The Department of State Officially Announced That There Will Be an Over Subscription of EB-5 Visas For Vietnam in May 2018
Similar to China, the May 2018 Visa Bulletin will reflect a cut-off date. This means that only those Vietnamese investors with approved I-526 petitions, where the priority date is before the cut-off date, can begin their consular process of obtaining the EB-5 visa at the U.S. Consulate in Ho Chi Minh City. The investor’s priority date can be found on the I-526 receipt notice. At this time we do not know what the cut-off date will be.
However, the Fiscal Year resets on October 1, 2018. Therefore, with more EB-5 visas available, Vietnam will revert back to “current” on the Visa Bulletin. This means that any Vietnamese investor with an approved I-526 petition can begin their consular process to obtain the EB-5 visa.
Please contact SKT Law if you have additional questions regarding your case or this process. We would be happy to help.Read More
As Iterated by the Notices From the U.S. Embassy and Consulate in Vietnam, the EB-5 Regional Center Program is Set to Expire on March 23, 2018.
As iterated by the notices from the U.S. Embassy and Consulate in Vietnam, the EB-5 Regional Center program is set to expire on March 23, 2018. Similar to their procedures in the past, the U.S. Embassy and Consulate will process and issue EB-5 visas before March 23, 2018. They will continue to issue EB-5 visas after March 23, 2018 if the EB-5 Regional Center program is extended.
While the EB-5 Regional Center program is currently not yet extended beyond March 23, 2018, we have good reason to believe that the program will likely be extended to September 30, 2018 without any changes (similar to the previous extension of the program).
Note: This expiration date only affects the EB-5 Regional Center program. This does not affect EB-5 direct investments. Investors can continue to file those petitions.
SKT will continue to monitor the situation and provide updates.
If you have any questions or are interested in applying for the EB-5 visa, please contact the attorneys at SKT.
This month, Charlie Oppenheim from the Department of State indicated that in April 2018, there will likely be a cut-off date in the EB-5 visa category for Vietnamese nationals. The cut-off date will match the cut-off date for China which is currently at July 22, 2014.
On October 1, 2018, at the beginning of the new fiscal year, a new set of visas will be allocated to the EB-5 program. At that time, we expect the cut-off date for Vietnamese nationals to move forward.
Due to the recent popularity of EB-5 visas, if you and your family are interested in applying for the EB-5 visa, we would recommend that you speak with an SKT attorney soon. SKT will continue to monitor the situation and provide updates.Read More
On January 22, 2018, the Senate and House passed a Continuing Resolution which was ultimately signed off by the President on the same day. The Continuing Resolution will fund the U.S. government through February 8, 2018.
As of January 23, 2018, the EB-5 Immigrant Investor Regional Center has been re-instated. Effective immediately, USCIS will again start accepting I-526 petitions and I-924 applications.
SKT will continue to monitor the situation and provide updates. If you have questions about EB-5, please contact the attorneys at SKT.