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The August 2025 Visa Bulletin may bring welcome news for EB-5 investors from China and India. After months of minimal advancement, final action dates (Chart A in the bulletin) for the unreserved EB-5 category have moved forward, unlocking visa availability during the final two months of the fiscal year 2025.

As reported in the August 2025 Visa Bulletin, the Department of State (DOS) has advanced the final action dates for China EB-5 unreserved to Dec. 8, 2015, and for India EB-5 unreserved to Nov. 15, 2019. The visa bulletin also says: “[rest of world] EB-5 number use has not materialized to the degree that was expected.” Since the rest of the world (ROW) demand remained low, visas were underutilized in the EB-5 unreserved category, potentially benefiting countries like China and India that are ready to absorb the additional unreserved EB-5 visas. As a result, the DOS is now reallocating these visas to high-demand countries like mainland China and India.

The EB-5 program continues to respond to global demand patterns. With ROW demand down, extra EB-5 visas are now flowing to China and India – offering an opportunity for investors from these countries to move forward in the queue.

As the 2024 federal fiscal year concludes, the U.S. Department of State (DOS) has released its highly anticipated October 2024 visa bulletin, ushering in the start of federal fiscal year 2025 and, with it, new immigrant visa numbers. For intending immigrants with backlogged priority dates, the annual influx of new immigrant visa numbers often offers at least some advancement in government processing or, ideally, the opportunity to become “current” for immigrant visa or green card processing. 

Digging deeper into the fifth preference (EB-5) categories, as anticipated in our July 2024 post, EB-5 immigrant visas remain available worldwide in the set-aside categories created under the EB-5 Reform and Integrity Act (RIA) of 2022. To recap briefly, of the 10,000 EB-5 visas available for issuance annually, the RIA created the following visa “set asides:”

  • 20% are reserved for qualified immigrants who invest in a rural area;
  • 10% are reserved for qualified immigrants who invest in a “targeted employment area” (TEA), which meets the requirements that apply to areas of high unemployment (unemployment rate of at least 150% of the U.S. national average); and
  • 2% are reserved for qualified immigrants who invest in infrastructure projects.

Immigrant visas based on approved I-526E Petitions that meet the requirements for the above set-aside categories remain “current” for processing, regardless of the applicant’s country of birth. This also means that EB-5 applicants in the U.S. with a pending or approved I-526E Petition based on an investment in the set-aside categories may concurrently file for adjustment of status (AOS) and related work and travel permits (“EAD/AP”). Likewise, for set-aside EB-5 applicants awaiting processing abroad, continued availability of immigrant visas keeps the path to visa issuance clear. Accordingly, applicants can obtain their visas after satisfying the National Visa Center’s documentary and eligibility requirements and completing the immigrant visa interview.

For EB-5 applicants qualifying based on pre-RIA or “unreserved” immigrant visa petitions (i.e. not eligible for the above set-aside categories), the visa bulletin similarly remains current for applicants born in most countries. The persistent exception is for applicants born in mainland China or India and applying based on an EB-5 investment in the unreserved category (as noted above, set-aside investments remain current worldwide, including for applicants born in China or India). Applicants born in mainland China or India remain backlogged due to demand outpacing the available supply. The visa bulletin displayed considerable progression in these categories under Chart A, or dates “for final action” (i.e. eligible for immigrant visa issuance by DOS once all requirements met):

  • EB-5 China, Unreserved: advances 7 months, to 15 July 2016
  • EB-5 India, Unreserved: advances 13 months, to 1 January 2022

The advancements reported under Chart A, however, are somewhat tempered by Chart B.  Specifically, Chart B reports stagnation or retrogression in connection with the government’s dates “for filing” for applicants born in mainland China or India. Briefly, the dates for filing chart reflects priority dates eligible for filing of Form I-485 in the United States, depending on government determination as to whether to utilize this chart, which is announced monthly, shortly after visa bulletin release. The specific updates in these categories under Chart B include:

  • EB-5 China, Unreserved: retrogresses 3 months, to 1 October 2016
  • EB-5 India, Unreserved: no movement, remains at 1 April 2022

Because the USCIS will rely on Chart B in October 2024, the lack of advancement in the EB-5 categories above means that many applicants may still be unable to progress to the next step of their green card process, including filing Form I-485, despite the promise of a new federal fiscal year. That said, applicants should keep in mind that transitioning into a new fiscal year often requires DOS to adjust available immigrant visas based on over-subscription that may have occurred at the end of the preceding year, when most immigrant visa numbers exhaust availability worldwide.  

