EB-5: The Investment Immigration Boom in the U.S. with a 40% Increase in Applications and Record Approvals

The U.S. Citizenship and Immigration Services (USCIS) recently released data for Q4 of 2024, marking the end of the 2024 fiscal year (from October 1, 2023, to September 30, 2024). These results reveal a robust growth trajectory for the EB-5 program, with I-526 application filings increasing by 40% and I-829 approvals reaching an all-time high.

The I-526 application is the initial step in the EB-5 process, requiring investors to demonstrate that their investment meets program criteria, including the required capital amount (a minimum of $800,000 for targeted employment areas) and a plan to create at least 10 full-time jobs for U.S. workers. In fiscal year 2024, USCIS received 4,463 I-526 applications, a significant increase from 3,162 in the previous year, indicating a resurgence of confidence among international investors. Additionally, the number of pending I-526 applications slightly decreased from 13,829 at the end of 2023 to 13,168 by the end of 2024, reflecting improvements in processing timelines.

As for the I-829 application, this final step allows investors and their families to remove conditions on their conditional green cards and obtain permanent residency. Investors must demonstrate that their investment remains active and has fulfilled the job creation requirements. In fiscal year 2024, USCIS approved 3,076 I-829 applications, three times the 967 approvals in the previous year, setting a record in the EB-5 program’s history. Meanwhile, pending I-829 applications decreased from 12,156 to 10,327, highlighting improved efficiency in processing backlogs.

These results not only showcase the strong recovery of the EB-5 program but also reaffirm growing international investor confidence. With continuous policy and procedural improvements, the EB-5 program remains one of the most attractive pathways to U.S. residency, offering abundant opportunities for future investors.