In the ever-evolving landscape of global residency and investment migration, one programme continues to endure: the U.S. EB-5 Immigrant Investor Visa. While discussions around new alternatives, including the proposed “Trump Gold Card,” have captured headlines in 2025, the EB-5 programme remains legally intact, operational, and increasingly relevant.
The EB-5 Programme: Still Active, Still Effective
The EB-5 visa, established in 1990, enables foreign investors to obtain U.S. permanent residency by investing in American businesses and creating jobs. Following a period of legislative uncertainty, the EB-5 Reform and Integrity Act (RIA) of 2022 brought renewed structure and stability to the programme. It extended the EB-5 Regional Center provisions until 30 September 2027 and introduced stronger oversight mechanisms to prevent misuse.
As of mid-2025, the programme remains fully open, with investors able to apply through either:
- A minimum $1.05 million investment, or
- A reduced $800,000 investment in Targeted Employment Areas (TEAs).
Applicants must also demonstrate that their investment creates at least 10 full-time U.S. jobs.
The U.S. Department of State’s most recent Visa Bulletin confirms that the EB-5 category remains “current” for most countries. While backlogs continue for countries like China and India, new applications from most other nationalities—including the UK—face no significant delays.
The Trump Administration’s “Gold Card” Proposal
In February 2025, former President Donald Trump made waves by announcing a proposed alternative to the EB-5: the “Gold Card”. Unlike the EB-5 visa, this initiative would offer U.S. residency to foreign nationals willing to invest $5 million, without the job creation requirement.
The announcement, described by some as a “fast-track residency option for the ultra-wealthy,” gained viral attention, with reports claiming over 15,000 sign-ups within the first 24 hours of launch. The plan is said to be undergoing a limited trial phase, though details about legal standing, implementation authority, and Congressional support remain vague.
Some reports suggest the card would also include favourable tax treatment, potentially exempting holders from U.S. taxes on foreign income. If enacted, such provisions would mark a dramatic departure from existing norms and would likely face legal and political scrutiny.
Does This Threaten the EB-5 Programme?
Despite the attention around the Gold Card proposal, it’s important to understand that EB-5 is a Congressionally established programme. The Trump administration, even in a future leadership scenario, cannot unilaterally dismantle it without Congressional approval.
Moreover, the RIA legislation offers protections for investors who apply under current rules. Those filing before September 2026 are entitled to adjudication even if changes occur after that point.
Current sentiment in the legal and investment migration community suggests that, if the Gold Card progresses, it would more likely operate alongside EB-5, rather than replacing it. Where EB-5 requires job creation and a structured process of immigration compliance, the Gold Card appears to target ultra-high-net-worth individuals seeking simplified access perhaps with entirely different oversight requirements.
Still, without clear legislative grounding, many see the Gold Card as a speculative and politically charged concept, not yet suitable as a planning tool for serious investors or advisors.
EB-5 in 2025: The Practical Realities
For legitimate investors, EB-5 continues to offer one of the most direct paths to U.S. permanent residence. As of this year:
- Adjudication times for the Form I-526E have stabilised under 12 months in many cases.
- Family members can be included in the same application, making it attractive for relocation and education planning.
The programme has also seen increased uptake from countries outside the traditional markets of China and India, including the UK, South Africa, Brazil, and the Middle East. The predictable structure and pathway to a Green Card make EB-5 an enduring option in the eyes of global advisors.
Looking Ahead
While the media may be captivated by bold headlines and billionaire soundbites, the investment migration community knows that credibility, continuity, and compliance are what matter most. The EB-5 visa remains a regulated, legal, and established pathway for investors seeking to make a real economic impact in the United States.
Meanwhile, Trump’s Gold Card—if it materialises it may add a new tier to America’s investor immigration landscape. But until formalised through the Congressional process, it remains an idea more than an institution.
For now, the EB-5 visa is not only still on but also thriving, adapting, and continuing to serve investors who seek substance over spectacle.