Key takeaways for EB-5 investors from the October 2024 visa bulletin:

  • As was the case in our July update, a record number of EB-5 visas are available to applicants in both the high unemployment and rural area set-aside categories at the outset of FY 2025, regardless of country of birth.
  • Applicants eligible under the RIA set-aside categories may, regardless of country of birth, continue to concurrently file I-526E petitions and AOS applications in October 2024.

For unreserved EB-5 investors born in mainland China or India, while the October 2024 visa bulletin displays stagnation or retrogression in Chart B, the advancements in Chart A offer some hints of future progression. Importantly, unreserved EB-5 immigrant visa processing can continue at consulates worldwide beginning October 1, 2024.

By statute, the Office of the Citizenship and Immigration Services Ombudsman submits an Annual Report to Congress by June 30 of each year. The Office of the Ombudsman’s Annual Report provides a summary of the most pervasive and serious problems encountered by individuals and employers applying for immigration benefits with U.S. Citizenship and Immigration Services (USCIS) and reviews past recommendations to improve USCIS programs and services.

The Office of the Ombudsman’s 2021 Annual Report details that the pandemic compounded USCIS’ already-strained processing and fiscal situation, with the agency now experiencing backlogs of applications and petitions “at record levels,” as well as drastically reduced “customer service functions.” The aforementioned is in most part due to temporary office closures, reduced staffing, and lack of end-to-end electronic processing capabilities for many benefit types. Near-total shutdown of the agency’s offices in March 2020 also significantly affected already-low receipts and fee revenue insufficient to cover operating costs and led to mass cancellation of in-person interviews, biometrics appointments, and oath ceremonies.

The Office of the Ombudsman’s 2021 Annual Report details that USCIS field offices were only gradually reopened at limited capacity—with reduced services and fewer staff—starting in June 2020. All USCIS field offices were open by October 2020 but were offering services at only about 50% capacity at that time. As a result, backlogs and processing times grew substantially throughout 2020. Due to temporary office closures and reduced staffing, USCIS cancelled roughly 280,000 interviews at the start of the pandemic. But the agency lacked the staff to reschedule all of these interviews in a timely fashion because, even after reopening, application support centers were operating at 65% or 70% capacity at best. According to USCIS statistics, approximately seven million applications and petitions were pending as of March 31, 2021. Additionally, the report states that the agency’s backlog was significantly exacerbated for two reasons: first, applicants and petitioners rushed to file before a proposed fee increase was due to take effect Oct. 2, 2020 (although the increase was never actually implemented); and second, after the new fiscal year began on Oct. 1, 2020, thousands of applicants filed all at once when their priority dates became current. Since USCIS offices were still operating at reduced staffing levels during October 2020, there were not enough personnel to process all the new applications and petitions.

The Office of the Ombudsman’s 2021 Annual Report makes a number of recommendations as to how the agency can best work through its backlog, first recommending that the agency not rely entirely on fees to fund its operations, as fees are inherently unpredictable. The report recommends some combination of fee revenue and congressionally appropriated funding to enable the agency to effectively improve operational deficiencies. The Biden administration agrees that USCIS requires additional funding, and President Biden’s first budget allotted $350 million to USCIS for backlog reduction purposes. On June 30, 2021, the House Appropriations Committee approved the fiscal year 2022 Homeland Security funding bill, which included $474.5 million for USCIS, an increase of $346.7 million above the fiscal year 2021 enacted level. However, until this bill is passed, USCIS may struggle to resolve its backlogs and processing time delays. The Office of the Ombudsman’s 2021 Annual Report also details that USCIS has made strides in expanding online filing and digital adjudications, but its goal of an end-to-end electronic strategy has yet to be fully achieved.

