An IIUSA report reviewing USCIS I-526 stats for these two quarters (Q2 stats were curiously not available) show interesting trends. Besides India becoming number one for filings, Chinese filings plummeted, and several markets spiked in activity including Nigeria, South Africa, and Mexico.
The big news is India taking over the top spot from China. Vietnam remained solidly in third place yet again. Two other East-Asian nations rounded out the top five list with South Korea and Taiwan following the big three.
The top two countries, both in retrogression, fell the most with Chinese I-526 filings plummeting 76%, and Vietnamese filings dropping steeply as well with a 42% decrease.
India FY2018 filings: 508 FY2019 filings: 726 YOY increase: 218 (43%)
Nigeria FY2018 filings: 35 FY2019 filings: 91 YOY increase: 56 (77%)
South Africa FY2018 filings: 26 FY2019 filings: 54 YOY increase: 28 (108%)
Mexico FY2018 filings: 37 FY2019 filings: 54 YOY increase: 17 (46%)
Argentina FY2018 filings: 5 FY2019 filings: 17 YOY increase: 12 (240%)
Columbia FY2018 filings: 12 FY2019 filings: 21 YOY increase: 9 (75%)
Hong Kong FY2018 filings: 22 FY2019 filings: 31 YOY increase: 9 (41%)
Falkland Islands FY2018 filings: 18 FY2019 filings: 26 YOY increase: 8 (44%)
Turkey FY2018 filings: 14 FY2019 filings: 20 YOY increase: 6 (43%)
India not only had the most I-526 filings of any country but the greatest year-over-year increase as well. Two African nations, Nigeria and South Africa, had the next greatest increases with 56 and 28, respectively. The recent observation of many stakeholders that Central America and South America are emerging markets is borne out by Mexico and Argentina showing double-digit filing increases.
Indian adjudications went up in Q1 & Q3 of FY2019 versus those two quarters in FY2018, increasing to 311 from 201. South Korea had a strong increase from 101 to 134 adjudications year over year for those two quarters. Mexico increased from 23 to 32 adjudications. South Africa had a small bump from 20 to 25.
Otherwise, for the rest of the world, adjudications decreased during Q1 and Q3 FY2018 from 405 to 262 in FY2019. China had the greatest decline by far dropping from 6,170 adjudications for those two quarters in FY2018 to only 2,075 for Q1 and Q3 FY2019.
While the 2019 processing numbers have been down, potential investors should take heart that USCIS — as promised earlier in the year has recently posted some dramatic processing increases for FY2020 Q2, doubling the output the agency delivered in Q1.
South Korea enjoyed a near-perfect 98% I-526 filing approval rate. The next highest approval rate from a country with a substantial number of I-526 filings was South Africa with 92% approvals. The global approval average was 81%. China fell below that number with a 78% approval rate. Cleary, investors from South Korea are doing something Chinese investors are not, either with their investment project selections, source of funds or the opacity of the investor’s backgrounds.
Read the IIUSA report “2019 Q1 & Q3 EB-5 Investor Market Trends”
- OR -
2 Best Answers
1 Best Answers
3 Best Answers
0 Best Answers