{"id":133619,"date":"2025-02-28T06:40:47","date_gmt":"2025-02-28T06:40:47","guid":{"rendered":"https:\/\/eb5visainvestments.com\/wordpress\/?p=133619"},"modified":"2025-03-25T12:59:31","modified_gmt":"2025-03-25T12:59:31","slug":"trump-intends-to-create-a-new-gold-card-program-whats-next-for-eb-5","status":"publish","type":"post","link":"https:\/\/eb5visainvestments.com\/pt-br\/trump-intends-to-create-a-new-gold-card-program-whats-next-for-eb-5\/","title":{"rendered":"Trump Intends to Create a New \u201cGold Card\u201d Program: What\u2019s Next for EB-5?"},"content":{"rendered":"<h3 class=\"butu-new\" style=\"text-align: center; width: 50%; margin-bottom: 20px;\"><a href=\"https:\/\/eb5visainvestments.com\/wp-content\/uploads\/2025\/02\/EB5AN-Open-Letter-to-President-Trump_250228_175613.pdf\" target=\"_blank\" rel=\"noopener\">Read Our Open Letter to President Trump<\/a><\/h3>\n<p>On February 25, 2025, <a href=\"https:\/\/www.wsj.com\/politics\/policy\/trump-proposes-5-million-gold-card-that-would-grant-u-s-residency-a639aa17\" target=\"_blank\" rel=\"noopener\">President Trump announced<\/a> that he intends to create a new investment-based immigration program that he says would replace the EB-5 visa program. Under Trump\u2019s plan, foreign nationals could qualify for \u201cGreen Cards plus benefits\u201d and an eventual path to U.S. citizenship by investing $5 million.<\/p>\n<p><a href=\"https:\/\/www.reuters.com\/world\/us\/trump-end-eb-5-immigrant-investor-visa-program-2025-02-25\/\" target=\"_blank\" rel=\"noopener\">The President\u2019s remarks<\/a> have made headlines and have drawn the attention of all EB-5 stakeholders. And while this news is causing some anxiety, under law, the President cannot unilaterally change U.S. immigration law. Any changes to immigration programs like EB-5 must be made by the U.S. Congress.<\/p>\n<p>In this post, we briefly examine President Trump\u2019s announcement and its potential impact on the EB-5 program.<\/p>\n<div class=\"form-guide\">\n<h6 id=\"heading1\"><a href=\"#h1\">Trump\u2019s Proposed \u201cGold Card\u201d Program<\/a><\/h6>\n<h6 id=\"heading2\"><a href=\"#h2\">What\u2019s Next for the EB-5 Program?<\/a><\/h6>\n<ul class=\"form-guide-list\">\n<li id=\"subheading2\"><a href=\"#h3\">1. Only Congress Can Amend Immigration Law and Modify the EB-5 Program<\/a><\/li>\n<li id=\"subheading2\"><a href=\"#h4\">2. It\u2019s Unclear How President Trump Will Proceed<\/a><\/li>\n<\/ul>\n<h6 id=\"heading1\"><a href=\"#h5\">Key Takeaways<\/a><\/h6>\n<\/div>\n<h3 id=\"h1\" style=\"text-align: center;\"><span style=\"font-weight: 400;\">Watch Full Webinar<\/span><\/h3>\n<p><iframe src=\"https:\/\/www.youtube.com\/embed\/z0zFR3ZPaTQ?rel=0;&amp;autoplay=1&amp;mute=1&amp;loop=1&amp;\" width=\"100%\" height=\"678\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h3 id=\"h1\" style=\"text-align: center;\"><span style=\"font-weight: 400;\">Watch Webinar Highlights<\/span><\/h3>\n<p><iframe src=\"https:\/\/www.youtube.com\/embed\/E8IVUVBRY1E?rel=0;&amp;autoplay=1&amp;mute=1&amp;loop=1&amp;\" width=\"100%\" height=\"678\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h3 id=\"h1\" style=\"text-align: center;\"><span style=\"font-weight: 400;\">Trump&#8217;s New $5M Gold Card Program<\/span><\/h3>\n<p><iframe src=\"https:\/\/www.youtube.com\/embed\/XyY1SCnia_U?rel=0;&amp;autoplay=1&amp;mute=1&amp;loop=1&amp;\" width=\"100%\" height=\"678\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h3 id=\"h1\">Trump\u2019s Proposed \u201cGold Card\u201d Program<\/h3>\n<p>President Trump <a href=\"https:\/\/www.imidaily.com\/north-america\/trump-to-axe-eb-5-program-and-introduce-5m-gold-card\/\" target=\"_blank\" rel=\"noopener\">outlined a new \u201cGold Card\u201d program similar to EB-5<\/a>. Under this program, foreign nationals would apparently qualify for Green Cards through an investment in the United States. He said, \u201cIt\u2019s going to be a route to citizenship, and wealthy people will be coming into our country by buying this card. They\u2019ll be wealthy, and they\u2019ll be successful, and they\u2019ll be spending a lot of money and paying a lot of taxes.