The State Department recently published the July 2021 Visa Bulletin. In the July 2021 Visa Bulletin, the final action priority date for EB-5 Vietnam moved forward significantly to April 1, 2020. This means that an EB-5 investor born in Vietnam who filed an I-526 Petition on or before March 31, 2020, may have a visa number immediately available on July 1, 2021, and can process for a conditional green card upon I-526 Petition approval. This significant advance will make the majority of all pending and approved I-526 petitions for investors born in Vietnam “current,” meaning there is no visa backlog.

July 2021 Visa Bulletin

Importantly, the EB-5 Regional Center program is set to expire on June 30, 2021, and therefore the “5th Regional Center (I5 and R5) currently says “U” for unavailable.  Division O, Title 1, Section 104 of the Consolidated Appropriations Act, 2021 extended the Regional Center program until June 30, 2021. The Visa Bulletin states that EB-5 immigrant visas based on an approved I-526 Petition affiliated with a regional center may be issued until close of business on June 30, 2021, and may be issued for the full validity period. No EB-5 immigrant visas may be issued overseas, or final action taken on adjustment of status cases, after June 30, 2021, until the EB-5 Regional Center program is reauthorized by Congress.

On May 31, the Congressional Hispanic Caucus announced, “Following CHC Request, GAO Agrees to Open Investigation into Record-Breaking Immigration Case Backlog at USCIS,” in which Chairman Castro stated the following:

My colleagues in the Hispanic Caucus and I look forward to reviewing GAO’s findings. We must ensure that USCIS is meeting its Congressional mandate and is adjudicating cases in a timely manner.

The full text of the U.S. Government Accountability Office letter can be found here.    

There has been increased dialogue on visa backlogs in recent weeks. See USCIS Responds to Bipartisan Senate Letter Regarding Case Processing Delays and USCIS Releases 2018 Statistical Annual Report

In May, EB-5 practitioners were unpleasantly surprised by a USCIS publication of dramatically increased adjudication times for I-526 petitions from 21 to 29 months to 29 to 45.5 months

The GAO estimates it will take five months to assemble the required team to conduct the analysis. In the interim, to engage in this process, interested stakeholders can contact GAO through the team members cited in the congressional correspondence.

Please check back, as updates on this and other matters are frequently posted.

On May 6, 2019, Charles Oppenheim, chief of the U.S. State Department Visa Control and Reporting Division, presented at the IIUSA Conference in Washington, D.C. on the state of visa backlogs for EB-5 immigrant visa applicants. Mr. Oppenheim reported on a number of important issues summarized in this blog.

Between approximately Oct. 1, 2018, and April 30, 2019, a total of 5,077 EB-5 immigrant visas were issued to applicants and their dependent family members for fiscal year (FY) 2019. In general, applicants born in mainland China used less visa numbers this year than the rest of the world, while applicants born in Vietnam and India have used 10% or more EB-5 visa numbers this fiscal year as compared to the last fiscal year. There are approximately 10,000 immigrant visas available for applicants in the EB-5 category each fiscal year.

Mainland China-Born Applicants

Applicants born in Mainland China have historically used most of the EB-5 visas. As a result, China has the longest wait time for an EB-5 visa. The State Department anticipates that around 3,660 “unused” visa numbers from FY 2019 will be made available to Mainland China-born applicants with the earliest priority dates.

Moreover, the State Department does not expect significant movement in the Visa Bulletin at the start of the next fiscal year for Mainland China-born investors. Mr. Oppenheim stated that the October 2019 Visa Bulletin will advance the priority date for Mainland China-born applicants to between Oct. 8-15, 2014. For those filing an I-526 Petition today, the expected wait time could be about 16 years. However, according to Mr. Oppenheim, the wait time for applicants who filed before May 6, 2019, is expected to be less.

