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LATEST EB-5 NEWS

March 18, 2025

Trump’s Gold Card vs. EB-5: A New Fast Lane for Wealthy Immigrant Investors

On February 25, 2025, President Donald Trump introduced the "Gold Card" visa, a $5 million gateway to a green card and U.S. citizenship, initially slated for launch around March 11. Presented as a potential successor to the EB-5 Immigrant Investor Program, Trump projects an ambitious 1 million to 10 million applicants annually, generating up to $5 trillion to address the $34 trillion national deficit. Supported by Commerce Secretary Howard Lutnick as a streamlined alternative to EB-5’s challenges, the Gold Card holds promise as a complementary option rather than a replacement. While its scale may not fully align with reality, its innovative features could enhance America’s appeal to the world’s wealthiest investors.

Since 1990, EB-5 has provided green cards for a $1,050,000 investment ($800,000 in targeted rural and high-unemployment areas) that creates 10 jobs, attracting thousands yearly—3,837 applicants in Fiscal Year 2024 alone—and contributing $55.2 billion to the economy since its inception, per U.S. Citizenship & Immigration Services data. Trump has criticized its fraud and delays, with processing stretching two to three years, yet replacing it faces obstacles. The EB-5 Regional Center program, reauthorized by Congress in 2022 until September 30, 2027, under the EB-5 Reform and Integrity Act, underscores Congress’s authority over immigration law (Article I, Section 8), a principle courts have upheld since 1977. Terminating EB-5 demands legislative action, which Trump cannot unilaterally achieve, as executive efforts would likely provoke legal resistance.

Consequently, the Gold Card is poised to coexist with EB-5, a practical outcome given Congressional oversight. Trump’s vision of 1 million to 10 million applicants stretches credulity when EB-5, at a fraction of the cost, draws far fewer. Globally, approximately 3 million foreigners possess $5 million or more in investable assets, according to Capgemini’s 2023 data (4.2 million total, minus 1.4 million U.S.-based). However, not all pursue U.S. residency, often favoring home countries or cost-effective alternatives like the Caribbean’s $100,000 programs. The UK’s former $2 million visa, averaging 857 approvals yearly, illustrates how demand wanes at higher thresholds. Still, the Gold Card’s unique incentives could carve a distinct niche.

The program’s potential lies in its speed and tax advantages. EB-5’s protracted timeline frustrates investors, whereas a Gold Card processing window of six to twelve months could attract those who prioritize efficiency—a trait high-net-worth individuals value. Trump’s suggestion that Gold Card holders might avoid taxation on worldwide income, unlike EB-5’s exposure to IRS oversight, addresses a key deterrent for wealthy foreigners. This exemption, if realized despite complex legal mechanics, could significantly boost interest, as taxation remains a primary reason investors opt for other nations’ programs. Coupled with no visa cap—unlike EB-5’s 10,000 limit—this flexibility could alleviate bottlenecks and enhance appeal, distinguishing it from EB-5’s return-focused model.

A Congressional clash over EB-5’s repeal seems improbable. Redirecting capital to the Gold Card would challenge stakeholders tied to EB-5’s multibillion-dollar ecosystem, yet the administration’s broader priorities—trade, taxes, infrastructure—suggest this issue won’t dominate. The market, though substantial at 3 million potential investors, shows limited demand at $5 million, making a legislative battle unlikely. Coexistence offers a balanced solution, leveraging the Gold Card’s swift processing to attract a select clientele without disrupting EB-5’s established base.

Economically, the Gold Card’s impact holds promise but falls short of Trump’s grand projections. One million applicants would yield $5 trillion—15% of the deficit—but capturing 33% of the 3 million pool exceeds historical patterns. A more feasible hundreds annually could generate $500 million to $1 billion, a meaningful contribution complementing EB-5’s job-driven benefits. Trump’s mention of Russian oligarchs introduces flair, though geopolitical sensitivities may require careful navigation.

