Trump's 'Gold Card': What We Know so Far
President Donald Trump has announced his plans for a 'gold card' visa for wealth investors to secure residency in the U.S. and a path to citizenship for $5 million.
Mr Trump said the proposed gold card would replace the EB-5 Immigrant Investor Program. The scheme could raise $1 trillion, which would go towards clearing some of the country's national debt.
What does this mean for the future of the EB-5? Here is what we know so far.
The current EB-5 visa explained
Congress launched the EB-5 Immigrant Investor Program in 1990 as part of the Immigration Act to stimulate the economy through foreign investment.
Under the current scheme, investors can spend between $800,000 and $1,050,000 on a company that creates 10 full-time jobs for U.S. workers.
In return, the investor becomes eligible for a U.S. green card. After five years of legal residence, investors can apply for U.S. citizenship.
Despite its costs outpacing other residency by investment (RBI) schemes, the EB-5 is highly sought-after among investors. The U.S. State Department issued a record-breaking 12,055 EB-5 visas during the 2024 fiscal year.
What is the new 'gold card' visa?
Finer details of the new Trump gold card are still unclear at this time, with more information expected in the very near future.
So far, we know that, like the seemingly outgoing EB-5 visa, the gold card will grant permanent residency. Unlike the EB-5, the gold card will set investors back $5 million.
Details around the job creation requirements are unknown at this time. However, the gold card will require investors and their source of funds to undergo a vetting process.
Speaking about the type of investor he believes the new program will attract, Mr Trump said: "They'll be wealthy and they'll be successful.
"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."
What is the difference between the EB-5 and the gold card visa?
The biggest difference between the EB-5 and the gold card is the price.
While the EB-5 costs between $800,000 and $1,050,000, the proposed gold card will set investors back $5 million — over six times more expensive than the current program.
Another key difference between the two is who they are marketed towards.
Only individual investors can buy the EB-5. Under the new program rules, Trump stated that companies can also purchase gold cards.
Will the gold card replace the EB-5 visa?
Trump said the gold card will replace the EB-5 visa in two weeks. But is it that simple?
The first thing to consider is what is required behind the scenes to get the gold card off the ground and to market.
Even if the gold card were to replace the existing EB-5, it would still be classed as a new visa, which could throw a spanner in the works for Trump.
According to legal experts, a new visa requires new legislation, something a president alone cannot create.
So, can a president terminate the current EB-5 visa? Again, this is not so straightforward.
The EB-5 Program was created by legislation. This means that Trump cannot sign an executive order to end the EB-5. Instead, it can only be amended or terminated with legislative action.
For legislative action to be passed, it must be approved by:
The House of Representatives
The Senate
The President
Once a legislative action is approved, it must receive a 60-vote majority in the U.S. Senate to pass.
Can you still get an EB-5 visa?
At the time of writing, the EB-5 is still available; for how long remains unclear.
One thing that is clear is that time is of the essence. However, before the cut-off, investors who submit visa petitions under the existing EB-5 visa rules should be grandfathered into the new program.
The Reform and Integrity Act ensures that I-526E visa petitions filed before 30 September 2026 will be processed to completion, even if the EB-5 visa ends.
Those wanting to secure U.S. residency at the current rate, which starts at $800,000, should act now. Contact Holborn to find out how we can help you secure U.S. residency.