U.S. Department of State Announces EB-2 Visa Quota for Fiscal Year 2024 Fully Exhausted

September 13:
The United States Department of State made the announcement that all of the EB-2 visas for fiscal year 2024 have been awarded. Until the new fiscal year starts on October 1, 2024, no more visas will be given under this category. Doctors, scientists, engineers, and other medical professionals, as well as those with advanced degrees, are eligible for the EB-2 visa. The Immigration and Nationality Act (INA) limits the yearly issuance of visas in each category based on employment due to the strong demand.

The EB-2 category has now met its yearly quota of 28.6 percent of the overall worldwide employment-based visa allocation for fiscal year 2024.This development signals a temporary halt to the visa process for U.S. corporations pursuing skilled overseas workers through the EB-2 program. Before the start of the fiscal year 2025 on October 1, employers are required to postpone the submission or continuation of visa applications for their candidates. During this time, businesses can get their visa applications in order so they are ready for the next round of processing when it begins.

The same holds true for foreign nationals seeking EB-2 visas; the upcoming fiscal year is the only time to resume or begin this process, especially for individuals in highly specialized occupations. All visas under the Employment-Based Third Preference (EB-3), Other Workers (EW), and Employment-Based Fifth Preference (EB-5) categories have been allocated for this fiscal year, just like this pause.

Professionals from other countries who have a master's degree or above, or who demonstrate extraordinary talent in a particular area (such as the arts, sciences, or business), are eligible for the EB-2 visa. An offer of employment from a U.S. firm proving that no other suitable American candidates are available for the post is required in order to be eligible.

The EB-2 visa is in high demand because it is one of the employment-based categories with the fastest processing times. But there's still an annual cap, and FY 2024 is already over it. The USCIS has recorded 419,392 individuals as principals in the EB-2 category as of November 2, 2023. The overall number of Indians in the EB-2 backlog stands at 838,784, with a further 419,392 dependents, according to the National Foundation for American Policy (NFAP).