The U.S. Department of State has announced that the unreserved category of EB-5 immigrant investor visas has reached its annual limit for fiscal year 2025, effective as of mid-September. As a result, no new EB-5 unreserved visas will be issued by U.S. consulates or approved for adjustment of status until the new fiscal year begins on October 1.
This USCIS/DOS action affects the portion of the EB-5 program allocated under the unreserved visa categories (known by their codes C5, T5, I5, R5, RU, NU), which make up about 68% of EB-5 visas. It also includes unused reserved visas carried over from prior years, in accordance with the EB-5 Reform and Integrity Act of 2022.
For EB-5 applicants, this means that unless they are applying under one of the reserved subcategories (i.e. targeting rural areas, high-unemployment areas, or infrastructure projects), they must wait until October to proceed. The backlog remains heavy for nationals of countries with high demand; for example, the “Final Action Date” for China remains in December 2015, while India has advanced but is still subject to a long wait.
While the annual cap reflects steady demand for the investor-immigrant pathway, the pause underscores how quickly visa numbers are being exhausted. The reset on October 1 offers a fresh start, but applicants planning for EB-5 under unreserved categories are advised to act early and to explore set-aside categories that remain current to avoid delay.