\u201d<\/p>\n<p>Unlike the EB-5 program, though, Trump said that companies could also purchase \u201cGold Cards\u201d for talented or skilled employees. The new program might also offer tax benefits to investors, requiring them to pay taxes only on domestic income, not global income.<\/p>\n<p>The most crucial difference between this \u201cGold Card\u201d program and the EB-5 program is the apparent lack of any kind of job-creation requirement for \u201cGold Card\u201d investors. For EB-5 investors, job creation is the main requirement in obtaining a Green Card.<\/p>\n<p>While the President\u2019s proposed program would not directly require job creation, the intent is to draw high net worth individuals to the United States. According to President Trump, these immigrants are likely to create jobs: \u201cIt\u2019ll be for people with money or people who create jobs [\u2026] You\u2019re getting big taxpayers and big job creators.\u201d<\/p>\n<p>Regarding the \u201cGold Card\u201d program, Commerce Secretary Howard Lutnick said that \u201cwealthy applicants will pay $5 million directly to the U.S. government.\u201d Under the EB-5 program, applicants invest in commercial enterprises, often real estate developments. Aside from USCIS application and visa processing fees, which are meant to cover processing costs, EB-5 investors do not pay the U.S. government directly.<\/p>\n<p>President Trump also suggested that his administration could sell as many as one million \u201cGold Cards,\u201d and that proceeds from this program could help reduce the national debt. This suggests another key difference between the \u201cGold Card\u201d program and EB-5\u2014while EB-5 visas are limited, it seems these \u201cGold Cards\u201d would not be capped.<\/p>\n<h3 id=\"h2\">What\u2019s Next for the EB-5 Program?<\/h3>\n<p>For the moment, the President has taken no concrete actions toward initiating the new \u201cGold Card\u201d program or ending the EB-5 program. Almost no details are available regarding President Trump\u2019s plans. It is entirely uncertain whether the EB-5 program will be replaced, modified, or left untouched.<\/p>\n<p>While we can only speculate about the \u201cGold Card\u201d program and President Trump\u2019s plans, we can offer some key insights based on what we know about the EB-5 program.<\/p>\n<h4 id=\"h3\" style=\"padding-left: 30px;\">1. Only Congress Can Amend Immigration Law and Modify the EB-5 Program<\/h4>\n<p>The U.S. Constitution vests Congress with <a href=\"https:\/\/constitutioncenter.org\/the-constitution\/articles\/article-i\" target=\"_blank\" rel=\"noopener\">the exclusive power over immigration law<\/a>. Article I, Section 8, Clause 4 directs that \u201cThe Congress shall have Power \u2026 To establish an uniform Rule of Naturalization.\u201d Rules that determine who may enter and remain in the country can only be set by Congress, not the executive branch.<\/p>\n<p>The Supreme Court has consistently upheld Congress\u2019s authority over immigration law. In Chae Chan Ping v. United States (1889), <a href=\"https:\/\/constitutioncenter.org\/the-constitution\/supreme-court-case-library\/chinese-exclusion-casechae-chan-ping-v-united-states\" target=\"_blank\" rel=\"noopener\">the Supreme Court upheld<\/a> that the power to regulate immigration is an inherent aspect of national sovereignty. The Court noted that the authority to exclude aliens is reserved for the legislative branch, reflecting the will of the people.