A newly launched program from President Donald Trump, known as the “Gold Card,” has quickly become part of the conversation around investor visas. Announced earlier this year at $5 million and now introduced through executive order at $1 million, the Gold Card is designed to offer residency for those willing to contribute significant funds. Supporters see it as a move to keep the United States competitive in attracting wealth and investment, though questions remain about how it will function in practice.
At the same time, immigrant investors continue to rely on the EB-5 visa, a program with more than three decades of history and well-defined requirements. While the Gold Card is new and untested, EB-5 remains a structured and proven pathway for families seeking permanent residency through investment.
Understanding the differences between these two options can help investors make decisions today while keeping watch on how the Gold Card develops over time.
What Exactly Is Trump’s “Gold Card”?
The Gold Card was rolled out as a brand-new program created by executive order. First floated with a $5 million price tag and later reduced to $1 million, it promises a streamlined path to residency in what Trump described as “record time.” A higher-tier “Platinum Card” has also been mentioned, though it was not included in the order.
Administration officials have positioned the Gold Card as a replacement for the EB-5 program, which has faced oversight concerns in the past. Commerce Secretary Howard Lutnick described EB-5 as “full of nonsense” and said the new card would raise the cost of entry for applicants while cutting down on the opportunities for fraud. The government has indicated plans to issue up to 80,000 Gold Cards, with the program projected to generate billions in revenue.
The slashed cost also places the Gold Card among the most competitive investor residency programs worldwide. In some countries, investor residency requires several million dollars in capital. However, the legal framework is still developing, and questions remain about implementation.
How Does the EB-5 Visa Work in Practice?
The EB-5 program, created in 1990, provides a pathway to permanent residency through investment in the U.S. economy. Applicants can invest directly into a business or through a regional center, both of which require capital to be placed at risk in a commercial enterprise. In return, investors receive conditional permanent residency for themselves and their immediate family members, which can later be converted into full green cards once the program’s requirements are met.
Meeting those requirements is not simple. The investment must generate at least 10 full-time jobs for U.S. workers, and applicants must present a detailed paper trail to prove their funds came from a lawful source. For many investors and their families, assembling the necessary evidence is the most demanding part of the process.
Yet despite these conditions, EB-5 has become a relied-upon pathway for many. Roughly 10,000 visas are allocated each year under the program. In 2024, consulates issued a record-breaking 12,055 EB-5 visas, demonstrating how it continues to serve as a practical option for families willing to navigate the requirements.
What Are the Key Differences Between the Gold Card & EB-5?
The most obvious difference lies in status. EB-5 is an existing program administered by U.S. Citizenship and Immigration Services (USCIS), while the Gold Card is a new program launched by executive order and still in the early stages of implementation.
The requirements of an EB-5 visa are well defined: an investment of $800,000 in a targeted employment area or $1,050,000 elsewhere, the creation of at least 10 full-time U.S. jobs, and documentation to prove the lawful source of funds. For the Gold Card, the threshold is a $1 million contribution to the federal government, with no job creation requirement.
There is also a contrast in purpose. EB-5 was designed to drive U.S. economic growth by channeling foreign capital into businesses that create jobs. The Gold Card, by contrast, is positioned primarily as a revenue-generating program. While EB-5 ties immigration benefits directly to economic outcomes, the Gold Card reflects a shift toward a contribution-based model.
Which Path Offers More Certainty for Investors Right Now?
EB-5 provides a clear, established route for families planning an immigration strategy today. The program has been tested over decades, and applicants can rely on defined steps. While the process can be lengthy, investors know what is expected of them and what they stand to gain, making long-term planning possible.
The Gold Card, by contrast, is brand new and still finding its footing. Although announced by executive order, the application process has yet to be fully rolled out, and potential legal challenges could affect its future. Until the first approvals are granted and the rules are tested in practice, the level of certainty it offers remains limited.
Could Trump’s Gold Card Ever Replace the EB-5 Visa?
New visa categories have historically taken time to establish. Programs must pass through legislative approval, regulatory design, and administrative rollout. Even then, they may face legal or political challenges before becoming permanent fixtures in the immigration system. As a result, it is difficult to predict whether the Gold Card could replace or supplement existing programs.
The EB-5 program has endured over three decades and has been renewed by Congress multiple times. That history suggests resilience. The Gold Card, if it remains in place, might complement EB-5 rather than replace it, serving different investor profiles or offering alternative requirements.
How Harrison Law Office Helps Families Navigate the EB-5 Process
The EB-5 program opens doors to U.S. residency, but it also demands meticulous records and careful planning. Harrison Law Office works alongside investors and their families to manage those requirements and keep the process organized.
Some of the ways Harrison Law Office supports EB-5 clients include:
- We review potential investment projects closely, focusing on whether they meet EB-5 criteria and align with a client’s long-term immigration plans.
- We help clients trace and document the origin of their funds, whether through employment income, business activity, gifts, or loans, and organize that evidence into a clear record for submission.
- Our attorney prepares and files the necessary petitions, ensuring that complex requirements are translated into complete applications with supporting exhibits.
- When government agencies request clarification or additional evidence, we help you develop detailed responses so that cases stay on track.
- Our team advises on what comes after initial approval, including preparing for the removal of conditions and addressing the immigration needs of family members.
Want to Go Deeper into EB-5’s Legal & Financial Mechanics?
For many applicants, the most challenging aspect of EB-5 is not the investment itself but documenting the lawful source of funds. This requirement ensures that investments come from transparent, verifiable origins. Families often rely on experienced legal guidance to assemble this evidence, which can involve tracing funds through salaries, gifts, loans, or accumulated savings.
Harrison Law Office has published a series of detailed blogs to help investors understand these requirements:
- Evidencing the Lawful Source of EB-5 Funds (Derivation)
- Documenting the Lawful Source of EB-5 Funds (Derivatives & Loans)
- Lawful Source of Funds: Documenting a Loan Used in EB-5
- Evidencing Salary Accumulation as the Lawful Source
- Documenting a Gift as the Lawful Source of EB-5 Capital
