Foreign investors are attempting to ride the US EB-5 horse before it bolts as fears the controversial visa program could be altered have sparked an application surge.
Applications have jumped 271 per cent in two years, from 6,554 in 2013 to 17,791 last year as mainly Chinese nationals look to secure permanent residency status.
The program requires an investment of $500,000 in a US approved regional centre employing 10 people or more, with visas granted in return.
The US Citizenship and Immigration Services figures show the growth has resulted in 21,988 pending applications, a backlog that could take more than five years to clear.
Applications by year
17,791 (2015) 11,744 (2014) 6,554 (2013)
Applications pending
21,988 (end of 2015) 5 year backlog
Applications by quarter
6,277 (Q1 2016) 2,941 (Q1 2015)
Approval rate
20% (Q1 2016) 56% (Q1 2015)
Visas issued
80% to Chinese investors
Minimum investment
$500,000
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