The Trump “Gold Card”: Why EB-5 Remains the Most Strategic Path to U.S. Residency

At EB-5 USA, our core mission has always been to help international investors navigate a legally sound, secure path to permanent residency in the United States. The recently announced Trump “Gold Card” visa, introduced on February 25, 2025, has stirred conversation and speculation in the global investor community. The proposal would offer U.S. green cards in exchange for a $5 million direct investment, with the promise of faster processing and fewer requirements than the existing EB-5 program.

While this new option may appeal to a small group of ultra-high-net-worth individuals (UHNWIs), we believe it is critical to objectively evaluate how the Gold Card compares to the long-standing and proven EB-5 Immigrant Investor Program. This article will walk through key differences, risks, and implications, both for new investors and those already pursuing EB-5 residency.

While both programs offer a path to permanent residency, only EB-5 includes a capital return structure and contributes directly to U.S. economic growth via job creation.  The table below contains these key considerations we discuss with our clients.

At face value, the Gold Card’s $5 million investment appears to offer simplicity—no job creation requirements and potentially faster processing—but this comes at a very real cost: no return of capital. That $5 million is not an investment in the traditional sense; it’s a non-refundable fee paid directly to the U.S. government, more akin to a high-priced donation in exchange for a visa.

By contrast, the EB-5 program is designed as a structured investment, most commonly in a regional center-backed commercial real estate or infrastructure project. After the conditional green card period and job creation milestones are met, the $800,000 principal is returned, often with a modest return. Investors retain the opportunity to preserve capital, generate some yield, and maintain financial flexibility for other global investments.

For many of our clients—particularly those in growth stages of wealth or focused on second-generation education and opportunity—the ability to recapture their investment is not just preferable; it’s essential. Even among our clients with net worths exceeding $30 million, there’s widespread hesitation to commit 15% of their net worth to an irreversible, zero-return option along with global US tax treatment.

Initial expectations for the Trump Gold Card program were ambitious. At its unveiling, internal projections targeted 2,250 sales in its first year. But as of June 25, 2025, those expectations have fallen sharply. According to Kalshi, only 42 cards are projected to be issued this year—a number that speaks volumes about market demand and investor sentiment.

Source: Kalshi-How many Gold Cards will Trump sell this year as of 6/25/2025

To put this in perspective, the US Federal budget in 2025 reached $7 trillion. Selling just 42 gold cards would generate $210mm, accounting for 0.003% of this year’s total budget outlay. This level of uptake suggests that the program, in its current form, is unlikely to become a major vehicle for U.S. immigration or revenue generation. It also implies that investors are not seeing sufficient value in the Gold Card to justify the cost, especially when viable, lower-cost alternatives like EB-5 already exist.

As the Gold Card proposal continues to circulate, we’ve received common questions from current EB-5 investors regarding its impact on the existing program. Here's our view:

1. Will the EB‑5 program go away?

No. The EB-5 program was permanently authorized through legislation, not executive action. Under the Reform and Integrity Act (RIA) of 2022, the EB-5 Regional Center program is valid through September 30, 2027. Only Congress can repeal or materially change it. Moreover, any investors who file a Form I-526E before that deadline are fully protected under the program’s grandfathering provisions. In short, your status is secure, regardless of the success or failure of the Gold Card initiative.

2. What could the Gold Card mean for EB‑5 moving forward?

It’s highly unlikely. While the Gold Card may eventually operate as a parallel pathway, it does not address the same economic development goals as EB-5. EB-5 is tied directly to U.S. job creation—a priority for both political parties—while the Gold Card, as structured, appears to offer fewer direct benefits to the American workforce or economy.

Any attempt to sunset EB-5 would not only require an act of Congress but would also face strong opposition from regional centers, immigration attorneys, and U.S. businesses that rely on EB-5 investment for job growth.

3. Should Current Investors Worry?

Not at all. Existing EB-5 investors are in a strong position. Projects with I-956F approvals can continue operations without disruption, and your I-526E filings are covered by existing law. If a Gold Card program takes shape, we anticipate it will target a different investor profile—those prioritizing speed and simplicity over capital preservation and economic impact.

Our Managing Director Weighs In:

“The Gold Card proposal is interesting, but it’s not a threat to our EB-5 investors. Their filings are protected under current law, and their projects remain on track. If a new program emerges, it may serve a different segment of the market—investors seeking rapid processing at a high price—but I do not expect broad adoption or meaningful impact on the EB-5 landscape.”

-          Delo Baker, Managing Director, EB‑5 USA.

The Trump Gold Card has introduced new headlines and possibilities, but it does not change the fundamentals of EB-5. The EB-5 program remains well established and protected.

We'll continue advocating for a healthy EB‑5 landscape, protecting your investment, and communicating clearly about any relevant policy shifts.

If you’d like to discuss this or want more details, please reach out to us directly.

📩 contact@ebfiveusa.com🌐 www.ebfiveusa.com