President Donald Trump recently proposed replacing the EB-5 visa programme with what he calls a “gold card.” According to Trump, this new initiative would allow wealthy individuals to gain green card privileges and a path to citizenship by paying approximately $5 million. Trump described the plan as a way to attract high-net-worth individuals who would contribute to the US economy.
The EB-5 visa programme allows foreign investors to obtain US green cards by investing in American businesses. The programme, originally designed to stimulate economic growth and job creation, requires investors to contribute between $800,000 and $1.05 million while proving that their investment creates at least ten US jobs.
Fraud associated with the EB-5 programme?
Commerce Secretary Howard Lutnick further elaborated on the plan, stating that the EB-5 programme was filled with fraud and inefficiencies. “The EB-5 program … it was full of nonsense, make believe and fraud, and it was a way to get a green card that was low price. So the president said, rather than having this sort of ridiculous EB-5 program, we’re going to end the EB-5 program. We’re going to replace it with the Trump gold card,” Commerce Secretary Howard Lutnick told reporters on Tuesday.
Trump argued that the new gold card system would bring in high-level professionals and job creators. Companies like Apple, he suggested, might purchase gold cards for top graduates, who they will employ, from elite American institutions like Harvard, and Stanford.
Can Trump legally end the EB-5 programme?
Legal experts question whether Trump has the authority to unilaterally terminate the EB-5 programme. Houston-based immigration attorney Steven Brown pointed out that EB-5 is a statutory programme, meaning it was created through congressional legislation. Since Congress reauthorised the programme in 2022, it cannot be ended by presidential order alone.
Additionally, Trump acknowledged that while his gold card initiative would offer a “very strong path to citizenship,” it would not grant citizenship directly. He admitted that congressional approval would be necessary for any citizenship-related reforms.
Brown said, “For what is worth, EB-5 is statutory and can’t be ended by the President. It would have to be Congress…who just reauthorized it in 2022. Not to mention the whole purpose of #EB5 is to take immigrant investors (who invest 800k-1.05 million) and show that their investment creates at least 10 US Jobs.”
The proposal has drawn criticism from immigration advocates and policymakers. Ajay Jain Bhutoria, a Democratic leader, argued that replacing EB-5 with a gold card system would favour the wealthiest applicants rather than those who contribute meaningfully to the economy. He emphasised the need for solutions that address backlogs and support economic growth rather than selling green card privileges to the highest bidder.
“Replacing the EB-5 program, Trump gold card’ is a step backward. It’s not about building a merit-based system—it’s about who can afford entry fee. We need solutions that clear the backlog, strengthen our economy , not auction off citizenship to the highest bidder,” stated Ajay Jain Bhutoria.