As of March 18, 2025, with the original launch date passed, the Gold Card’s status remains fluid—whether active or delayed, its potential shines as an EB-5 ally. Congress secures EB-5’s longevity, while the Gold Card’s $5 million entry and expedited processing target an elite segment. Should it deliver tax exemptions, its appeal could grow substantially. Although millions of applicants remain aspirational, hundreds could still yield significant revenue without necessitating a political showdown. High-net-worth individuals will invest in speed and tax relief, positioning this program as a valuable addition to America’s immigration framework—a bold, workable complement rather than an unattainable overhaul.

EB-5 FAQs

1. What is an EB-5 visa?

The EB-5 visa is an immigrant investor program that allows foreign nationals to obtain a U.S. green card by making a qualifying investment in a U.S. business that creates or preserves at least 10 full-time jobs for U.S. workers.

2. Can I port my EB-2 priority date to EB-5?

Yes, it is possible to port your EB-2 priority date to EB-5 if you file a new I-526 petition and meet specific eligibility criteria. This can be helpful if you are experiencing delays in the EB-2 category.

3. How long does it take to get an EB-5 green card?

The processing time for an EB-5 green card can vary widely, depending on factors such as the country of origin, visa availability, and the complexity of the case. On average, the entire process can take between 24 to 60 months or more. However, it is important to note that if you are present in the U.S. when you file your EB-5 application, you may concurrently file for an adjustment of status and typically that will be approved in a matter of months, thus giving you all of the benefits of a green card while waiting for your formal approval.

4. How can I apply for an EB-5 visa?

To apply for an EB-5 visa, you must make a qualifying investment, file Form I-526 (Immigrant Petition by Alien Investor) with USCIS, and once approved, apply for conditional permanent residency. After two years, you must file Form I-829 to remove conditions.

5. Is the EB-5 program worth it?

The EB-5 program can be a worthwhile path to U.S. residency for those with the financial means to invest and who want the benefits of living, working, or studying in the United States. However, it carries financial and investment risks.

6. Can I get a loan to fund my EB-5 investment?

Yes, but the ideally the loan should be secured by your own personal assets. Unsecured loans or loans secured by third-party assets are allowed under certain circumstances but should be reviewed thoroughly with your EB-5 immigration attorney.

7. How does EB-5 financing work?

EB-5 financing typically involves investors pooling their capital through a Regional Center project or investing directly in a business. The funds must remain at risk throughout the investment period, and the project must create the required jobs.

8. How many EB-5 visas are issued per year?

The U.S. government allocates approximately 10,000 EB-5 visas annually, with a portion reserved for investments in Targeted Employment Areas (TEAs) and infrastructure projects.

9. How much do I need to invest for an EB-5 visa?

The minimum investment amount is $800,000 for projects in TEAs or $1,050,000 for projects outside of TEAs. These amounts may be adjusted for inflation periodically through an act of Congress, as they were in 2022 with the EB-5 Reform and Integrity Act.

10. What are the costs associated with the EB-5 visa program?

In addition to the investment amount, there are costs such as USCIS filing fees, legal fees, administrative fees for Regional Centers, and costs related to sourcing and transferring funds.

11. What is an EB-5 Regional Center?

An EB-5 Regional Center is a USCIS-approved entity that pools EB-5 investments to fund job-creating projects. Regional Centers handle the management of job creation and make the investment process more passive for investors.

12. Where should I invest for an EB-5 visa?

Investment locations should be chosen based on factors like TEA designation, project credibility, and economic impact. Consulting with a financial advisor or immigration attorney is recommended. You may review our available EB-5 projects on our EB-5 Projects page.

13. How do I switch from an H-1B visa to an EB-5 visa?

You can transition from H-1B to EB-5 by filing an I-526 petition and applying for adjustment of status through Form I-485 if you are already in the U.S.

14. How much does it cost to become a U.S. citizen?

The cost for naturalization (Form N-400) is $640, plus an $85 biometric services fee. This does not include the initial EB-5 investment and associated costs.

