F-1 to EB-5 Visa: How Rich Indian Students in the US Seek Easier Green Card
By Surbhi Gloria Singh | New Delhi
Last Updated: June 12, 2025 | 5:54 PM IST
Indian families are rushing to file EB-5 investor visa petitions as the US tightens student and work visa rules and a proposed $5 million “Gold Card” looms.
Record Surge in Indian EB-5 Filings
An increasing number of Indian families are opting for the EB-5 investor visa route to secure permanent residency in the United States, as US President Donald Trump tightens controls on student and temporary work visas.
The EB-5 visa programme grants Green Cards to foreign nationals who invest $800,000 (approximately ₹7 crore) in a qualifying US business project. That investment must generate or preserve at least 10 jobs for US workers.
“In the first four months of FY2025 alone, Indian applicants filed over 1,200 I-526E petitions across reserved visa categories — more than any prior full year on record,” said Nicholas Mastroianni III, President and CMO of United States Immigration Fund (USIF), which operates EB-5 regional centres in the US.
According to data obtained through the Freedom of Information Act (FOIA) and published by the American Immigrant Investor Alliance (AIIA) in February 2025, total EB-5 petitions from Indian nationals since October 2022 have exceeded 1,790.
Year-wise Indian EB-5 petition filings:
- FY2020: Around 290
- FY2021: Between 80 and 100 (impacted by COVID-19)
- FY2022: Over 1,100 (post-Reform and Integrity Act revival)
- FY2023: Around 650–700
- FY2024: Around 600–700
- FY2025 (October 2024 to January 2025): Over 1,200
“Projections suggest India may cross 2,000 petitions by the end of FY2025 if current momentum continues,” Mastroianni added.
Who Is Applying, and Why?
According to CanAm Enterprises, which manages EB-5 projects, there is a growing number of Indian parents filing petitions while their children are still studying in the US. Previously, most applicants were professionals on H-1B visas or parents applying after graduation.
Piyush Gupta, Vice President for India and the Middle East at CanAm, explained:
“There’s a shift. More families are filing in the first or second year of the student’s undergraduate programme.”
Factors contributing to the urgency include:
- Risk of visa retrogression in reserved categories like rural and high-unemployment areas
- Fears over the proposed $5 million “Trump Gold Card” visa
- Stricter enforcement of F-1 student visa conditions
- Growing use of social media checks in visa adjudication
A Hedge Against Visa Uncertainty
“Indian parents are increasingly viewing EB-5 as a strategic insurance policy against the uncertainties of H-1B lotteries and student visa limitations,” said Varun Singh, Managing Director at XIPHIAS Immigration.
Gupta added:
“There is increasing scrutiny and unpredictability around temporary visa statuses. Parents are unwilling to let their children face decades of visa and work restrictions. EB-5 offers a more direct and secure alternative.”
He noted that concurrent filing is a major attraction. It allows applicants already in the US to submit both the EB-5 petition and Green Card application simultaneously — enabling them to work and travel while the case is pending.
“It’s not just about faster Green Cards. It’s about independence from lotteries, employers, and annual renewals. EB-5 puts families in control,” Mastroianni explained.
The Trump Gold Card Effect
The Trump administration’s plan to introduce a $5 million investor visa — dubbed the “Gold Card” — has further accelerated EB-5 applications.
Would the EB-5 still remain viable if replaced?
“Policy proposals come and go. EB-5 has statutory backing and any replacement would face legal scrutiny,” said Singh. “Still, a rise in costs or tighter rules could spark a short-term rush to lock in today’s benefits.”
Gupta highlighted the programme’s grandfathering provision, which ensures that petitions filed before September 30, 2026, will be processed under current rules.
“Even if policies change, those who file on time will be shielded. This provides long-term stability,” he said.
Protective Measures in Place
To address investor concerns, most regional centres use protected escrow accounts to hold funds until USCIS confirms receipt of the petition.
“If the petition isn't properly filed, the funds are refunded. These systems offer confidence and legal safeguards for investors,” Gupta explained.
Why Indian Families Are Acting Now
Recent developments in visa rules have shaped investor sentiment:
- In May 2025, the US Embassy warned that even minor academic violations could lead to immediate F-1 visa cancellations.
- SEVIS terminations are rising due to delays in reporting post-graduation work permits.
- Visa renewals now involve social media background checks, adding unpredictability.
“Families aren’t waiting for problems to arise. They're acting before Optional Practical Training ends or visa rules change,” said Mastroianni.
Advantages of the EB-5 Visa for Indian Students and Families
Mastroianni listed the main benefits:
- No employer sponsorship or lottery dependence
- Concurrent filing enables quick work/travel authorization
- Structured financing helps families comply with the RBI’s $250,000 Liberalised Remittance Scheme (LRS) cap
Drawbacks and Risks
Singh cautioned that the EB-5 programme carries investment and compliance risks.
“The $800,000 must be invested ‘at-risk’ for years. There are no guaranteed returns. Projects must meet USCIS job creation and compliance standards. Timelines can vary,” he said.
Gupta detailed investment types:
Debt-based investments: Offer predictable, modest returns (typically 0.25–0.5% annually) and clearer exit timelines (4–5 years).
Equity-based investments: Carry higher potential returns but are riskier, with no guaranteed payout or fixed timeline.
“Most seasoned investors choose debt models because of their predictability and seniority in repayment,” he added.
Legal challenges around source of funds and job creation requirements further add complexity.
Alternatives to EB-5
Singh explained that while EB-5 remains the only direct investment path to a Green Card, some alternatives exist.
“The E-2 visa is a common substitute, but India doesn’t have a treaty with the US. Some families obtain Grenadian or Turkish citizenship to qualify. Others explore EB-1C or EB-1A categories, though those are harder to qualify for.”
“No other route offers EB-5’s mix of clarity and control. Those who file early will benefit most if reforms tighten,” he said.
Mastroianni concluded:
“Why spend a decade waiting in line when you can secure permanent residency with confidence today? EB-5 isn’t just a visa — it’s a well-defined legal route for Indian families to settle in the US.”
