With China’s monopoly on the US EB-5 visa program easing in recent years, America’s investment immigration category has witnessed a steady rise in demand from other markets, including Vietnam, India, Taiwan, and Brazil.
While China still dominates in terms of absolute numbers, India has been fastest to move into EB-5 regression, with demand jumping in a span of three years.
This clearly indicates the program’s popularity among India’s wealthy citizens, as well as IT and other professionals working in the US and seeking a fast, predictable, and transparent route to the coveted green card.
EB-5 Demand Growing in Other Countries
Analysis of data between fiscal years 2017 and 2019 shows a spurt in demand for the EB-5 in many countries.
Applications from Saudi Arabia, Iraq, and Libya rose from effectively zero in 2017 to 43, 36 and 22 respectively in 2019.
The countries showing a steady rise between 2017 and 2019 were spearheaded by South Africa, Britain and Japan followed by Egypt and Turkey.
Central and South American countries are also utilizing their EB-5 quotas in larger numbers. Venezuela tops this list with 172 visas in 2019, falling from 237 in 2018. Other rising countries include Mexico and Argentina, along with Brazil, already considered an EB-5 hotspot along with India, Vietnam and Taiwan.
EB-5 Visas Awarded By Country of Citizenship
| FY 2017 | FY 2018 | % Change | FY 2019 | % Change | 2017-19 Change % | |
| Venezuela | 108 | 237 | 119.44% | 172 | -27.43% | 59.26% |
| Hong Kong | 81 | 200 | 146.91% | 167 | -16.50% | 106.17% |
| Mexico | 85 | 174 | 104.71% | 138 | -20.69% | 62.35% |
| South Africa | 53 | 91 | 71.70% | 120 | 31.87% | 126.42% |
| Britain | 82 | 84 | 2.44% | 97 | 15.48% | 18.29% |
| Japan | 37 | 66 | 78.38% | 96 | 45.45% | 159.46% |
| Nigeria | 89 | 113 | 26.97% | 93 | -17.70% | 4.49% |
| Turkey | 27 | 69 | 155.56% | 82 | 18.84% | 203.70% |
| Russia | 115 | 134 | 16.52% | 71 | -47.01% | -38.26% |
| Argentina | 13 | 25 | 92.31% | 60 | 140.00% | 361.54% |
| Egypt | 17 | 45 | 164.71% | 59 | 31.11% | 247.06% |
| Pakistan | 22 | 103 | 368.18% | 58 | -43.69% | 163.64% |
| Saudi Arabia | 1 | 15 | 1400.00% | 43 | 186.67% | 4200.00% |
| Iraq | 0 | 29 | 2900.00% | 36 | 24.14% | 3600.00% |
| Libya | 0 | 0 | 0.00% | 22 | 2200.00% | 2200.00% |
Pakistan registered a significant 368 percent jump between 2017 and 2018, although demand tapered by around 44 percent to 58 visas awarded in 2019.
Despite fluctuations between individual years, only Russia saw its EB-5 utilization fall between 2017 and 2019, dropping from 115 visas in 2017 to 71 visas in 2019.
Nigeria registered the lowest increase between the three years of just 4.5 percent, from 89 to 93 EB-5 visas.
FY 2020 will have skewed numbers due to the increase in minimum investments and the COVID-19 pandemic. Yet, the steady rise in demand across different continents and different types of economies shows that the EB-5 visa is a popular choice for wealthy investors across the world.