Vietnam-Born Applicants

Mr. Oppenheim explained that Vietnam continues to be the country with the second highest EB-5 visa demand, behind Mainland China. In FY 2018, Vietnam used 7.2% of all EB-5 visas. In FY 2019, Vietnam is expected to use 10.7% of all EB-5 visas. Additionally, Vietnamese investors tend to have more derivative beneficiaries than other countries (which include a spouse and children under 21), and therefore less visa numbers are available overall for principal applicants. The State Department expects that the October 2019 Visa Bulletin will advance the priority date for Vietnam-born applicants to between Nov. 22, 2016 to Dec. 15, 2016. For new applicants filing an I-526 Petition today, the expected wait time could be approximately seven years, but Mr. Oppenheim was clear that this length of delay does not reflect the wait time for applicants who filed before May 6, 2019.

India-Born Applicants

Mr. Oppenheim expects to institute a cutoff date in the Visa Bulletin for the first time in July 2019 for applicants born in India, although this could occur in June 2019. If so, there will likely be an alert regarding this in the June 2019 Visa Bulletin. Accordingly, EB-5 visa applicants born in India with an approved I-526 Petition should take steps to expedite their case with the National Visa Center to have an interview scheduled and a visa issued as soon as possible. Likewise, India-born EB-5 visa applicants with an approved I-526 Petition who are in the United States in valid nonimmigrant status should take immediate action to file Form I-485.

Between July and September 2019, the State Department expects to retrogress immigrant visa availability to Indian-born EB-5 investors.; it is also expected that the October 2019 Visa Bulletin will advance the priority date for India-born applicants to between Summer 2017 and Fall 2017. For new applicants filing an I-526 Petition today, the expected wait time could be up to eight years, but Mr. Oppenheim was clear that this length of delay does not reflect the wait time for applicants who filed before May 6, 2019.

Rest of the World and Additional Information

The State Department indicated that all other countries will remain current through the end of FY 2019. Mr. Oppenheim made clear that any information provided is just an estimate of the backlog wait times, which cannot and do not account for all variables. Further, the Visa Bulletin predictions do not take into account I-526 Petition withdrawals or revocations, deaths, children aging out, and many other factors, all of which result in availability of immigrant visas to EB-5 applicants. Importantly, these predictions also do not take into account any changes that could happen through statute, new regulations, or other government action.

For more on visa backlog updates, click here.

The EB-5 Immigrant Investor Program remains a powerful pathway to U.S. permanent residency while supporting economic growth and job creation. 2026 is a pivotal year: grandfathering protections under the Reform and Integrity Act (RIA) remain available, fee adjustments are pending, and USCIS adjudication trends continue to evolve. Investors who act strategically—by filing early, documenting comprehensively, and monitoring compliance—may be best positioned for success.

I-526 Filing (Initial Petition & Investment)

1. Leverage grandfathering before program changes
Investors may wish to file their I-526 forms before Sep. 30, 2026, to lock in current investment thresholds and TEA benefits under the RIA before any new regulations or fee increases take effect.

2. Act before potential price hikes
Following a late 2025 court-ordered fee reduction, filing now allows investors to take advantage of lower EB-5 filing fees.

3. File early to avoid retrogression delays
Visa backlogs in set-aside categories (TEA, rural, and infrastructure) remain a concern, particularly for applicants from China and India. Early filing may secure investors’ priority dates and position them ahead of future cut-off dates.

4. Submit a well-documented petition
Investors may wish to work with counsel to organize timelines, source-of-funds evidence, business registrations, and tax documentation. Clear documentation may reduce the likelihood of receiving Requests for Evidence (RFEs).

5. Provide comprehensive tax filings
Include seven years of U.S. and foreign tax returns—or official proof of no tax obligations—to meet regulatory requirements.

6. Include complete business registration records
Corporate filings, licenses, shareholder agreements, and proof of good standing for all entities generating EB-5 funds are essential.

7. Reconsider older source-of-funds documentation
Funds originating many years ago are harder to verify and may contain gaps. Given increased USCIS scrutiny, consider providing more recent source-of-funds evidence.

