The annual cap for EB-2 visas for fiscal year 2024 has been reached, the US Department of State has confirmed.
It means that US embassies and consulates will not issue more Employment-Based Second Preference visas (EB-2 visas) until October 1, 2024, VisaGuide.World reports.
The annual cap for EB-2 visas, set by the Immigration and Nationality Act (INA), is 28.6 per cent of the worldwide employment-based visa limit, or 140,000 visas per year.
Therefore, employers will have to wait until the next fiscal year when it comes to hiring foreign talents through the EB-2 visa program.
Through the pause period, employers have the opportunity to prepare for the fiscal year 2025. Workers interested in EB-2 visas are required to wait for the new fiscal year in order to apply or resume their visa process.
Through the E-2B visa, foreigners are eligible to move permanently to the United States, work in their field of expertise, and enjoy the rights of Green Card holders.
By obtaining an E-2B visa, their holders are eligible to travel in and out of the US, change jobs after a few years and move legally within the US.
E-B3 Annual Cap for FY 2024 Reached
Last month, the State Department announced that all Employment-Based Third Preference (E-B3), as well as Other Workers (EW) and Employment-Based Fifth Preference categories, were issued for fiscal year 2024.
The E-B3 visa category permits US employers to sponsor foreign workers for permanent residence, and it consists of three categories: skilled workers, professionals and unskilled workers.
These kinds of visas help the US to deal with labor shortages noted in several industries, such as healthcare, where the demand is significantly high.
The EB-5 visa is an immigrant visa that allows internationals to obtain a green card by investing a minimum amount in a US business that creates or preserves ten full-time jobs for US workers.
Significant Delays in Highly Skilled Immigrant Visas
A Green Card or a US permanent resident permit allows internationals to move legally to the United States. There are several categories of Green Cards from which foreigners can benefit, including family-sponsored and employment-sponsored visas, among others.
However, foreigners are subject to significant delays when wishing to benefit from these visas.
Last month, it was reported that more than one million Indians are waiting in US-employment-based immigration backlogs as a result of problems in the US immigration system.
These conclusions were reached through the data provided by the United States government.
According to the statistics from the United States Citizenship and Immigration Services, a significant number of Indians are subject to decades-long wait times to obtain permanent residence through a green card. The delays are also the result of low annual quotas for other countries.