<\/p>\n<p>Furthermore, in Youngstown Sheet &amp; Tube Co. v. Sawyer (1952), the Court <a href=\"https:\/\/supreme.justia.com\/cases\/federal\/us\/343\/579\/\" target=\"_blank\" rel=\"noopener\">limited the President\u2019s power<\/a> when it conflicts with Congressional authority, underscoring that unilateral executive actions cannot alter statutes enacted by Congress.<\/p>\n<p>The EB-5 Immigrant Investor Program was enacted by Congress in 1990. Because it is codified law, any change\u2014whether to terminate the program or replace it with a \u201cGold Card\u201d system\u2014would require a new statute. Again, a remark by a president or an executive order cannot modify or nullify the EB-5 program.<\/p>\n<p>President Trump\u2019s recent remarks about ending EB-5 and replacing it with a \u201cGold Card\u201d system\u2014while politically provocative\u2014carry no legal effect.<\/p>\n<p>Changing immigration law involves a long process: a bill must be drafted, it must be reviewed in committee, then it is debated in both the House and Senate, and finally, if passed by Congress, it must be signed by the President. The President cannot compel Congress to pass a law. And if Congress were to choose to pursue President Trump\u2019s plan, the legislative process takes time.<\/p>\n<p>While President Trump may try a novel approach to sell \u201cGold Cards,\u201d he is highly limited in what he can change about settled immigration law.<\/p>\n<p>The American Immigrant Investor Alliance (AIIA), an EB-5 trade association, published an <a href=\"https:\/\/goaiia.org\/trumps-desire-to-replace-the-current-eb-5-program\/\" target=\"_blank\" rel=\"noopener\">analysis of the potential outcomes<\/a> for the EB-5 program following President Trump\u2019s announcement. Notice the following description of the legislative process for modifying immigration law, including changes to the EB-5 program:<\/p>\n<p style=\"padding-left: 30px;\">Should the Trump administration actually seek to end the EB-5 program, it would need its Republican allies in Congress to introduce a bill to do so. Such legislation would need to pass both houses of Congress, including the Senate, where standing rules require the invocation of \u201ccloture\u201d to limit debate and advance a bill to a final vote \u2014 else, the bill may be \u201cfilibustered.\u201d Invoking cloture requires 60 votes, and Senate Republicans (many of them supporters of the EB-5 program) only number 53. Unless the administration can convince at least seven Democratic senators to vote in favor of such a bill (which is unlikely), assuming that all Senate Republicans support it, any legislation to abolish and\/or replace the EB-5 program will never be passed.<\/p>\n<p>The Immigration and Nationality Act (8 U.S.C. \u00a7 1151\u20131153) allocates a yearly supply of visas for each employment-based visa category, including EB-5.<\/p>\n<p>In its current form, the EB-5 program was <a href=\"https:\/\/eb5visainvestments.com\/2022\/03\/16\/eb-5-reform-and-integrity-act-of-2022-signed-into-law-regional-center-program-reauthorized\/\" target=\"_blank\" rel=\"noopener\">signed into law in March 2022<\/a> through bipartisan support in Congress. The EB-5 Regional Center Program is valid through 2027, and the direct investment model does not require periodic reauthorization.<\/p>\n<h4 id=\"h4\" style=\"padding-left: 30px;\">2. It\u2019s Unclear How President Trump Will Proceed<\/h4>\n<p>President Trump is expected to provide more details on his \u201cGold Card\u201d in the coming weeks. Until then, it is unclear how he will proceed.