Is your Green Card at risk? EB-5 backlogs and Trump’s Gold Card plan explained

The US Department of State has released its latest Visa Bulletin, introducing major changes for foreign investors applying under the EB-5 Immigrant Investor Program. The Final Action Dates for India and China in the EB-5 Unreserved category have retrogressed, causing longer wait times for permanent residency (Green Cards). While investors from other countries remain unaffected, Indian and Chinese applicants now face delays that could extend by several years.

At the same time, former US President Donald Trump has proposed a $5 million 'Gold Card' residency program, offering a potential alternative for high-net-worth investors if approved.

Gold Card program: A possible new route for Indian investors

The Gold Card program proposes US residency through a $5 million direct investment into the US government, without the job creation requirements under the current EB-5 program. Although still in the proposal stage and requiring Congressional approval, this program may offer a faster and simpler path to US residency for Indian investors.


Trump stated, "The Gold Card will give investors a streamlined path to US residency while benefiting the American economy directly." Indian investors affected by EB-5 delays should closely monitor developments around this proposal.

What the March 2025 Visa Bulletin says

The March 2025 Visa Bulletin, released by the US Department of State, has introduced major retrogression for Indian investors under the Unreserved EB-5 category, pushing the Final Action Date back to November 1, 2019. This marks a delay of over two years compared to previous months, when India’s EB-5 category had advanced dates.

This retrogression means that only EB-5 applicants from India who filed on or before November 1, 2019, are eligible to proceed with their green card applications. All others must wait until the Final Action Date moves forward in future bulletins.

What is Visa retrogression?

Retrogression happens when the number of applicants from a country exceeds the available visa supply in a given year. The US government responds by moving the Final Action Date backward, creating a waiting line for applicants.

For Indian investors, this means significant delays in green card processing if they are in the Unreserved EB-5 category.

Who is not affected?

Indian investors applying under Reserved EB-5 categories, including Rural, High Unemployment, and Infrastructure projects, as these categories remain current with no waiting period.

Key points from the March 2025 Visa Bulletin

• India’s Final Action Date in Unreserved EB-5: November 1, 2019 (retrogression of more than 2 years).
• Reserved EB-5 categories remain current, offering faster green card processing.
• Investors filing after November 1, 2019, will experience delays until the date advances again.
• Trump’s proposed Gold Card: $5 million direct investment, offering an alternative if approved.

What should Indian EB-5 investors do now?

Indian EB-5 investors facing delays due to the retrogression should consider shifting their focus to Reserved EB-5 categories, such as Rural, High Unemployment, and Infrastructure projects. These categories are not affected by the backlog and remain current, meaning applicants can move forward without waiting for the Final Action Date to become current. Investing in Reserved categories may provide a faster route to securing a US green card.

It is also important for investors to regularly monitor the monthly Visa Bulletin published by the US Department of State. Since Final Action Dates can change based on visa demand and availability, staying updated will help investors understand when their applications might progress.

Indian investors should also explore alternative US visa options if they are impacted by the EB-5 delays. For instance, the L-1 visa allows executives and managers to transfer from an Indian office to a US branch of their company. The O-1 visa is suitable for individuals with extraordinary abilities in fields like business, science, arts, or education. These visas may offer temporary residency options while awaiting EB-5 processing.

Lastly, working with an experienced EB-5 immigration attorney is essential to navigate these delays and identify the best investment and immigration strategies. An attorney can ensure that all regulatory requirements are met, help avoid fraudulent projects, and provide guidance on using Reserved categories or alternative visa options. Professional advice is crucial to making informed decisions in light of these changes.