October Visa Bulletin Unveiled – Major Advancements for Indian EB-5 Applicants!
The October Visa Bulletin has just been released, and it brings with it exciting developments for Indian EB-5 applicants who filed before April 2022. This is significant news that could have a profound impact on your immigration journey. In this video update, Peter Bibler dives deep into the latest updates and what they mean for you. Let’s explore the key highlights.
A New Fiscal Year Begins
The October Visa Bulletin marks the beginning of fiscal year 2024, setting the annual Visa quotas and expectations for the year ahead. While final action dates have advanced, the improvements may not be as substantial as we hoped, but it’s not unexpected.
Indian EB-5 Applicants Rejoice
The brightest spot in this bulletin is for Indian EB-5 applicants who filed before April 2022. The Visa category for these individuals has surged forward to April 2022. This advancement is excellent news, offering a glimmer of hope for many Indian investors.
Understanding the Visa Bulletin
Peter Bibler, in his video series, regularly monitors the Department’s monthly Visa bulletin, especially for employment-based schedules. He discusses alternative strategies to help you secure a green card for yourself and your family. If you’re interested in learning more about EB-5 and staying updated on crucial information, be sure to explore Achieve EB-5 channel.
EB-1, EB-2, and EB-3 Updates
While EB-1 is currently current once again for the rest of the world, China has not seen significant advancement. The final action date for India also experienced some fluctuations. These updates reflect the complex dynamics of the Visa system and the challenges faced by Indian and Chinese applicants.
EB-2 and EB-3 Backlogs Persist
EB-2 has moved forward but remains reflective of increasing demand. EB-3, on the other hand, has seen retrogressions, especially for the rest of the world. The annual Visa quotas may have been refreshed, but the backlogs continue to persist.
EB-5: Current for the World
The good news is that EB-5 remains current for the rest of the world, including India and China. However, the question remains, how long will these categories stay current in fiscal year 2024? This is a critical consideration for those looking to invest in the EB-5 program.
The Impact of the RIA Policy
Peter Bibler highlights the impact of the RIA (EB-5 Reform and Integrity Act) policy, which established new Visa set-asides for specific types of investments. The unreserved Visa line caters to those who filed before March 2022 or new investors in non-TEA projects.
Chart B: Dates for Filing
Understanding Chart B is crucial because it often provides an estimate of where the State Department expects final action dates to be by the end of the fiscal year. The good news is that USCIS has indicated that Indian EB-5 investors can follow Chart B dates for filing their adjustment of status applications if their priority date is before April 1, 2022.
Concurrent Filing Strategy
Concurrent filing can be beneficial, allowing you to get your EAD card in about three months and your Advanced Parole travel document in about six to eight months. This strategy has been particularly helpful for H-1B families looking for backup plans.
Stay Informed for the Future
As we venture into fiscal year 2024, it’s essential to stay informed about Visa updates and strategies. Subscribe to Achieve EB-5 channel for future videos that will explore these subjects in more detail.
Take Action
If you’re considering the EB-5 investor visa program or have questions about your specific case, don’t hesitate to schedule a free consultation with Achieve EB-5’s experienced team. Your journey to obtaining a green card may be closer than you think.
In conclusion, the October Visa Bulletin brings both challenges and opportunities for EB-5 applicants, especially those from India. Stay tuned for further updates, and remember that knowledge and strategic planning are key to navigating the complex world of immigration.