THE U.S. DOES NOT CARE ABOUT INVESTMENTS ANYMORE???
For the third quarter of 2016, USCIS approved 1,660 I-526 Petitions and denied 433 I-526 Petitions. This corresponds to a 79 percent approval rate in the third quarter. For the fiscal year 2016 through June, USCIS approved 4,781 of I-526 Petitions and denied 1,442 of I-526 Petitions. 30% is the highest denial rate since EB-5 program was established.
There are a few reasons which are guessed to affect that:
- The USCIS change in policy when adjudicating an investor’s source of funds originating from a loan. In 2015 and throughout 2016, USCIS has consistently denied I-526 Petitions where the investor’s source of funds originated from a loan that was not fully secured by the investor’s own personal property.
- Evidence of investments’ legal source needs to be provided to the immigration authorities. USCIS has been reaching further back in time when sending requests for evidence on an investor’s source of funds, sometimes requiring investors to provide employment and asset information for some 20-30 years.
There is also an increase of denials of I-829 by a significant percentage not explained by any reason.
Finally, as of June 2016, there are 19,406 I-526 Petitions pending at USCIS and there are 5,522 I-829 Petitions pending at USCIS, USCIS Immigrant Investor Program Office Director Nicholas Colucci stated during recent stakeholders meetings that USCIS has hired a large staff to tackle the backlog.