Wealthy Indians rush to secure EB-5 Visas amid uncertainty over Trump's Gold Card Plan

Affluent Indians are increasingly applying for the EB-5 visa to the United States, following former US President Donald Trump's proposal of a "Gold Card" for immigrants at a cost of $5 million—significantly higher than the $800,000 required for the EB-5 programme, which offers permanent residency.

"We are witnessing a surge in EB-5 visa applications. Our office is overwhelmed with inquiries as many applicants are rushing to submit their I-526E petitions before any potential changes to the existing rules," said Sukanya Raman, India country head at Davies and Associates LLC, as quoted by the Economic Times.

Uncertainty remains over whether Trump's proposed Gold Card would replace the EB-5 programme.

With rapid shifts in immigration policies under a potential second Trump administration, applicants fear a limited window to act, prompting them to expedite their EB-5 applications, industry experts said.

Legal experts pointed out that while Trump has suggested "selling" the Gold Card, he has not clarified whether it would be granted in exchange for a $5 million investment.

"Instead of committing such a large sum, the EB-5 visa remains a viable alternative," said Poorvi Chothani, managing partner at LawQuest.

So far, the Gold Card remains a concept without details on implementation or eligibility criteria. Any changes to existing immigration policies would require approval from Congress, an expert noted.

Under the EB-5 programme, foreign nationals must invest in US businesses and generate at least 10 full-time jobs per investor. "The EB-5 programme remains a well-established and legally backed pathway to a Green Card and eventual US citizenship," said Alex Jovy, an immigration advisor at Davies and Associates.

While Trump's Gold Card proposal primarily targets ultra-high-net-worth individuals (UHNIs) and investors rather than skilled professionals, its high cost makes it unlikely that companies would use this route to recruit talent, analysts observed.

The programme's long-term viability would depend on corporate participation and legal considerations, they added.