Reid & Wise Achieves Groundbreaking Milestone For EB-5 Investors: First-Ever I-526E Approval under EB-5 Reserved Category
Wednesday, August 2nd, 2023, 12:47 amBREAKING NEWS, United States Citizenship and Immigration Services (USCIS) has approved its first-ever Form I-526E for a rural EB-5 project investor under the EB-5 Reform and Integrity Act of 2022 (the “2022 RIA”). “Sophie” Yuxia Zhang, Esq from Reid & Wise served as the EB-5 investor’s immigration counsel. This momentous achievement not only highlights Reid & Wise's exceptional legal representation of EB-5 investors but also underscores the advantages of investing in reserved EB-5 projects, including expedited processing and set-aside visas.
As one of the earliest I-526E petitions filed under the rural EB-5 project within the 2022 RIA, the current EB-5 I-526E petition was submitted on August 25, 2022. In less than 11 months, on July 18, 2023, the I-526E petition received approval without any Request for Evidence (RFE).
In the past, the adjudication process for EB-5 I-526 petitions had been notoriously protracted, with USCIS processing times averaging around 56.5 months for 80% of cases. However, this unprecedented approval of the I-526E petition in just 11 months highlights the unparalleled opportunity for both EB-5 investors and projects to benefit from priority processing, particularly in rural projects.
Reid & Wise has built a stellar reputation for successfully representing EB-5 investors in immigration matters and was instrumental in assisting these investors in demonstrating the source of their funds in I-526E petitions. Since the enactment of the 2022 RIA, Reid & Wise has been a staunch advocate for dozens of EB-5 investors in reserved EB-5 projects. This historic approval of the first-ever I-526E petition solidifies Reid & Wise's position at the forefront of the EB-5 bar.
Reid & Wise LLC, Chair of Immigration Department:
“Sophie” Yuxia Zhang, Esq.
yxzhang@reidwise.com
Category: News