8. Exercise caution with loans
Loans from the New Commercial Enterprise or any entity associated with the Regional Center may trigger USCIS scrutiny. Investors may wish to discuss any such loans with counsel in advance.

9. Avoid installment funding
USCIS currently disfavors phased contributions. Full upfront funding might reduce the likelihood of RFEs or denials, particularly when seeking grandfathering protection.

10. Document all capital transfers thoroughly
Investors should consider maintaining wire confirmations, bank statements, and reconciliations in order to ensure traceable, auditable transfers.

11. Address Communist Party membership proactively
Discuss any membership in the past five years with counsel and consider selecting the optimal primary applicant to avoid eligibility issues.

12. Perform rigorous due diligence on Regional Centers and projects
Verify USCIS approval, financial stability, construction timelines, and job creation projections. Investors may wish to work with a U.S.-licensed broker/dealer or business advisor.

Adjustment of Status (AOS) / Consular Processing

13. Consider concurrent filing strategically
Concurrent I-526 and AOS filing may provide work authorization and travel flexibility for applicants in the United States on valid nonimmigrant status. Confirm eligibility and timing with counsel.

14. Maintain underlying visa status
Fallback status prevents unlawful presence if an applicant’s EB-5 petition is denied and may allow alternative green card options or appeals to be filed.

15. Track visa bulletin movement and country-specific limits
Retrogression may occur, particularly for China and India. Monitor the visa bulletin monthly to ensure timely AOS or consular filing.

16. Keep documentation organized for consular interviews
Investors should have their I-526 approval, tax filings, investment records, and corporate documentation ready for review.

17. Expect potential delays due to security checks
Background checks and name matching may slow processing, so investors may wish to build extra time into their planning.

18. Disclose status violations, unauthorized work, or criminal issues proactively
Applicants may wish to discuss any potential issues with counsel early to prevent denials or complications.

19. Apply for a Reentry Permit for extended travel
U.S. permanent residents must maintain at least 180 days of residence annually. For planned absences longer than 180 days, a Reentry Permit allows up to two years abroad without risking green card status.

20. Renew EAD and AP documents proactively
For AOS applicants, investors may wish to file extensions at the 180-day mark to avoid work or travel interruptions, as automatic extensions have been discontinued.

I-829 / Removal of Conditions

21. Prepare early for I-829 filing
Maintain communication with the Regional Center to track project completion, job creation, and capital investment from I-526 through I-829. Alert counsel to any delays or issues promptly.

22. Align I-829 filings with original investment documentation
Cross-check I-829 submissions against I-526 to avoid inconsistencies that might trigger RFEs.

23. Consider mandamus for excessive I-829 delays
Mandamus litigation might be an effective tool to compel USCIS action when processing times exceed norms.

24. Plan travel around the I-829 receipt notice
Filing an I-829 extends conditional permanent resident status and provides up to 48 months of work and travel authorization. Investors may wish to avoid international travel until the receipt notice is issued, as it is required for reentry.

Naturalization Planning

25. Track residency requirements for U.S. citizenship
EB-5 investors may apply for naturalization five years after receiving the conditional green card. Maintain detailed records of physical presence and residence after conditional green card approval.

26. Prepare early for the naturalization interview and civics/English test
USCIS has increased the number of questions and expectations for passing. Begin study and preparation well in advance of eligibility.

2026 might be a strategic year for EB-5 investors. With grandfathering protections still available, potential fee increases on the horizon, and heightened scrutiny on compliance, proactive planning is essential. Investors who file early, maintain comprehensive and organized records, monitor Regional Center and project compliance, and address potential issues with counsel in advance may be best positioned for success. Approaching each stage of the EB-5 lifecycle—from I-526 filing, through AOS or consular processing, I-829 removal of conditions, and eventual naturalization—with diligence and foresight may help investors navigate evolving regulations and optimize their path to U.S. residency and citizenship.

The January 2026 Visa Bulletin appears to deliver positive developments for employment-based immigration, with notable forward movement across most categories. Both Final Action Dates (Chart A) and Dates for Filing (Chart B) reflect improved visa availability, and USCIS will continue accepting adjustment-of-status applications under Chart B for January.

