In a significant announcement that has sent shockwaves through the investment immigration community, President Donald Trump declared yesterday his intention to replace the long-standing EB-5 immigrant investor visa program with a new "Trump Gold Card" initiative.
The Gold Card Proposal
Speaking from Washington D.C. on February 25, President Trump outlined his vision for this new investment immigration pathway: "We're going to be selling a gold card. You have a green card. This is a gold card. We're going to be putting a price on that card of about $5 million, and that's going to give you green card privileges, plus it's going to be a route to citizenship."
The proposed Gold Card would come with a price tag 6.25 times higher than the current EB-5 program's $800,000 investment requirement. According to the President, this program would target elite global investors who can bring substantial capital into the American economy.
"Wealthy people will be coming into our country by buying this card. They'll be wealthy, and they'll be successful, and they'll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it's going to be extremely successful," Trump added.
Criticism of the Current EB-5 Program
Commerce Secretary Howard Lutnick, who accompanied the President during the announcement, delivered pointed criticism of the existing EB-5 program, describing it as "full of nonsense, make believe and fraud" and calling it a "low price" route to securing green cards.
Lutnick emphasized that the new Gold Card program would target a different caliber of investor: "We're going to make sure they're wonderful world-class global citizens."
The President added that the program would focus on "people with money and people that create jobs," suggesting that job creation requirements would remain a component of the new investment pathway.
Timeline and Implementation Challenges
While the announcement was bold in its vision, the path to implementation remains complex. The President indicated that additional details would be provided in two weeks, but significant legislative hurdles exist.
The EB-5 program was established through legislation and can only be amended or terminated through new legislative action requiring approval from both chambers of Congress. Immigration policy changes typically require a 60-vote majority in the Senate, where Republicans currently fall short of that threshold.
This creates uncertainty about the administration's ability to enact these changes through executive action alone, potentially setting the stage for legal challenges should the President attempt to suspend the existing EB-5 program unilaterally.
Implications for Current and Prospective EB-5 Investors
The Regional Center EB-5 Program is currently set to expire on September 30, 2027, with the Reform and Integrity Act providing grandfathering provisions for I-526E visa petitions filed before September 30, 2026.
For investors considering the EB-5 route, this announcement creates significant time pressure. Those wishing to pursue immigration through the current $800,000 investment threshold may need to accelerate their plans to file visa petitions before any changes take effect.
As the situation develops, prospective investors are advised to consult with immigration attorneys specializing in investment visas to understand how these proposed changes could affect their immigration plans.
The administration is expected to release more detailed information about the Gold Card program in the coming weeks, which should provide greater clarity on implementation timelines and transitional provisions for existing applicants.
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