Vietnam EB5 to Become Oversubscribed in April 2018

In the Visa Bulletin for April 2018, the U.S. Department of State (DOS) explained that the Vietnam Employment Fifth preference (EB5) category will become oversubscribed in May 2018 [PDF version]. This will result in the establishment of a final action date for Vietnam EB5.

Interestingly, in the March 2018 Visa Bulletin, the DOS projected that Vietnam would reach the per-country EB5 limit during March and necessitate a final action date for April [PDF version]. However, in the April 2018 Visa Bulletin, the DOS explained that the return of unused February EB5 numbers had been much higher than the DOS expected. The DOS attributed this to uncertainty over the extension of the EB5 program created by temporary extensions of the program connected to broader budget negotiations. It added that “many applicants did not have sufficient advance notice to enable them to appear for their February interview, which could have been expected to result in the use of visa numbers.” Notwithstanding the one month reprieve, the DOS stated unequivocally that “[t]he oversubscription of this category will definitely occur in May.”

The news of the impending oversubscription for Vietnam EB5 is noteworthy on two levels. For one, approved EB5 petitions for nationals of Vietnam will be subject to a final action date starting in May 2018 and for the duration of the fiscal year. Second, because this was caused by high demand in the Vietnam EB5 category, this trend may continue going into the future, causing Vietnam EB5 petitions to face sometimes long wait times before visa interviews abroad or being able to apply for adjustment of status within the United States.

Filing an EB5 petition and applying for an EB5 visa is a complex and evidence-intensive process. EB5 petitioners are well-advised to consult with an experienced immigration attorney for case-specific guidance.

To learn more about the visa bulletins discussed in this article, please see our posts on the March 2018 Visa Bulletin [see blog] and the April 2018 Visa Bulletin [see blog].