EB-5 (Unreserved) Highlights

  • China (Mainland-Born)
    • Final Action Dates: Advanced from July 15, 2016, to Aug. 15, 2016 (31-day progression);
    • Dates for Filing: Moved to Aug. 22, 2016, marking a similar one-month gain.
  • India:
    • Final Action Dates: Jumped from July 1, 2021, to May 1, 2022;
    • Dates for Filing: Jumped to May 1, 2024, a 761-day advancement, the largest among EB categories.
  • All Other Countries: Remain current for EB-5 unreserved visas, with no backlog.

Reserved EB‑5 Categories

All three set-aside categories, Rural, High Unemployment, and Infrastructure, remain current in both charts, with no retrogression.

Implications for EB-5 China Applicants

While China’s one-month advancement may seem modest compared to India’s leap, it represents steady progress for a category historically burdened by long backlogs. For investors who have been waiting for years, even incremental movement may be meaningful.

Key Takeaways

  • Priority Date Eligibility: For applicants whose EB-5 priority date is before Aug. 15, 2016, their petitions are now eligible for approval under the current bulletin. However, eligibility does not guarantee approval in January; it simply means a case may proceed when a visa number is available and all processing steps are complete.
  • Adjustment of Status Filing: Applicants with priority dates before Aug. 22, 2016, may file under Chart B, as USCIS continues to accept filings based on projected visa availability. Processing timelines will depend on USCIS workload and visa number allocation.
  • Consular Processing (Outside the United States): If applicants are abroad and their priority dates are current under the Final Action Dates chart (e.g., before Aug. 15, 2016), the National Visa Center (NVC) can schedule their immigrant visa interviews once their cases are documentarily qualified. Timelines vary based on NVC scheduling and consular appointment availability.

EB-5 investors may see these advancements as a promising start to 2026, particularly those from China and India. The advancements suggest continued momentum in employment-based immigration.

For more details, please refer to the Visa Bulletin for January 2026.

The United States has introduced a new immigration pathway aimed at attracting ultra-high-net-worth individuals: the Gold Card Program, created by Executive Order 14351 in September 2025. Because this program arises from executive action rather than an act of Congress, it operates outside the traditional statutory framework that governs the EB-5 immigrant investor program. As a result, it presents both opportunities and legal uncertainties for prospective applicants.

Below is a detailed analysis of the Gold Card program’s structure, requirements, risks, and how it compares to the long-established EB-5 investor visa category.

What the Gold Card Program Is—and Why It Is Different

Unlike EB-5, Congress did not enact the Gold Card. It is an executive initiative, implemented solely through presidential authority. That distinction has significant implications:

  • It may be modified, suspended, or rescinded by a future administration.
  • It does not include statutory grandfathering protections. Investors who begin the process today do not have guaranteed eligibility if the program is later withdrawn or struck down by a court.
  • It relies on existing immigrant categories (EB-1A and EB-2 NIW) for visa issuance, meaning adjudications may still need to satisfy the regulatory standards for extraordinary or exceptional ability in the national interest. For example, EB-1A normally requires the applicant to have “sustained national or international acclaim.” Exceptional ability EB-2 normally requires the applicant to have an advanced degree and meet other criteria, in addition to meeting the requirements for a National Interest Waiver.

In effect, the Gold Card overlays a financial-contribution model onto existing immigrant visa frameworks, creating a hybrid program that blends donation-based residency incentives with employment-based visa adjudications.

Key Features of the Gold Card

Although the Gold Card uses employment-based categories, the distinguishing elements relate to its funding mechanism, processing model, and tax-related incentives.

Donation Model: Applicants must make a non-refundable “gift” to the U.S. government:

  • $1 million per individual applicant, including each family member; or
  • $2 million for corporate-sponsored applicants, plus $1 million per dependent; and
  • $15,000 USCIS processing fee per person.

Unlike EB-5, the funds are not invested, do not carry job-creation obligations, and are not returned under any circumstances.

