investors from Mainland China from applying. A simple solution would be to change the 10,000 visa cap to only count primary applicants. As it stands, the 10,000 includes the primary EB-5 investor, their spouses and their children.
Additionally, individuals thinking about investing in the EB-5 Program from India, Brazil, South Korea, or Taiwan, may benefit from investing early.
Original post: EB5 DAILY