US Gold Card to Replace EB-5 Visa in 2025 Soon

Engr Asifa KarimMarch 8, 2025

A recent discussion among industry leaders and policymakers provided key insights into the history, current status, and future outlook of the EB-5 visa program, particularly in light of the new Gold Card proposal by the Trump administration. The discussion highlighted how EB-5 has evolved over the years and what new opportunities exist for prospective investors.

A Brief History of the EB-5 Visa Program

The EB-5 Immigrant Investor Program was created by Congress in 1990 as a means to attract foreign investment into the U.S. economy while generating jobs for American workers. Over the years, EB-5 has contributed significantly to U.S. economic development:

Over $55 billion in foreign capital has been invested in the U.S. through EB-5.
Nearly 1.5 million U.S. jobs have been created as a direct result of these investments.
EB-5 investors have financed major infrastructure and real estate developments across the country.

Despite its contributions, the program has faced regulatory challenges, fraud concerns, and legislative uncertainties. The Reform and Integrity Act (RIA) of 2022 brought significant changes to increase transparency and investor protections. However, under the new Trump administration, further policy shifts are expected.

The Future of EB-5 Under Trump’s Gold Card Proposal

A major focus of recent discussions was the introduction of the Gold Card Program, a new residency-by-investment initiative proposed by President Trump. While details are still emerging, it suggests a fundamental shift in how the U.S. approaches investment-based immigration.

New Differences Between Gold Card and EB-5

Gold Card requires a $5 million contribution to the U.S. Treasury, while EB-5 requires investment in job-creating projects.
Gold Card may not have a residency requirement, whereas EB-5 investors must maintain permanent residency in the U.S.
Tax Implications: Gold Card holders may only be taxed on U.S.-sourced income, unlike EB-5 green card holders, who are taxed on global income.
Job Creation Mandate: EB-5 explicitly requires job creation, while Gold Card investors are not required to generate employment opportunities.
Visa Caps and Availability: The Gold Card is expected to have no visa cap, whereas EB-5 is limited to 10,000 visas per year, including dependents.

While the Gold Card is designed to attract ultra-high-net-worth individuals, EB-5 remains an accessible pathway for those willing to invest in U.S. economic growth. Industry leaders believe that both programs can coexist, serving different investor needs.

Opportunities for New EB-5 Visa Applicants

Despite uncertainties surrounding Trump’s immigration policies, EB-5 continues to present strong opportunities for new investors.

1# Faster Processing Times: With recent improvements in USCIS processing, EB-5 applicants may experience faster adjudication of I-526E petitions, allowing quicker access to U.S. residency.

2# More Regional Center Investments: The EB-5 Regional Center Program remains a popular option for passive investors who want professional management of their capital while still qualifying for a green card.

3# Greater Legislative Support for EB-5 Expansion: With the Trump administration actively discussing investment immigration, there is an opportunity to push for higher EB-5 visa caps and reduced backlogs. Industry leaders are already advocating for excluding derivatives (spouses and children) from the annual visa count, which could significantly increase available spots for new investors.

4# Enhanced Investor Protections: The Integrity Measures in the RIA of 2022 have greatly reduced fraud risks, making EB-5 a more transparent and secure program for new applicants.

5# Potential Tax Benefits for EB-5 Investors: The new discussions around Gold Card tax policies could potentially lead to tax relief for EB-5 investors, making the program even more attractive.