<\/p>\n<p>With his background in real estate, the President is likely aware of the significant benefits of EB-5 funding for U.S. developers. President Trump\u2019s own developments have been <a href=\"https:\/\/www.wsj.com\/articles\/sec-looks-into-kushner-cos-use-of-eb-5-program-for-immigrant-investors-1515240181\" target=\"_blank\" rel=\"noopener\">linked to EB-5 funding<\/a> in the past. How likely is it that the President will seek to end the EB-5 program? We simply cannot tell, yet.<\/p>\n<p>Could the \u201cGold Card\u201d program coexist with EB-5 as a separate option for wealthier investors? We think this is much more likely than the EB-5 program ending.<\/p>\n<h3 class=\"butu-new\" style=\"text-align: center; width: 50%; margin-bottom: 20px;\"><a href=\"https:\/\/eb5visainvestments.com\/wp-content\/uploads\/2025\/02\/EB5AN-Open-Letter-to-President-Trump_250228_175613.pdf\" target=\"_blank\" rel=\"noopener\">Read Our Open Letter to President Trump<\/a><\/h3>\n<h3 id=\"h5\">Key Takeaways<\/h3>\n<p>While President Trump\u2019s plans for the EB-5 program are unclear, the law governing EB-5 remains intact\u2014for now. The regional center program is <a href=\"https:\/\/eb5visainvestments.com\/2022\/06\/27\/eb-5-regional-centers-resume-operations-key-takeaways-for-new-eb-5-investors\/\" target=\"_blank\" rel=\"noopener\">valid until 2027<\/a>, and any EB-5 investors who invest before September 2026 will be \u201cgrandfathered in\u201d if the program lapses.<\/p>\n<p>Historically, USCIS has favored protecting pending EB-5 petitions in the case of major policy changes.<\/p>\n<p>It is unclear how the Trump administration will proceed. For now, we encourage you to watch and wait. Too little information is available to draw any conclusions. We will bring more information and analysis in the coming days.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Read Our Open Letter to President Trump On February 25, 2025, President Trump announced that he intends to create a new investment-based immigration program that he says would replace the EB-5 visa program. Under Trump\u2019s plan, foreign nationals could qualify for \u201cGreen Cards plus benefits\u201d and an eventual path to U.S. citizenship by investing $5 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":133782,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"about-us":[],"eb-5-program-page":[],"class_list":["post-133619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/eb5visainvestments.com\/pt-br\/wp-json\/wp\/v2\/posts\/133619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eb5visainvestments.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eb5visainvestments.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eb5visainvestments.com\/pt-br\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/eb5visainvestments.com\/pt-br\/wp-json\/wp\/v2\/comments?post=133619"}],"version-history":[{"count":0,"href":"https:\/\/eb5visainvestments.com\/pt-br\/wp-json\/wp\/v2\/posts\/133619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eb5visainvestments.com\/pt-br\/wp-json\/wp\/v2\/media\/133782"}],"wp:attachment":[{"href":"https:\/\/eb5visainvestments.com\/pt-br\/wp-json\/wp\/v2\/media?parent=133619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eb5visainvestments.com\/pt-br\/wp-json\/wp\/v2\/categories?post=133619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eb5visainvestments.com\/pt-br\/wp-json\/wp\/v2\/tags?post=133619"},{"taxonomy":"about-us","embeddable":true,"href":"https:\/\/eb5visainvestments.com\/pt-br\/wp-json\/wp\/v2\/about-us?post=133619"},{"taxonomy":"eb-5-program-page","embeddable":true,"href":"https:\/\/eb5visainvestments.com\/pt-br\/wp-json\/wp\/v2\/eb-5-program-page?post=133619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}