As restrictions tighten on H-1B and student visas under the Trump administration, a growing number of Indians are opting for investment-based US residency — especially the EB-5 visa programme.
The interest comes amid anticipation of a new $5 million residency visa initiative, dubbed the “Gold Card,” announced by President Donald Trump in February. While details and a launch date remain under wraps, a US government website promoting the program is already collecting user signups, stating: “The Trump Card is Coming.”
Surge in EB-5 Applications from India
In the absence of clarity on the Gold Card, the existing EB-5 program has seen unprecedented interest from Indian applicants. According to the American Immigrant Investor Alliance (AIIA), demand from Indian nationals has sharply risen since April 2024, partly due to increasing restrictions on temporary work and student visas.
Nicholas Mastroianni III, President and CMO of the United States Immigration Fund (USIF), said that over 1,200 I-526E petitions — the application form for EB-5 — were filed by Indians in the first four months of FY2025 (October 2024–January 2025). “That’s more than any previous full year,” he was quoted by a leading English daily.
EB-5: A Fast-Track Route to US Residency
The EB-5 visa offers a pathway to a US green card for foreign investors who invest at least $1,050,000 (₹9 crore), or $800,000 (₹6.88 crore) in Targeted Employment Areas (TEAs), which are economically distressed zones. Applicants must also create jobs for American workers. The program extends benefits to the investor’s spouse and unmarried children under 21.
Originally created by the US Congress in 1992, the program was revamped in 2022 to include more flexibility and tighter oversight on sources of funds. Since then, applications from wealthy Indian families have grown significantly.
Why Indians Are Choosing EB-5
Immigration experts point to multiple factors behind the surge in EB-5 applications:
- Long delays and backlogs in other immigration categories like H-1B and family-based green cards. Over 11 million applications are currently pending.
- Reduced student visas: US State Department data shows a 43.5% drop in student visas issued to Indians in the first half of FY2025 (October–March) compared to the same period in 2024.
- Increased EB-5 visa issuance: In FY2024 (October 2023–September 2024), 1,428 EB-5 visas were granted to Indians, nearly doubling from 815 the previous year. For comparison, only 96 EB-5 visas were issued to Indians in 2014.
Between October 2024 and March 2025, 649 EB-5 visas were issued to Indians through consular processing, indicating that many filings from FY2022–23 have now matured.
Growing Use of EB-5 Within the US
Many Indians already residing in the US — such as students or those on H-1B visas — are also applying under the EB-5 program. Sukanya Raman, country head of immigration law firm Davies & Associates, told a section of the media that this group forms the bulk of new adjustment of status applications.
Applicants who file the I-526E from within the US now receive automatic work and travel permits within 3–6 months, valid until their green card is approved, Raman added.
Mumbai Emerges as a Key Hub
Most consular applications by Indian EB-5 investors are routed through the US consulate in Mumbai. Out of 638 unreserved consular EB-5 filings between October 2024 and May 2025, 543 were filed via Mumbai, reflecting strong interest from high net-worth individuals in the region.
India is now the second-largest source of EB-5 applicants globally, after China. Between FY2022 and July 5, 2024, Indian citizens filed 1,341 I-526E petitions, with 1,057 under the reserved EB-5 categories, California-based immigration attorney Ravneit Kaur Brar has been quoted saying in a section of the media.
Brar noted that India’s EB-5 approval rate has improved significantly — rising from 59% in FY2022 to 82% in FY2024.
Processing Timelines Vary by Project Type
The time from filing to visa approval varies depending on the type of investment project. Rural area projects typically take 8–24 months, while high-unemployment area projects can take 12–30 months.
Gold Card Buzz Boosts EB-5 Momentum
Rather than slowing down interest, the proposed Gold Card has actually increased demand for EB-5 visas, Mastroianni was quoted in the media. “The uncertainty around future programs and growing scrutiny of traditional visa routes have made Indian investors act now — not later.”
“The EB-5 program has evolved from being an alternative option to becoming the preferred strategy for securing US residency,” he added. “Families are now prioritizing stability and long-term security, especially with the risk of visa retrogression and the option to apply from within the US.”
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