EB5 and the USCIS Dashboard
The I-526 figures are also interesting.
Receipts YOY are 200% of last year and heading for 175-180% more for a full year.
Completions haven't kept up with that pace, so Pending applications have doubled during the year (although still only a modest 2.6k including those waiting for Customer Action).
Completion numbers are showing the beginnings of an upward trend to keep pace with current Receipt levels.
At the 78.2% approval rate for I-526 and the known 2.9 I-485 per I-526, the backlog represents 5.9k EB5 visas.
The current rate of Receipts (avge. 335/month over last 4 months) would give lead to 3.1k I-526 approvals per year and 9.1k EB5 visas if nothing changed. Probably that worst case might not be reached.
Also bear in mind that the last known use of EB5 in FY2010 of 1.9k stems from a period when receipts were 1/3 of the current level.
We already know that an estimated 2.1k were used in the first half of FY2011.
It is a little early to be sure, but I think we can probably expect much higher numbers of EB5 visas to be used in the future, especially as USCIS have put measures in place to speed up processing.
May not affect all H1 extensions
Reg effect on H1,in my opinion this would affect only those people who are on their 6th year of H1 and want to apply for Labor so that they can use it for H1 extension using AC21. This should not affect H1 extensions for people who already have Labor or who are in their 3rd year of H1 and want to extend to 6 years. Just my market depreciated 2 cents...
Quote:
Originally Posted by
Gclongwait
Not sure where you got this info. Per the HR of my company H1 are not affected by this.
Quote:
Originally Posted by
imechanix
Teddy,
Do you expect the porting demand to come down in next two quarters due to temporary suspension of Wage determinations processing by Department of Labor for H1-B extensions and PERM filings.
Thanks.