EB-5 Visa Statistics by Country: Vietnam Ranked Second Worldwide in FY2024
Fiscal year 2024 marked a milestone for the EB-5 Immigrant Investor Program, the U.S. green card route for investors, with EB-5 visa issuance reaching a record high. The EB-5 visa statistics by country show Vietnam in second place worldwide, behind only mainland China.
Fiscal year 2024 marked a milestone for the EB-5 Immigrant Investor Program, the U.S. green card route for investors, with EB-5 visa issuance reaching a record high. The EB-5 visa statistics by country show Vietnam in second place worldwide, behind only mainland China.
*EB-5 visas are generally issued by a U.S. consulate in the investor’s country of residence when the applicant is outside the United States, or by U.S. Citizenship and Immigration Services (USCIS) when the applicant is already in the United States and files for Adjustment of Status (AOS). The figures in this article cover only EB-5 visas issued through consular processing.*
EB-5 visas issued in fiscal year 2024
U.S. fiscal year 2024 ran from October 1, 2023, through September 30, 2024. On August 16, 2024, however, the U.S. Department of State — which issues visas abroad, while U.S. Citizenship and Immigration Services (USCIS) handles cases filed inside the United States — announced that the annual limit for EB-5 visas in the unreserved category, the allocation shared across all project types, had been reached for the year.
In total, 12,059 EB-5 visas were issued through U.S. consulates — the highest annual figure in the history of the EB-5 program. Of these, 12,055 were unreserved EB-5 visas. Monthly EB-5 issuance peaked between May and August 2024, when 6,086 visas — more than 50% of the year’s total — were issued in those four months alone. Fiscal year 2024 was also the first year in which reserved EB-5 visas were issued through consular processing, with 4 visas issued under the high-unemployment area set-aside.
Monthly EB-5 visa issuance in fiscal years 2023 and 2024 (Source: IIUSA)
Vietnam remains among the leading countries for EB-5 visa issuance
In fiscal year 2024, a total of 1,467 EB-5 visas were issued to investors from Vietnam, or 12% of EB-5 visas issued worldwide. Of these, 1,463 were unreserved EB-5 visas. Notably, the 4 reserved visas used during the year were all issued by the U.S. Consulate General in Ho Chi Minh City to EB-5 investors from Vietnam.
Top 10 countries by unreserved EB-5 visas issued in FY2024 (Source: USCIS and IIUSA)
Two factors widened the per-country EB-5 allocation in fiscal year 2024. Family-sponsored visas left unused in 2023 were carried over into the fiscal year 2024 employment-based limit, which in turn raised the number of EB-5 visas available, and reserved EB-5 visas left unused in 2022 and 2023 were carried forward into 2024. As a result, the EB-5 allocation available to each country rose to roughly 1,561 visas — close to double the usual per-country limit. That total broke down into 569 reserved visas, for rural area projects, high-unemployment area projects, and infrastructure projects, and 992 unreserved visas, shared across all project types.
Normally, EB-5 visas left unused by countries with lower demand are reallocated to oversubscribed countries such as China. In fiscal year 2024, however, Vietnam — which is not an oversubscribed country — received 1,463 unreserved EB-5 visas, far above its per-country allocation of 992 and more than double the figure for third-ranked India (733), which has faced oversubscription for several years.
IMM Group reads these figures as a constructive signal: visa availability in the EB-5 immigrant visa category has been favorable for applicants from Vietnam. Neither the Department of State nor U.S. Citizenship and Immigration Services (USCIS) allocates EB-5 visas by preference for any one country; the pattern above follows from how the annual quotas are distributed. With reported processing times for EB-5 petitions also shortening, this looks like a reasonable window for investors weighing an EB-5 petition to pursue a U.S. green card for the whole family. Outcomes depend on the facts of each case, and we recommend reviewing yours with an independent immigration attorney.
Two EB-5 projects in focus
1. Expansion of a green hydrogen production plant among the largest in North America
New Fortress Energy’s green hydrogen plant sits within the Port Arthur industrial complex in Texas, one of the largest energy hubs in the United States.
Green hydrogen is a clean energy source with broad industrial applications. U.S. federal policy currently supports its development, and projects of this type are eligible for federal tax incentives. Phase 1 began construction in 2020. Phase 2 is now expanding the infrastructure to double the plant’s capacity to 200 MW.
According to the project materials, the plant’s entire green hydrogen output has been contracted under an offtake agreement, and Phase 1 has received Form I-956F approval from USCIS, which the sponsor describes as a favorable starting point for Phase 2. Capital for the project is managed by CanAm, a regional center operator that has worked in investment migration since 1987. As with any EB-5 investment, the capital must remain at risk under U.S. law, and neither a green card nor the return of capital can be guaranteed.
2. Vail Valley Apartments luxury residential project
Vail Valley Apartments is a 242-unit luxury residential development in the town of Avon, in Colorado’s Vail Valley. The project is located in a rural targeted employment area, which qualifies it for the rural EB-5 set-aside, and its capital is managed by the regional center EB5 Capital.
The site sits close to Vail Ski Resort, one of the best-known ski destinations in the United States. Vail Valley is also an established upscale residential community, yet housing supply there remains tight. The project can therefore draw on housing demand from local residents as well as year-round visitor traffic.
If you are considering a U.S. green card through the EB-5 Immigrant Investor Program, contact IMM Group. Our experienced advisory team will walk you through the program in detail and help assess the prospects of your case. We treat your personal data as confidential and use the information you provide only to advise on your family’s case.
