Rajiv's Comments in Financial Express - India’s EB-5 relief may reverse soon, expert warns of a ‘boomerang’ effect after May visa bulletin

Published by: Financial Express - April 16, 2026
https://www.financialexpress.com/immigration/indias-eb-5-relief-may-rev…

Quotes and Excerpts from Rajiv in the article:

What this EB-5 warning really means for Indian investors
Speaking to financialexpress.com, Rajiv S. Khanna, Managing Attorney at Immigration.com, said that the situation is already showing signs of rising pressure. “The State Department’s warning in Section E of the May 2026 Visa Bulletin is specific and deliberate. It says that “sufficient demand and increased number use by India in the EB-5 unreserved visa categories” may force the government to either retrogress the Final Action Date or make the category entirely unavailable for the remainder of FY 2026.

This is not a general caution applicable to all countries. It singles out India, and it is the first time this fiscal year that such a warning has appeared for the EB-5 unreserved category,” Khanna told financialexpress.com in an email conversation.

According to Attorney Khanna, “For Indian investors who have already filed I-526E petitions with priority dates at or near the current Final Action Date of May 1, 2022, the concern is straightforward. If the State Department retrogresses the date, say to January 2022 or earlier, those investors would no longer be eligible for final visa issuance or adjustment of status until the dates advance again, which may not happen until FY 2027 begins in October 2026. If the category is made “Unavailable,” the freeze is total; no Indian national can receive an unreserved EB-5 visa until the new fiscal year.”

According to Khanna, a part of the movement seen in employment-based visa categories this year, including EB-5 Unreserved, has been linked to lower visa issuance at US consulates.” Former State Department official Charles Oppenheim has publicly observed that these advances are likely ‘artificial’ and predicted a ‘boomerang effect’ of retrogression once those policies are relaxed or lifted. Indian investors should not assume that the current Final Action Date of May 1, 2022, represents a permanent baseline,” Khanna told Financial Express.

When could retrogression happen?
According to the Immigration attorney, retrogression could show up as early as the June or July 2026 Visa Bulletin. One of the biggest reasons is that the State Department is already in the latter part of the fiscal year, and visa numbers are limited. “When they specifically name a country and a category and state that the situation ‘will be continually monitored,” that typically means the numbers are already running close to the limit and action is imminent. We are in month eight of the fiscal year, which ends September 30, 2026, and the State Department must manage remaining numbers carefully to stay within the annual cap,” Khanna added.

What Indian investors are being advised now
Experts suggest that timing and category choice have become very important. Those who already have pending EB-5 Unreserved applications near current cutoff dates are being advised to move quickly with their next steps, including visa processing or adjustment of status where possible. “First, if you have a pending I-526E in the unreserved category and your priority date is at or before May 1, 2022, file your adjustment of status or complete your consular processing immediately if you have not already done so. The window may close within weeks,” Khanna advised.