The U.S. Department of State’s January 2025 Visa Bulletin continues to highlight persistent backlogs in many employment-based immigration categories. While EB-2 and EB-3 remain heavily retrogressed for India and China, the EB-5 set-aside categories — long viewed as a faster route — may soon face changes that could alter investor expectations.
The Visa Bulletin included a critical note signaling possible changes:
This suggests that cut-off dates could be introduced during FY2025 if demand continues to rise.
EB-5 set-aside categories have been attractive because they:
According to Invest in the USA (IIUSA), based on FOIA data:
IIUSA analysis suggests that cut-off dates are unlikely in the first half of FY2025, but adjustments could be made later in the fiscal year if demand accelerates.
Pros:
Cons:
The January 2025 Visa Bulletin underscores the continued attractiveness of EB-5 set-aside categories — but also warns of potential changes that could reshape investor strategies. While cut-off dates are not expected in the immediate future, rising demand could trigger restrictions later in FY2025.
EB-5 investors should stay closely aligned with immigration counsel, monitor Visa Bulletin updates, and be prepared to adjust timelines or strategies if the Department of State introduces new filing or final action dates.
Key Highlights from the January 2025 Visa Bulletin
- EB-2 and EB-3 Backlogs:
- India-born nationals face delays of up to 12 years in EB-2 and EB-3.
- China-born nationals face delays of around four years in the same categories.
- EB-5 Unreserved Categories:
- Final action cutoff dates remain at July 15, 2016 for China and January 1, 2022 for India.
- All other countries remain current.
- EB-5 Set-Aside Categories (Rural, High Unemployment, Infrastructure):
- Currently current for all countries, allowing immediate processing and concurrent filings.
Important Note on EB-5 Set-Aside Categories
The Visa Bulletin included a critical note signaling possible changes:
“The Department of State and USCIS note increased I-526E petition approvals, and both agencies see increasing numbers of individuals processing their applications to completion in the EB-5 set aside categories. It may become necessary to establish Dates for Filing and Final Action Dates during the fiscal year to ensure that issuances in these categories do not exceed annual limits.”
This suggests that cut-off dates could be introduced during FY2025 if demand continues to rise.
Impact on EB-5 Investors
Current Situation
EB-5 set-aside categories have been attractive because they:
- Allow concurrent filing of adjustment of status applications with I-526E petitions.
- Provide investors with a five-year work authorization (EAD) and international travel permit (Advance Parole) while waiting for green card approval.
- Offer faster processing times with no backlogs to date.
Potential Changes if Cut-off Dates Are Introduced
- Concurrent filing may no longer be possible, limiting the ability of investors in valid U.S. status (H-1B, L-1, F-1, etc.) to secure interim work and travel benefits.
- Waiting times for green cards could increase, depending on priority dates and country of birth.
Visa Availability in FY2025
According to Invest in the USA (IIUSA), based on FOIA data:
- At least 4,274 visas are available for Rural Area petitions.
- More than 2,137 visas are available for High Unemployment Area (HUA) petitions.
IIUSA analysis suggests that cut-off dates are unlikely in the first half of FY2025, but adjustments could be made later in the fiscal year if demand accelerates.
Pros and Cons of EB-5 Set-Aside Categories in 2025
Pros:
- Currently the fastest EB-5 option with visas immediately available.
- Opportunity for concurrent filing and interim benefits (EAD and Advance Parole).
- Reserved allocations ensure priority access for investors in Rural, HUA, and Infrastructure projects.
- Large visa numbers available in FY2025 create short-term stability.
Cons:
- Risk of cut-off dates being introduced later in the fiscal year.
- Potential end of concurrent filing if backlogs emerge.
- Increased competition for limited visa allocations as demand grows.
- Greater uncertainty for long-term planning.
Final Thoughts
The January 2025 Visa Bulletin underscores the continued attractiveness of EB-5 set-aside categories — but also warns of potential changes that could reshape investor strategies. While cut-off dates are not expected in the immediate future, rising demand could trigger restrictions later in FY2025.
EB-5 investors should stay closely aligned with immigration counsel, monitor Visa Bulletin updates, and be prepared to adjust timelines or strategies if the Department of State introduces new filing or final action dates.