USCIS released its EB-5 statistics for FY 2017 Q2 and it reveals interesting information for the Form I-525 and Form I-829 filings.
The good news is that the EB-5 statistics for FY 2017 Q2 shows that the approval rates for Form I-526 and Form I-829 are both over 90%.
The data for the Form I-526 shows that there was a significant drop in filings in Q2 (January - March 2017). However, this is not unexpected as the past few quarters have seen an unusually high amount of filings. USCIS received 1, 731 petitions in Q2, whereas they received 4,395 in Q1.
The processing times have continued to slow. USCIS processed fewer petitions this quarter than the previous quarter, and that increases the backlog.
The statistics for Form I-829 also show a drop in filings. Although the reason is not clear, one suspicion is that investors are giving up due to long processing times.
The good news is that USCIS processed roughly 200 more Form I-829s than the previous quarter, however, there is still a backlog.
If you're interested in more information regarding EB-5 statistics for FY 2017 Quarter 2, send us a message.