New Fast-Track Petition: Form I-140G

The program introduces Form I-140G, a petition similar to a premium-track I-140 but tied to visa availability. Petition processing may be completed in weeks, but immigrant visa issuance still depends on priority date movement and the applicant’s country of birth. Applicants born in certain countries may still experience long wait times for the immigrant visa due to existing EB-1 and EB-2 visa backlogs.

No Adjustment of Status

Significantly, Gold Card applicants must process through a U.S. embassy or consulate abroad. The program explicitly bars Adjustment of Status, eliminating the ability to apply from within the United States. It is unclear why.

Platinum Tier

A forthcoming $5 million Platinum contribution offers extended U.S. presence (up to 270 days annually) and preferential tax treatment on foreign-source income. It does not provide permanent residency; rather, it functions as a long-term entry and tax-benefits privilege for globally mobile individuals.

Navigating Requirements and Process

Although the Gold Card avoids the rigorous EB-5 job-creation framework, it still requires detailed documentation.  The current process appears as follows:

  1. Source and Path of Funds: Applicants must prove lawful origin of the gifted amount, consistent with employment-based immigrant standards. It appears the source and path of funds requirements is similar to EB-5 standards.
  2. Filing of Form I-140G with the donation documentation and fees.
  3. USCIS Adjudication under EB-1A or EB-2/NIW standards.
  4. Consular Processing and visa issuance once the priority date is current.

The reliance on EB-1 and EB-2 legal standards introduces a substantive evaluation that some high-net-worth individuals may not expect; the financial contribution does not necessarily override statutory eligibility requirements.  Further clarification on this point is required from USCIS.

Comparison to the EB-5 Immigrant Investor Program

Created by Congress in 1990, EB-5 remains the only statutory investment-based pathway to a U.S. green card. It requires:

  • $800,000 investment in a Targeted Employment Area (TEA) or $1,050,000 outside a TEA.
  • Creation of 10 full-time U.S. jobs.
  • Capital at risk throughout the investment period.
  • Eligibility for Adjustment of Status and concurrent filing inside the United States.
  • Access to grandfathering protections for those who apply before Sept. 30, 2026, under the Reform and Integrity Act.

EB-5’s core advantages are family coverage, permanence, and legal stability. Its disadvantages are longer timelines and the need to satisfy job-creation and project-risk requirements.

Side-by-Side Analysis

AspectGold Card (EO 14351)EB-5 Investor Visa (Statute)
AuthorityExecutive order; vulnerable to legal challenge and repeal; no grandfatheringCongressional statute; RIA provides statutory grandfathering through Sept. 30, 2026
Cost$1M per family member; $2M if company-sponsored; $5M Platinum tier; $15k per person filing fee$800k–$1.05M investment covers entire family
Family CoverageEach family member pays full gift and feeOne investment covers spouse and children under 21
RefundabilityNoneInvestment generally returnable after project exit or if petition is denied
RequirementsNo job creation or business risk; gift treated as government donationMust create 10 full-time jobs; capital must remain at risk
TimelinePetition may be processed within weeks; visa issuance tied to EB-1/EB-2 backlogsFour to six years typical for permanent residency
Green Card OutcomePermanent residency unless program is repealedTwo-year conditional residency, then permanent upon I-829 approval
Preference CategoryEB-1A or EB-2/NIWEB-5
Process(1) Register on trumpcard.gov, (2) File I-140G, and (3) Consular process only(1) File I-526E, (2) AOS or consular, and (3) File I-829 after two years

Sample Cost Comparison: Family of Six

The contrast in total cost is stark:

Gold Card

  • Donation: $1,000,000 × 6 = $6,000,000
  • USCIS fees: $15,000 × 6 = $90,000
  • Total: $6,090,000

EB-5

  • Investment: $800,000 (TEA)
  • USCIS fees: $3,675
  • Total: $803,675

For large families, the Gold Card’s per-person model makes it more expensive than EB-5.

