President Trump’s “Gold Card” Proposal And The Future Of EB-5

[Editor2]

On 25 February 2025, President Donald Trump announced his intention to launch a new “Gold Card” program, offering a pathway to U.S. citizenship in exchange for a $5 million investment.


According to the administration, the proposed Trump Gold Card would replace the 35-year-old EB-5 Immigrant Investor Program within weeks. Commerce Secretary Howard Lutnick framed the initiative as a way to eliminate fraud risks in the existing EB-5 process. Notably, Trump’s announcement made no mention of job-creation requirements, which are the cornerstone of the EB-5 program, and suggested the “Gold Card” could be implemented without congressional approval.

---

Can the EB-5 Program Be Terminated?​

A key legal question arises: Can President Trump actually terminate EB-5?

• In 2022, Congress reauthorized the EB-5 Regional Center Program through 2027 under the EB-5 Reform and Integrity Act.
• U.S. immigration law is under the authority of Congress, meaning outright termination of EB-5 would require new legislation.

In practice, this means the “Gold Card” is more likely to operate alongside EB-5 rather than replace it. The proposal suggests a model that is closer to a donation-based citizenship pathway aimed at ultra-high-net-worth individuals (UHNWIs), rather than the job-creation investment model EB-5 requires.

---

A Global Trend in Investment Migration​

Trump’s announcement mirrors shifts seen in other parts of the world:

• The UK terminated its investment-based residency program in 2022.
• Several EU residency-by-investment programs have been curtailed or adjusted.
• Many Caribbean citizenship-by-investment schemes have tightened eligibility standards.

If implemented, the Gold Card could position the U.S. with a two-track investment migration system:

1. EB-5 for investors contributing to job creation and development projects.
2. Gold Card for UHNWIs making substantial financial commitments with fewer operational requirements.

---

What This Means for EB-5 Investors​

For individuals considering EB-5, the current program remains active and advantageous:

• All nationalities, including India- and China-born investors, are current in certain expedited regional center projects, enabling faster green card issuance.
• Once an I-526E petition is filed, applicants benefit from grandfathering protections under the EB-5 Reform and Integrity Act, ensuring eligibility even if the program changes.
• These protections extend through September 2026, giving investors a stable window of opportunity despite political shifts.

---

Key Takeaway​

While the Trump Gold Card has generated significant attention, the EB-5 program remains firmly in place. Investors should view the proposal as a potential supplementary pathway for UHNWIs rather than an immediate replacement.


For those weighing their options, now is a strong time to file an EB-5 petition, as doing so secures both current benefits and long-term protections under existing law.

 

[sophia_l]

From a policy analysis standpoint, this “Gold Card” proposal raises several red flags. The EB-5 framework is statutory — it can’t simply be replaced by executive order. Even if implemented, it would likely operate alongside EB-5, not as a substitute. The lack of job-creation criteria also undermines the program’s original economic rationale.

 

[drake69]

Honestly feels like political theater more than real reform. Every administration wants its “signature visa.” But unless Congress acts, EB-5 isn’t going anywhere. Still, can’t blame wealthy investors for holding off until they see what happens. Nobody wants to park $5 million without clarity.

 

[leonard_shelby]

Wait… didn’t something similar come up years ago? Or was that about Portugal’s Golden Visa? I keep mixing them up. Either way, it sounds like they just want a faster track for rich folks again.

 

[izzie_w]

Even if it’s just politics, at least it’s keeping global attention on the U.S. investment route! The EB-5 still gives real benefits — jobs, community growth, new projects. If the Gold Card adds another option, maybe both can coexist positively!

 

[hannah_solo]

So Trump’s turning U.S. citizenship into a luxury membership plan? Sounds about right. But hey, if it cuts red tape for investors, the lawyers and developers will love it. Everyone else? Not so much.