Trump’s “Gold Card” visa would be a separate category designed to attract the super-rich, potentially with benefits such as exemption from global income taxes. The concept, if implemented, could coexist with EB-5 rather than replace it — creating an alternative path for high-net-worth investors.

Could Trump End EB-5?

Despite his statement, Trump cannot unilaterally repeal the EB-5 program. Immigration laws are controlled by Congress (Article I, Section 8 of the Constitution). In 2022, Congress modernized and extended EB-5 through 2027 under the EB-5 Reform Act (RIA). This means that any effort to repeal EB-5 would require new legislation.

⚠ Executive Action Has Limits

While the president can influence immigration enforcement, directly ending EB-5 through executive action would immediately face overwhelming legal challenges. Congressional repeal remains the only viable path — and given the current balance of power, that appears unlikely.

Prospects

Trump’s announcement appears to be a move to expand and rebrand investment-based immigration to the U.S., rather than an intent to repeal EB-5. His administration may insist on a dual system — preserving EB-5 to attract capital to the U.S. economy and create jobs, and creating a “Gold Card” visa for the super-rich.

“Given the balance of power in Congress, repealing the federal EB-5 law appears unrealistic — EB-5 will remain in effect until at least September 2027.”

EB-5 Program

Remains in Force

Extended by Congress through September 2027. Cannot be repealed by executive action alone. RIA grandfathering protects filings through Sept. 30, 2026.

Gold Card Visa

Proposed New Path

A $1,000,000 non-refundable payment targeting ultra-high-net-worth individuals. Likely to coexist with EB-5 rather than replace it, if enacted.

Have questions about how these developments affect your EB-5 investment strategy? Speak with a qualified consultant today.

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