Five Asian Countries Leading in EB-5 Visa. What if Gold Card ?

In the realm of U.S. immigration, the EB-5 Immigrant Investor Program stands out as a pathway for foreign nationals to obtain permanent residency through substantial investment and job creation. Recent data from the first quarter of fiscal year 2025 (October–December 2024) reveals a significant surge in EB-5 visa issuances, with five Asian countries at the forefront of this trend.

According The Financial Express, U.S. consular offices worldwide issued a total of 4,608 EB-5 visas during this period, marking a remarkable 90% increase compared to the same quarter in the previous year.

Distribution of EB-5 Visas by Country of Origin

• China: Chinese nationals received 2,505 visas, accounting for 55% of total issuances. Invest In the USA
• Vietnam: Vietnamese investors secured 704 visas, representing 16% of the total.
• India: Indian applicants were granted 335 visas, making up 7% of the overall issuances base on Invest In the USA website.
• Taiwan: Taiwanese investors obtained 310 visas, also comprising 7% of the total.
• South Korea: South Korean nationals received 217 visas, accounting for 4% of the issuances.

Collectively, The Financial Express write these five countries contributed to 89% of all EB-5 visas issued in the first quarter of FY2025.

The EB-5 program, established by Congress in 1990, aims to stimulate the U.S. economy through job creation and capital investment by foreign investors. Base on, USCIS. over the years, the program has undergone several changes, particularly concerning investment thresholds and job creation requirements.

Investment Thresholds

• Prior to November 21, 2019:
  • New York Post write, Standard Investment gain $1,000,000
  • According EB5 Visa Investments Targeted Employment Areas (TEA) rich $500,000
• Effective November 21, 2019: Adjustments were made to account for inflation.
  • Standard Investment $1,800,000
  • TEA $900,000
• As of March 15, 2022: Further revisions were implemented.
  • Standard Investment: $1,050,000
  • EB5 Visa Investments data TEA note $800,000

Economic Impact of the EB-5 Program

The EB-5 program’s value goes far beyond individual investors. It plays a vital role in the broader U.S. economy by channeling foreign capital into projects that create meaningful employment opportunities across the country. Although comprehensive figures for the last three fiscal years are not publicly available, historical data illustrates the program’s substantial economic contributions.

According to a landmark study by the U.S. Department of Commerce, the EB-5 program generated an estimated $5.4 billion in investments and supported approximately 174,039 jobs during fiscal years 2012 and 2013 alone. This underscores the program’s potential in mobilizing large-scale foreign capital to stimulate economic growth in both urban and rural areas.

Investments under the EB-5 framework have been directed toward a wide range of sectors including commercial real estate, infrastructure development, energy, and healthcare. These projects are often located in Targeted Employment Areas (TEAs)—regions suffering from high unemployment or situated in rural zones—thus aligning capital deployment with socio-economic revitalization goals.

With the reauthorization of the EB-5 Regional Center Program under the EB-5 Reform and Integrity Act of 2022, new safeguards and transparency measures were introduced. These provisions aim to protect both investors and project developers, while reinforcing compliance with U.S. financial and immigration laws.

Global Alternatives to the EB-5 Program: Portugal, Canada, and Dubai

While the United States’ EB-5 Immigrant Investor Program remains a top choice for high-net-worth individuals seeking residency through investment, several other countries offer competitive alternatives. Programs in Portugal, Canada, and the United Arab Emirates (UAE) have gained traction in recent years as viable options for global investors. Here’s how they compare.

Portugal’s Golden Visa Program

The Portugal Golden Visa, officially known as the Residence Permit for Investment Activity (ARI), was launched in 2012 to stimulate economic growth through foreign investment. As of October 2023, the most common investment route is a minimum of €500,000 into a qualified investment fund, with 60% of that capital directed toward Portuguese companies.

One of its key advantages is the minimal stay requirement: investors are only required to spend 7 days in Portugal during the first year and 14 days every two years thereafter. After 5 years of legal residency, applicants become eligible to apply for Portuguese citizenship—provided they meet additional requirements such as language proficiency and clean criminal records (Harvey Law Corporation).

