Project updates
We are pleased to announce that our All Points North “APN” rural project recently received its Form I-956F approval in just 7 weeks. This is significantly faster than most I-956F approvals which tend to take around 8 months for rural applications (see below). The reason for the fast adjudication was due to the national interest nature of the investment which qualified it for expedited processing.
We now have three projects that have I-956F approvals:
- Scout (High Unemployment TEA), a biotech company that has developed proprietary technology for in-home tests that allows for early detection of infections.
- Copper Valley (Rural TEA), a master plan community in northern California
- All Points North (Rural TEA), a world class behavioral health company based outside Vail, Colorado
We are offering early investor incentives for both our approved rural projects.
Copper Valley
- Copper Valley is an $80.5m mixed-use development consisting of townhomes, commercial and recreational facilities in Copperopolis, CA
- Rural northern California location within a 2-hour drive from Bay area
- Strong Collateral: $32m EB-5 investment backed by a pledge of assets and secured by first position mortgage
- Construction to begin in Q4 ’24
All Points North (APN)
- APN is a world-class provider of mental and behavioral health care based outside Vail, Colorado
- This is a $121m expansion of their flagship facility which is currently operating at full capacity
- Their innovative care approach has resulted in leading outcomes and a robust per patient revenue model, averaging approximately $90,000 per client
- Since its founding in 2018 APN has experienced rapid growth and is projected to generate $70m in revenue in 2024
- With over $100 million secured from private equity firms, APN is positioning itself for a potential sale that could significantly enhance the returns for EB-5 investors
Learn more about our projects at EB5 Visa Fast
EB-5 Related News
While USCIS does not provide processing times for I-526E applications, IIUSA has taken the initiative to bridge this information gap. Collaborating with a number of regional centers, including EB5 Coast to Coast, IIUSA has gathered and analyzed an extensive database of processing times for I-526E and I-956F applications. With their consent, we can share that the initial analysis reveals average processing times of 8 months for rural I-956Fs and 10 months for rural I-526Es. In contrast, projects in high unemployment areas show longer processing times, averaging 13 months for I-956Fs and 14 months for I-526Es.
Despite these promising timelines, a backlog is emerging as USCIS struggles to keep up with the surge in post-RIA filings. By the end of June, only about 760 petitions had been processed out of over 5,600 post-RIA submissions. Nonetheless, industry authority Suzanne Lazicki points out several encouraging signs in her blog that suggest processing volumes may soon improve.
Firstly, there has been a recent uptick in I-956F processing, with 100 approvals in Q3 (April – June), a crucial development as these pave the way for I-526E approvals. Furthermore, the near-resolution of the pre-RIA I-526 backlog suggests that a substantial number of adjudicators could soon be redirected to focus on post-RIA cases. As Suzanne Lazicki highlights, “USCIS processed nearly 6,000 I-526 petitions over the past year, and maintaining this level of productivity could swiftly eliminate the I-526E backlog.”
Team Travels
Upcoming team travels include Q Sadriu visiting GIIS Expo in Turkey, Carel van der Merwe attending an IREX conference in New Delhi and Harry Rhee attending an event in Chengdu, China. Please reach out if you’d like to meet with us.
