Donald Trump’s Gold Card vs EB-5: What’s changing, and what Indians should choose

Former US President Donald Trump’s announcement of a new investment-based Gold Card visa has unsettled many existing EB-5 investors, raising concerns about the future of the program. While the EB-5 visa has long been a popular route for high-net-worth individuals seeking a US green card, Trump's new pathway promises a faster track to residency and citizenship, for a hefty $5 million price tag.

For Indian investors stuck in long employment-based green card backlogs, EB-5 had been an attractive alternative. Now, many are re-evaluating their options, fearing the program’s potential replacement.

Gold Card vs. EB-5: What’s different?

The EB-5 visa requires a minimum investment of $1.05 million (or $800,000 in Targeted Employment Areas) and mandates the creation of at least 10 full-time US jobs. In contrast, Trump’s Gold Card requires a direct $5 million payment to the US government, with no job creation requirement.

The EB-5 process is lengthy, but it offers permanent residency and a path to citizenship. Meanwhile, the Gold Card aims to fast-track both residency and citizenship, although details remain vague.

Another key difference: The EB-5 program is capped at 18,786 visas annually, whereas the Gold Card could be unlimited, catering exclusively to ultra-high-net-worth individuals (UHNWIs).

Why Indians are skeptical

Despite the promised faster process, many Indians remain hesitant to switch from EB-5 to the Gold Card, citing:

• High Cost: The $5 million price tag makes it one of the most expensive investor visa programs globally. Other options, such as Malta’s residency for $650,000, are far more affordable.
• Limited Corporate Adoption: Experts believe US companies are unlikely to sponsor employees via this costly route.
• Legal & Ethical Concerns: Immigration attorney Alay Razvi noted, “It can be perceived as selling US citizenship to the highest bidder, raising ethical concerns.”
• Uncertain Viability: Immigration lawyer Rajiv Khanna remains unconvinced, stating, “I’m unsure about the paying capacity of the people who will participate in this program.”

Will Trump’s Gold Card replace EB-5? 

While Commerce Secretary Howard Lutnick suggested that the Gold Card could replace EB-5, immigration experts assert that Trump cannot unilaterally terminate EB-5.

"Trump cannot unilaterally end the EB-5 program. It was created by Congress in 1990 and is codified in the Immigration and Nationality Act. Any attempt to eliminate or replace it requires legislative action, an unlikely scenario in a divided Congress," explained an immigration attorney.

Furthermore, investments made up to September 2026 remain fully protected. Even if changes are proposed, Congress must approve them, making abrupt termination highly unlikely.

While Trump’s Gold Card visa targets the ultra-wealthy, the EB-5 program remains a viable pathway for high-net-worth individuals seeking US residency through investment. With Congress unlikely to dismantle EB-5 anytime soon, investors are advised to stay informed but not panic.