15. How long does Form I-485 take to process for EB-5 applicants?

Processing times for Form I-485 vary but generally you can expect to receive your adjustment of status within 6 months. Delays may occur depending on USCIS workloads and case complexities.

16. What is Form I-485?

Form I-485, Application to Register Permanent Residence or Adjust Status, is used by individuals in the U.S. to apply for a green card. EB-5 investors file this form once their I-526 petition is approved and a visa is available.

17. Can I get a green card faster than 90 days?

Generally, it is difficult to obtain a green card within 90 days. However, expedited processing may be possible in certain situations, such as when investing in set-aside categories under the EB-5 Reform and Integrity Act. 18. Furthermore, with the EB-5 RIA of 2022, EB-5 investors can now apply for an adjustment of status via form I-485 concurrently with their I-526 filing and receive EAD work authorization and travel authorization within a few months, effectively making it possible to start enjoying nearly all of the benefits of a green card within 90 days.

18. Can I apply for U.S. citizenship before 5 years of holding a green card?

No, EB-5 green card holders must wait 5 years from the date they received permanent residency to apply for naturalization, unless they qualify for an exception (e.g., through marriage to a U.S. citizen).

19. What does investment in a Targeted Employment Area (TEA) mean?

A TEA is either a rural area or an area with high unemployment, which qualifies for a reduced minimum investment amount of $800,000. TEAs are designated to encourage economic growth in underdeveloped regions.

20. How can I transition from asylum status to a green card?

If you have been granted asylum, you can apply for a green card after one year of continuous residence in the U.S. using Form I-485. EB-5 investors do not use this pathway but can still adjust status if eligible.

21. What are the benefits of having a green card?

Benefits include the ability to live and work anywhere in the U.S., access to U.S. education and healthcare, in-state tuition benefits at U.S. universities, eligibility for Social Security and Medicare after qualifying years, and a pathway to U.S. citizenship. See more on our EB-5 Program Overview page.

22. What are the benefits of U.S. citizenship compared to a green card?

U.S. citizens have the right to vote, access federal jobs, travel with a U.S. passport, and avoid the risk of deportation. Citizens can also sponsor more relatives for permanent residency and are exempt from green card renewal.

23. How can I apply for a green card while in the United States?

You can apply for a green card through adjustment of status using Form I-485 if you meet eligibility criteria and are in lawful status. For EB-5 investors, this follows the approval of the I-526 petition.

24. How can international students obtain a green card?

International students may explore options like EB-5, employment-based green cards (e.g., H-1B to EB-2/EB-3), marriage to a U.S. citizen, or family-based sponsorship.

25. What does “Request for Initial Evidence was sent” mean?

This notice means USCIS needs more information or documentation to process your application. You must provide the requested evidence within the specified deadline to avoid delays or denial.

26. Does holding a green card make me a U.S. citizen?

No, having a green card makes you a permanent resident, not a U.S. citizen. You can apply for citizenship through naturalization after meeting the residency and eligibility requirements.

27. What are common EB-5 visa interview questions?

Questions may include details about your investment, source of funds, job creation plans, and your intentions to live in the U.S. Be prepared to discuss your investment project and supporting documentation.

28. Can you change jobs while your Form I-765 is pending?

Yes, you can change jobs, but it may affect your work authorization status depending on your visa type. Consult an immigration attorney before making changes to ensure compliance.

29. What is the safest EB-5 investment project?

There is no guaranteed "safe" EB-5 investment, but projects sponsored by reputable Regional Centers with a strong track record and well-vetted business plans may reduce risk. Conduct thorough due diligence.

30. How does moving to the United States from India work under the EB-5 program?

You must make a qualifying EB-5 investment, file Form I-526, and wait for approval and visa processing. Due to high demand, Indian nationals may experience longer waiting times, though this may be avoided by investing in a rural TEA project.

31. Can you “buy” a green card?

While you cannot "buy" a green card directly, the EB-5 program allows you to invest in a qualifying U.S. project, which can lead to permanent residency if all requirements are met.

