Future of EB-5 in Doubt in Light of Trump Gold Card
February 25, 2025
From the Oval Office:
President Trump, alongside Commerce Secretary Howard Lutnick, made the following statements from the Oval Office:
"We’re going to be selling a gold card. You have a green card. This is a gold card. We’re going to be putting a price on that card of about $5 million, and that’s going to give you green card privileges, plus it’s going to be a route to citizenship."
The President further stated:
"And wealthy people will be coming into our country by buying this card. They’ll be wealthy, and they’ll be successful, and 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."
The President was accompanied by Commerce Secretary Howard Lutnick, who also made highly critical statements about the future of the EB-5 Program:
"The EB-5 program . . . it was full of nonsense, make-believe and fraud, and it was a way to get a green card that was low price."
Secretary Lutnick also stated that the new Gold Card program would be aimed at investors with substantial financial means:
"We’re going to make sure they’re wonderful world-class global citizens,"
Mr. Lutnick said.
Mr. Trump added:
"It will be people with money and people that create jobs."
Commerce Secretary Lutnick specifically stated:
"... we’re going to end the EB-5 program. We’re going to replace it with the Trump Gold Card."
Finally, the President stated that additional details will be provided to the public in two weeks.
Can the President Suspend the EB-5 Program?
It will be interesting to see how the Trump Gold Card program develops in the coming weeks. We don’t foresee the President ending the EB-5 Program by executive action unless it is done under national security grounds. However, with a majority in the House and Senate, legislation could be introduced to terminate the EB-5 program in 2025.
Top Takeaways from the Oval Office Announcement & Future of EB-5 Program
Trump introduced a $5 million investment "Gold Card" program that is set to replace the $800,000 EB-5 investor green card program.The Gold Card program will continue to involve strict security background checks for potential investors and verification of their sources of funds.The EB-5 Program is set to expire on September 30, 2027.The Reform and Integrity Act includes a provision stating that I-526E visa petitions filed before September 30, 2026, are to be grandfathered and processed until completion – even if the EB-5 Program is not renewed.New legislation by a majority vote from Congress could terminate the EB-5 Program in 2025 and replace it with the Gold Card program.Congress—both the House and Senate—currently has a majority representation of the President’s party.
Call for Action
Versfeld & Hugo, LLC has extensive experience representing investors who choose to immigrate through investment in various parts of the world.
With the potential sunset of the U.S. EB-5 Program, any investor wishing to pursue the EB-5 Program must act quickly to file their visa petitions as soon as possible to qualify under the existing $800,000 EB-5 Program.
📩 Coordinate your complimentary consultation with one of our expert lawyers today.
📞 +1 816-891-8600
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