Have you heard about Trump’s new immigration proposal? Trump’s “Gold Card” is offering permanent residency and a pathway to US citizenship in exchange for a $5 million investment.
Our law firm,Decker, Pex, Levi, which specializes in US immigration law, is closely following President Donald Trump’s latest proposals to change immigration conditions for our clients. What are the expected conditions for this “Gold Visa”? Is this just another Trumpian idea unlikely to actually materialize, or might it soon become a reality? And what about existing investment-immigration programs, such as EB-5 and E-2?
What is the “Golden Visa”?
According to the proposal, foreign investors could receive a Green Card (permanent residency) in exchange for a $5 million investment in the United States. This new program aims to replace the existing EB-5 program, which also grants Green Cards in return for investment, albeit for lower sums. The program’s objective is to attract wealthy immigrants to invest in America, create jobs, and strengthen the US economy. According to Trump, the program would generate trillions in revenue once millions of investors purchase the card.
Trump unveiled the plan during a press briefing, describing it as “Green Card Plus” and a clear pathway to citizenship. “This will be a simple and straightforward program,” Trump stated, adding that further details would be published within two weeks. Commerce Secretary Howard Lutnick clarified that the Golden Visa would replace the EB-5 visas for foreign investors, with participants paying directly to the U.S. government.
Trump believes this program will attract “wealthy and successful” people to the U.S. and could help companies like Apple bring key employees and executives to the country.
Details about the EB-5 program
Established in 1990, the EB-5 investment visa allows foreign investors to obtain a Green Card by investing $1.8 million in a new business or $900,000 in economically distressed areas, creating at least 10 full-time jobs. Most EB-5 investments are made through regional centers, which pool funds from multiple investors for large public projects, such as roads, hotels, and shopping centers.
The program has faced criticism over the years, particularly from Trump-aligned Republicans like Senate Republican President Chuck Grassley. Some of the identified problems include:
- US authorities struggle to verify that investment capital is indeed legitimate and not the result of fraud, crime, money laundering, or other illicit sources.
- Fraudsters abroad occasionally pose as regional center representatives or immigration officials, promising Green Cards in exchange for investment.
- Insufficient oversight exists regarding how investment funds are used by regional centers. USCIS, the United States immigration authority, claims to lack authority to investigate, reject applications, or shut down centers, even when significant funds go into the managers’ pockets rather than the intended projects.
Differences between the old and proposed programs
Unlike the EB-5 visa, which requires active investment in creating jobs, the “Golden Visa” focuses on a direct financial contribution to the federal government. Specific details of the new program aren’t yet available, but it appears to offer an accelerated path to residency. Under EB-5, investors and their families initially receive a temporary Green Card for two years, with permanent residency granted only if the business remains operational and employs the required number of people. In contrast, Golden Card investors might immediately receive a permanent Green Card and an expedited citizenship process.
“Golden Visas” in other countries
In contrast to this trend in the US, many countries worldwide are canceling their “Gold Visa” programs. The European Commission has warned against such programs, citing potential abuse for money laundering or providing immigration pathways for criminals and those involved in shady activities. Countries maintaining residency or citizenship through investment often disallow passive investments, such as real estate, requiring instead active investments that generate employment for local citizens.
When asked about the possibility of the program being used to circumvent current sanctions and restrictions—for example, by wealthy Russian criminals—Trump responded, “I know some Russian oligarchs who are very nice people,” adding that the program would attract “high-quality individuals.”
Will the Gold Card be approved?
Despite Trump’s and Lutnick’s confidence, several legal questions remain open. Immigration and citizenship issues are governed by the legislative body, and it’s unclear if the executive could cancel the existing program or introduce a new one without congressional approval. Of course, Trump has often pushed the boundaries of executive power, and even if the Golden Card isn’t immediately enacted, it might eventually gain congressional approval.
The proposal has drawn significant criticism, mainly due to concerns about creating an immigration system based solely on wealth. However, as mentioned earlier, Republican leaders currently controlling Congress have criticized existing investment-based immigration programs and may welcome an alternative.
Our recommendations:
Currently, the EB-5 program still exists, but its future remains uncertain. If the Golden Visa program is approved, it’s likely EB-5 will be discontinued or significantly altered. Therefore, if you have the funds required for EB-5, now is the time to act.
Furthermore, Trump may not even be aware of the existing E-2 visa, allowing investors, executives, key employees, and their families to live in the U.S. as long as their business remains operational. Trump’s immigration policy did not touch the E-2 visa during his previous term, nor have we heard of planned changes. The required investment can be as low as $100,000, allowing you and your family to live and work in the U.S., with available pathways to a Green Card accessible to temporary residents.
We continue to monitor developments concerning the Golden Visa program closely. As it remains in development, significant changes may occur. If you’re considering immigrating to the United States, we recommend consulting an experienced immigration attorney. The law firm Decker, Pex, Levi is here to help you with any questions or needs.