Canada’s Start-Up Visa Program

Canada offers a unique path to permanent residency through its Start-Up Visa program, which targets innovative entrepreneurs rather than passive investors. To qualify, applicants must secure a letter of support from a designated organization such as a venture capital fund, angel investor group, or business incubator in Canada.

The applicant’s business must be innovative, create jobs for Canadians, and demonstrate the potential to compete globally. Once accepted, both the entrepreneur and their family members receive permanent residence, making this an attractive choice for business-driven migrants seeking a foothold in North America’s innovation economy (Global Residence Index).

Dubai’s Golden Visa (UAE)

In the UAE, the government offers a 10-year renewable Golden Visa to investors, entrepreneurs, and professionals with exceptional talents. Investors can qualify by investing in real estate or businesses, while entrepreneurs must be founders of start-ups registered in the UAE with proven financial success.

The UAE Golden Visa allows holders to reside, work, or study in Dubai and other Emirates without the need for a local sponsor. Importantly, holders can remain outside the UAE for more than six consecutive months without losing residency status—a key flexibility feature not available in most other programs (U.AE).

Comparing with the U.S. EB-5 Program

The EB-5 program in the United States requires a minimum investment of $1,050,000—or $800,000 if the project is located in a Targeted Employment Area (TEA). In return, investors must create or preserve at least 10 full-time jobs for U.S. workers within two years of conditional residency.

Unlike the Golden Visa in Portugal or Dubai, EB-5 grants permanent residency (Green Card) upfront to the investor and their immediate family. However, the EB-5 carries a more rigorous compliance process, job creation thresholds, and longer adjudication timelines compared to some of its global counterparts.

Key Differences at a Glance:

Each country tailors its investor visa programs to suit its economic goals. While the U.S. EB-5 offers a direct path to a Green Card and eventual citizenship, its job creation requirements and long processing times may not appeal to every investor. On the other hand, Portugal and Dubai offer flexibility and lower residency obligations, while Canada provides a robust ecosystem for entrepreneurs.

The Rise of the “Gold Card”

In early 2025, the United States unveiled a bold new immigration proposal aimed at replacing the long-standing EB-5 visa program. Branded as the “Gold Card” visa, the initiative offers foreign investors a pathway to U.S. residency and eventual citizenship in exchange for a minimum investment of $5 million. The program, announced by former President Donald Trump, is designed to simplify the U.S. investor visa process while unlocking massive financial inflows into the American economy.

According to PBS NewsHour, the Gold Card seeks to attract the world’s wealthiest individuals, positioning the U.S. as a premium destination for global capital. It eliminates the job-creation requirement embedded in the EB-5 program and instead focuses entirely on capital commitment. The proposed price tag—$5 million per applicant—is notably higher than other residency-by-investment schemes worldwide, making it a program tailored for ultra-high-net-worth investors.

The financial potential of the Gold Card is enormous. Based on a projection by former President Trump, selling one million Gold Cards could raise $5 trillion in revenue. He asserted the funds could be used to reduce the U.S. national debt, which exceeded $34 trillion at the start of 2025 (Wikipedia). Within just one day of announcement, Commerce Secretary Howard Lutnick claimed that 1,000 Gold Cards had been sold, generating $5 billion in new investment capital for the United States (Forbes).

Several countries have expressed interest in the new program. According to Wikipedia, President Trump explicitly referenced “Russian oligarchs” as potential participants. Historically, citizens from China, India, and the Middle East have also made up a large share of applicants in similar U.S. programs like the EB-5, suggesting that the Gold Card may also appeal strongly to those regions’ elite investors.

However, the Gold Card proposal has sparked debate among policy analysts. According to Cato Institute immigration analyst David J. Bier, the plan would face legal obstacles unless explicitly authorized by Congress. As of now, green cards are issued under congressional authority, and selling them directly would bypass long-standing legal frameworks. Critics argue that the program, if not carefully structured, may undermine regulatory integrity or displace existing immigration priorities.

Unlike traditional investor programs that emphasize economic stimulation through job creation, the Gold Card program is purely investment-based. It represents a strategic shift in U.S. immigration philosophy—moving from labor impact to financial inflow. As the Biden administration and Congress deliberate over its implementation, the Gold Card could redefine the role of private capital in shaping America’s demographic and economic future.