What Trump’s Policies Mean for the EB-5 Immigrant Investor Program

In recent months, President Donald Trump’s administration commented on the EB-5 Immigrant Investor Program. Trump expressed his desire to replace this popular, established program with a new immigration initiative that provides U.S. lawful permanent residency to foreign nationals at a much higher cost.

Investors should know that the EB-5 program has not been canceled, and it will probably continue operating normally for a long time. It’s unlikely that Trump will shut EB-5 down anytime soon. However, the president’s comments are likely to have some impact on U.S. immigration in general.

In this article, we’ll explain what Trump has said, how his comments may affect the program, and where foreign investors should turn to for help in getting U.S. Green Cards fast.

What Did Trump Say About the EB-5 Program?

During a White House press conference in late February, President Donald Trump and Commerce Secretary Howard Lutnick criticized the EB-5 program for offering permanent residency to foreign nationals at too low a cost. They announced plans to replace the EB-5 program with a “Gold Card” that would provide Green Card privileges and a pathway to U.S. citizenship for wealthy foreign investors.

To obtain one, a foreign national would have to pass a thorough vetting process and make a $5 million payment to the U.S. government. In contrast, obtaining an EB-5 Green Card requires a minimum capital investment of $800,000 in a project located in a targeted employment area. Trump and Lutnick suggested that selling Gold Cards in large numbers would bolster tax revenue and reduce the national deficit.

President Trump opined that his unprecedented Gold Cards would be available in a matter of weeks, a million or more of these cards would sell to high net worth individuals abroad, and that Congressional approval would be unnecessary.

Why EB-5 Is Unlikely to Be Scrapped

The EB-5 program is still available and will remain active for the foreseeable future.

Trump’s proposed Gold Card as a replacement to the EB-5 program is unlikely to be implemented anytime soon or at anywhere close to the level of popularity he predicted.

First, there are limits to executive power. The President cannot bypass Congress, even with an executive order. Congress created the EB-5 program, and Congress has primary authority to regulate immigration laws under the Constitution. Attempts to overrule Congress on immigration policy have been successfully challenged in court, and the Supreme Court has reaffirmed Congressional primacy. Changes to or a cancellation of the EB-5 program would require Congress to amend existing laws like the Immigration and Nationality Act.

New immigration legislation will require Congressional approval, and the legislative process for new laws takes time. Gaining widespread support of such a bill in both the House and Senate would require significant lobbying for months.

Second, powerful people from all over the country—from developers and investors to lawyers and politicians—are connected to the billions of dollars currently invested in ongoing EB-5 job creating projects. Those stakeholders don’t want to see the program abolished, and they would challenge any serious attempt to do so. For the past several decades, the EB-5 program has pumped tens of billions of dollars into U.S. economic growth. It’s been responsible for substantial job creation in underserved areas of the country.

Third, the Gold Card proposal isn’t unique or unprecedented. Dozens of other countries operate similar citizenship by investment programs. However, no investor visa program sells anywhere close to a million visas each year. Recipients of such visas from all such programs worldwide number only in the tens of thousands to hundreds of thousands annually.

Even if the Gold Card program is eventually implemented in the United States, the new visa program will probably take many years to sell a million such cards.

How Investors Have Reacted

Understandably, the announcement has caused a great deal of stress, anxiety, and confusion for some foreign investors. This is especially the case for those with families who are making life-changing financial and relocation decisions.

Some investors have responded with hesitation, delaying their investments or turning their attention to other visa programs.

Others have sped up their timelines to take advantage of the grandfathering clause. This provision in the EB-5 Reform and Integrity Act of 2022 ensures that all foreign investors who submit their petitions by September 30, 2026 will have their applications processed by United States Citizenship and Immigration Services (USCIS). Such applicants will be protected from subsequent changes to the program.

This is similar to what happened in 2019, when EB-5 investors rushed to file before the minimum investment threshold increased from $500,000 to $900,000 at the time.

What May Be the Longer-Term Impact of Donald Trump’s Proposal?

Let’s consider some longer-term implications of the Trump on EB5 comments.

Market Instability for EB-5 Projects

If uncertainty grows and more investors pause their EB-5 plans, some EB-5 projects may experience funding delays or fail to reach their capital goals. Some project timelines may be delayed. This means that available options for new EB-5 applicants could shrink, although financially stable, strong and feasible EB-5 projects are likely to remain unaffected.

Investors May Have a Lower Risk Tolerance

It’s likely that some investors will become more averse to high-risk, high-return projects. To counterbalance growing political risk, they will be more receptive to investing in lower-risk projects.

Expedited regional center projects offered by transparent partners that have a strong record of success will be especially attractive to foreign investors.

A Greater Need for Professional Advice

Increased opposition from the White House to the EB-5 program could introduce some uncertainty into the EB-5 application process.

Seeking advice from experienced legal counsel and a reputable EB-5 consulting firm will be more important than ever to navigate these complexities.

Work with them to better understand the key forms, eligibility criteria, job creation requirements, and main steps of the EB-5 investment process. They’ll help you submit a complete and accurate application, obtain a conditional Green Card quickly, and avoid making common mistakes that will delay your processing.

Invest in EB-5 Sooner Rather Than Later

It’s very unlikely that the White House’s vision to replace EB-5 with the Trump Gold Card will move forward in the way, at the scale, or with the speed Trump suggested. Only Congress has the authority to end the current EB-5 program, no such legislative action is pending, and many stakeholders recognize how the program contributes to the U.S. economy.

However, the administration’s statement of intent and opposition to the EB-5 program are clear.

Prospective investors should not panic or make rash decisions. But they should take swift action if they are considering the EB-5 program and its many benefits.

Get Access to Low-Risk, High-Value EB-5 Projects With EB5AN

The EB-5 Immigrant Investor Program remains an excellent way for foreign nationals to obtain a U.S. Green Card through investment. In return for investing in a commercial enterprise that creates jobs for U.S. workers, the foreign national and qualified family members will receive lawful permanent resident status.

Before embarking on this journey, it’s wise to contact a reputable EB-5 investment firm for advice on how to reliably secure Green Cards for yourself and your eligible family members.

EB5AN has helped more than 2,700 families from 70+ countries become lawful permanent residents of the United States. Our expert team has more than a decade of experience, and offers clients first-rate, low-risk EB-5 regional center projects with 100% USCIS project approval rate to date.

To learn more about becoming an EB-5 Green Card holder, book a free call with us today.