02/14/2013 06:07:17 PM EST
Update on Wait Lines for Chinese EB-5 Investors
"The update in the March 2013 Visa Bulletin brings good news. It states: “Currently there is no reason to believe that it will be necessary to establish a China Employment Fifth preference category cut-off date during FY-2013, since demand over first six months of FY-2013 has now averaged out to a manageable level.” How did this occur? It appears the massive disruption in adjudication caused by Tenant Occupancy issues slowed visa issuance, such that the wait line may not develop as early in the FY as previously predicted, but it could still happen July 1, 2013 when the fourth and final quarter of the FY begins. Mr. Oppenheim, the Department of State official who oversees the Visa Bulletin, has reported that his office was concerned that the EB-5 numbers for China were moving too fast, but as of late, they appear to be “liveable.” If the numbers and usage remain at the current levels, he does not expect a cut-off for China EB-5 at this time." - Bernard Wolfsdorf, Feb. 14, 2013.