FY 2020 I-829 full year stats now available: highest adjudications ever for EB-5

In the recently published USCIS stats for fiscal year 2020, one number jumps out for I-829 processing: 2,771 petitions were adjudicated in fiscal year 2020, the highest ever for EB-5. The I-829 approval rate was 95%, very much in line with the past several years, indicating that the vast majority of applicants are successful.FY Received Adjudicated Approval Rate Pending2013 1,217 888 95% 1,3452014 2,516 1,781 90% 2,0752015 2,767 1,078 99% 4,0492016 3,474 1,860 95% 6,3092017 2,625 2,644 98% 6,7352018 3,283 2,714 96% 7,6602019 3,756 1,733 94% 9,7992020 3,096 2,771 95% 10,304I-829 processing looking positive going forwardA very positive sign is that FY 2020 adjudications were up by 1,038 from the year prior. With a more immigration-friendly Biden administration in place, many industry stakeholders are hoping for even better processing times going forward. Alejandro Mayorkas leading the Department of Homeland Security is also another cause for optimism as Mayorkas is regarded as very supportive of the program and should improve processing efficiency.While the 10,304 pending I-829 petitions is the highest number ever for EB-5, with current processing rates remaining the same, it would take about 2.7 years to process those applications. However, improved processing, due to new leadership as well as grossly reduced I-526 receipts, could lower that amount of time significantly.