Practical Considerations for Investors

While the Gold Card potentially offers speed and eliminates job-creation risk, the program presents legal and strategic uncertainties:

  • Regulatory durability is weak compared to EB-5’s statutory foundation.
  • Visa availability remains tied to EB-1 and EB-2 demand, meaning individuals from high-demand countries may still face backlogs.
  • The high per-person cost may outweigh benefits for families.

EB-5, despite its longer timeframe and job-creation obligations, aims to provide stability, family efficiency, and an established statutory framework—elements some investors value when making long-term relocation plans.

The Gold Card represents an untested pathway for those seeking rapid U.S. residency through financial contribution. EB-5 remains the more established, predictable option for investors prioritizing statutory protection, family coverage, and long-term stability. The optimal route depends on the applicant’s priorities: speed and simplicity versus durability and cost efficiency.

The Department of Homeland Security (DHS) has announced a policy change impacting thousands of noncitizen workers and their employers across the United States. In an interim final rule released this week, DHS ended the practice of automatically extending employment authorization documents (EADs) for certain categories of applicants who file renewal requests.

Beginning Oct. 30, 2025, noncitizens who submit EAD renewal applications will no longer receive an automatic extension of their employment authorization while their renewal is pending, with limited exceptions. This change marks a shift from prior policy and may require both employees and employers to adjust their compliance and workforce planning strategies accordingly.

What the New Rule Does

Under previous DHS regulations, certain EAD renewal applicants automatically received up to a 540-day work authorization extension while their applications were being processed. The new interim final rule eliminates that automatic extension for most EAD categories.

DHS explains that this change is intended to “prioritize proper screening and vetting” of all EAD applicants before extending their authorization to work. According to USCIS Director Joseph Edlow, the goal is to strengthen national security by ensuring that “appropriate vetting and screening has been completed before an alien’s employment authorization or documentation is extended.”

Key Exceptions

While the automatic extension policy is being rolled back broadly, DHS has outlined limited exceptions, including:

  • Extensions provided by statute, such as for certain pending asylum applicants,
  • Extensions issued through Federal Register notices, for example, Temporary Protected Status (TPS) designations that include automatic EAD extensions, and
  • Extensions for F-1 STEM OPT students, which ICE, instead of USCIS, controls.

This rule will not affect EADs already extended automatically before Oct. 30, 2025.

What This Might Mean for Noncitizen Workers

Noncitizen employees who rely on an EAD to work in the United States should plan ahead carefully. USCIS recommends filing renewal applications up to 180 days before the current EAD expires to minimize the risk of losing work authorization during the adjudication process. Because automatic extensions will no longer apply, a delayed renewal filing may result in a temporary lapse in employment authorization, potentially interrupting income and creating complications with employers’ Form I-9 compliance.

What This Might Means for Employers

Employers who hire and retain noncitizen employees under EAD-based work authorization may wish to prepare for procedural and compliance changes. The end of automatic EAD extensions means that employees with pending renewals will no longer be authorized to work once their current EAD expires, unless they fall under one of the limited exceptions. Employers may wish to be proactive in updating their Form I-9 compliance procedures and tracking systems to account for the elimination of automatic EAD extensions. Employers should also consider:

  • Identifying employees whose work authorization is tied to EADs and assessing whether they may be impacted by this change,
  • Notifying affected employees of the new renewal timeline,
  • Updating Form I-9 for affected employees to reflect any changes in work authorization and ensure continued compliance with federal employment eligibility requirements, and
  • Preparing for potential employment gaps if renewals are delayed.

Employers may wish to avoid employing individuals whose EADs have expired and are no longer valid under the new rule.

Conclusion

This policy change underscores DHS’s renewed emphasis on national security and vetting in employment authorization adjudications. However, it also introduces practical challenges for both employers and noncitizen workers, particularly given ongoing USCIS processing backlogs.

To navigate this change effectively, EAD holders impacted by the rule should consider:

  • Filing renewals as early as possible (180 days before expiration),
  • Tracking case progress through USCIS online tools, and
  • Seeking legal guidance if they anticipate a lapse in work authorization.