Is EB5 Still Available? What Investors Should Know About Trump’s Comments

President Trump’s recent proposal that a new “Gold Card” could replace the EB-5 Immigrant Investor Program has made waves in immigration circles. If implemented, this new program would raise the cost of obtaining U.S. lawful permanent residency considerably.

It’s no surprise that so many prospective immigrants are now asking, “Is EB5 still available?”

The short answer is yes. The EB-5 program is in no immediate danger, and those who submit their applications in the near future will still be protected even in the unlikely event that the program is not renewed years down the road.

In this article, we’ll delve into the controversy surrounding employment-based immigrant visas, explore the many obstacles to shutting down the EB-5 program, and explain how foreign investors can still get U.S. Green Cards quickly and safely.

What Has Donald Trump Said About the EB-5 Program?

Let’s examine what President Trump and Secretary of Commerce Howard Lutnick have said about the Gold Card proposal and the EB-5 program. Here are the main points to take away from their comments.

• During a press conference at the White House in late February, Trump and Lutnick proposed that the EB-5 program be replaced with a “Gold Card” that provides Green Card privileges and a route to U.S. citizenship.
• Obtaining one would require each vetted foreign national to make a $5 million payment to the U.S. government, which Trump and Lutnick suggested could help increase tax revenue, reduce the national debt, and create jobs.
• Lutnick criticized the EB-5 program as “full of nonsense, make-believe, and fraud” and for offering a “low-priced” way to get Green Cards. The EB-5 program currently has a minimum investment amount of $1,050,000 for a typical project, or $800,000 for a project located in a targeted employment area (TEA).

Naturally, many have wondered about the implications of such remarks for the future of the EB-5 program.

Is EB-5 Still Available?

Yes.

Established by Congress in 1990 to stimulate U.S. economic growth, the EB-5 Immigrant Investor Program continues to allow foreign nationals to obtain a U.S. Green Card through investment. It remains a reliable and direct pathway to lawful permanent residency in the United States. In exchange for creating at least 10 full-time jobs for U.S. workers, the foreign national and qualified family members (spouse and unmarried children) will receive Green Cards.

Congress has consistently reauthorized the program’s continued operation. It last did so in 2022. It will remain active until at least September 30, 2027, when it will be up for its next reauthorization.

The EB-5 program is unlikely to be shut down in the way described by Trump. Substantial legal barriers and vested interests will prevent this program from being canceled anytime soon.

Let’s take a closer look at the hurdles to ending this longstanding visa program.

Canceling the EB-5 Program Would Require Congressional Approval

It is not the president, but Congress, that has the greatest authority over immigration issues. Article I of the Constitution gives Congress the power to regulate immigration laws, including the EB-5 program.

Congress created the EB-5 program. Changes to immigration programs like this one would require congressional action and amending existing legislation like the Immigration and Nationality Act. The president cannot unilaterally close the EB-5 program with an executive order. Only Congress has the ability to do so by passing new legislation to change it.

Any such bill would first have to be introduced to Congress and win the approval of both the House and Senate. This would require significant lobbying for months, even if both chambers were receptive to any such initiative.

They aren’t.

Large numbers of Democrats and Republicans support the EB-5 program.

The EB-5 Program Is Popular

Since its inception in 1990, the EB-5 program has remained a popular program for foreign investors and many others throughout the United States. This program has consistently enjoyed strong bipartisan support, and attracts skilled, high-net-worth individuals who have injected tens of billions of dollars into the U.S. economy.

This foreign capital investment has been crucial to job creation for American workers, particularly in underserved high-unemployment and rural areas of the country via the regional center program. It indirectly addresses the national deficit by strengthening the U.S. economy and boosting tax revenue.

Billions of dollars are tied up in the EB-5 program’s existing investments. Wealthy investors, developers, lawyers, and regional centers are all stakeholders. Many of them are political donors. These are all influential individuals who would challenge any serious threat to the program.

People across the political spectrum recognize the benefits of EB-5 job creating projects to U.S. national interests.

Current Investors Are Protected

If the political will were there, the EB-5 program could be allowed to expire. However, even if it were to be phased out or replaced, current and near-term prospective investors would still be protected.

The EB-5 Reform and Integrity Act of 2022 contains a grandfathering provision to ensure that existing investors and those who make a qualifying investment well into 2026 will not be abandoned. A petition filed before September 30, 2026, will be processed under the program’s current rules, and is protected from future changes to the program or related legislation.

United States Citizenship and Immigration Services (USCIS) is obligated to continue processing applications filed under the current rules.

No New Visa Program Is Ready to Replace EB-5

Trump’s Gold Card program is still just a concept.

It has no legal framework.

It has no eligibility criteria.

It has no infrastructure for implementation.

A complex visa program like EB-5 cannot be replaced overnight without creating legal and administrative chaos.

The EB-5 Program Has Low Levels of Fraud

The EB-5 program has minimal levels of fraud. The Government Accountability Office recently assessed that under 1% of EB-5 applications were fraudulent or raised national security concerns in fiscal year 2021. Between 2016 and 2021, the State Department issued only 76 EB-5 application denials related directly to fraud or national security, and approved over 37,000 EB-5 visas.

In 2022, the EB-5 Reform and Integrity Act introduced a series of reforms. These were aimed at detecting and preventing what were already low levels of abuse as well as enhancing investor protections. Such measures include the following:

• Improved supervision of regional centers and greater penalties for compliance violations.
• Expanded disclosure and registration requirements.
• Increased background checks and audits.

USCIS has also taken steps in recent years to further reduce the risk of fraud and misuse, including via compliance reviews, enhanced investor screening, and additional training.

The EB-5 program is now safer than ever for investors.

What Steps Should EB-5 Investors Take?

EB-5 investors can take the following steps to further protect themselves.

• Don’t Panic. Stay calm, keep informed, and keep working your way through the investment process if you’re already preparing to file. If you’re from a high-demand country like China or India, keep an eye on the Visa Bulletin for important information like your priority date to know when you can proceed with next steps in the application process.
• File Early and Accurately. Submit your Form I-526E as soon as possible if you are ready. Familiarize yourself with key forms and the main steps of the EB-5 investment process to avoid errors that will delay application processing.
• Keep Your Immigration and Financial Risk Low. Work with a proven regional center instead of making a direct investment, and don’t skip thorough due diligence. Focus on low-risk EB-5 projects. Ensure you have done enough financial planning to make the necessary investment in a new commercial enterprise and pay for related expenses.
• Consult an Immigration Attorney. Get legal clarity on EB-5 grandfathering protections and other immigration matters from an experienced immigration lawyer.
• Work With a Reputable EB-5 Consulting Firm. A team of EB-5 experts can give you professional advice and guide you through every step of the EB-5 application process, minimizing your risk and maximizing your chances of getting a Green Card smoothly and quickly.

EB5AN’s Best-in-Class Services Are Still Available, Too

No administration can unilaterally end the EB-5 program with little notice. The EB-5 visa remains a great option for foreign nationals looking to secure permanent residence in the United States by investing in a new commercial enterprise.

It’s a good idea to contact a reputable EB-5 investment firm for the best chance of securing Green Cards for yourself and your accompanying family members. Also be sure to consult with an expert in immigration law.

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.

Book a free call with us today for additional details about becoming a Green Card holder under the EB-5 program.