32. What is the current green card backlog for Indian nationals?

Indian nationals face significant backlogs in the EB-5 program due to high demand. The Visa Bulletin provides updates on priority dates and waiting times.

33. Can I use an EB-5 green card to invest in U.S. real estate?

Yes, you can use your EB-5 green card to invest in real estate, but the initial EB-5 investment must comply with program requirements, including job creation and at-risk capital.

34. What are the requirements for proving the source of funds in EB-5?

You must provide documentation like tax returns, business records, sale agreements, loan agreements, and bank statements to prove that your investment capital came from lawful sources.

35. How do I trace the path of funds for an EB-5 investment?

You need to provide a clear, documented trail of funds from the original source to the final investment in the EB-5 project. This includes bank statements, wire transfer receipts, and other financial records.

36. What happens if my EB-5 project fails to create 10 jobs?

If the project does not create the required 10 jobs, your I-829 petition may be denied, and you risk losing your conditional permanent residency. Working with reputable projects can help mitigate this risk.

37. What is the EB-5 Reform and Integrity Act of 2022?

This law introduced significant changes, including higher investment amounts (an increase from $500,000 EB-5 investment to $800,000 EB-5 investment in TEAs), reserved visa categories for rural and high-unemployment areas, increased oversight of Regional Centers, and options for concurrent filing of I-526 and I-485.

38. How does the EB-5 job creation requirement work?

The investment must create at least 10 full-time jobs for U.S. workers. In Regional Center projects, both direct and indirect jobs created by project based construction expenditures can be counted using economic models.

39. What are the different types of EB-5 investments: Direct vs. Regional Center?

Direct EB-5 Investment: Involves actively managing a business and creating 10 direct jobs. Regional Center EB-5 Investment: Allows for a more passive role, using indirect job creation models.

40. How do I remove conditions from my EB-5 green card after two years?

File Form I-829 within 90 days before your conditional green card expires. You must provide evidence that your investment created 10 jobs and that your capital was at risk.

41. What is a “set-aside” visa category under the EB-5 program?

Set-aside categories, introduced by the 2022 RIA, reserve EB-5 visas for investments in rural, high-unemployment, and infrastructure projects, helping reduce wait times for eligible investors.

42. What are common reasons for EB-5 denials?

Common reasons include insufficient documentation of the source of funds, failure to meet job creation requirements, incomplete applications, or non-compliance with investment rules.

43. How can I appeal or respond to a denied EB-5 petition?

You can file a Motion to Reopen or Reconsider with USCIS or appeal to the Administrative Appeals Office (AAO). Consulting with an experienced immigration attorney is crucial.

44. Can I travel while my I-485 is pending for EB-5?

Yes, but you must have an approved Advance Parole (Form I-131) to re-enter the U.S. without abandoning your adjustment of status application.

45. What happens if there are delays in my EB-5 project?

Delays can affect job creation timelines and the overall viability of your investment. Stay in close communication with project developers and consider legal options if necessary.

46. What documents are required for an EB-5 application?

Documents include a detailed business plan, evidence of lawful source and path of funds, investment agreements, and comprehensive financial records.

47. How do USCIS site visits impact my EB-5 investment?

USCIS may conduct site visits to ensure the project is progressing as described and that job creation is on track. Be prepared for audits and maintain accurate records.

48. Are there any tax implications for EB-5 investors?

Yes, U.S. tax laws may apply to your global income once you become a resident. Consult a tax advisor to understand your obligations and plan accordingly.

49. Can my EB-5 investment be refunded if the project fails?

EB-5 investments must remain “at risk,” meaning there is no guaranteed return or refund. Carefully review project agreements and perform due diligence to minimize risk.

50. What are the risks associated with EB-5 investments?

Risks include potential job creation shortfalls, project delays or failures, and financial loss. Conduct thorough due diligence and consult with professionals to mitigate these risks.