As I had previously mentioned in my blog post on Aug 21. The US govt. will be allocating around 100,000 additional green cards in FY 2021 starting on Oct 1 2020. Well, that has become official now. The United States Department of State, which is responsible for annual green card limits has now announced 261,500 green cards will be issued in FY 2021. This is the highest ever green cards that will be issued for EB categories in past history. Generally, every year only around 150,000 EB green cards are issued.
18,500 EB-5 Green cards for FY 2021
I had previously predicted around 7,500 additional EB-5 green cards. I was pretty close, As per the INA act, EB-5 category is allocated 7.1% of the total annual EB category green cards. This amounts to an additional 8,500 EB-5 green cards for FY 2021. Which is an 85% increase over the 10,000 EB5 green cards allotted annually. This is great news for EB-5 visa investors as countries like India and Vietnam will greatly benefit with their wait time being reduced. In fact, I believe Indian EB5 green cards will be current for the next few years.
EB-5 & India impact
If you are thinking of applying for the EB-5 as an Indian, I would advice you to file your EB-5 petition immediately. On average it’s taking 2 years for an I-526 approval, which as per my forecasts will make you eligible for a green card without any wait time.