Recently, President Trump announced a new investment immigration plan called the 'Gold Card', proposing to sell permanent residency in the United States to the wealthy worldwide for $5 million, entirely replacing the EB-5 investment immigration program. This news hit like a bomb, instantly provoking widespread attention and discussion globally.
So, is it feasible for Trump to cancel the existing EB-5 investment immigration statute? Let's take a look at the professional analysis from Greenberg Traurig, LLP.
Greenberg Traurig, LLP (GT Law Firm) has been established for over 55 years, with more than 2,750 attorneys across 14 countries, making it the largest law firm in the United States. From 2008 to 2023, it has ranked first in the number of attorneys on the Best Lawyers in America list. The immigration and compliance practice of GT Law Firm has been recognized as the best in the United States by Chambers USA from 2013 to 2023! GT Law Firm is also a good friend and long-term partner of the WorldWay Group. The attorney team from GT Law Firm has frequently visited the WorldWay Group.
Here is the analysis from Greenberg Traurig, LLP:
On February 25, 2025, President Trump announced plans to terminate the EB-5 investment immigration program that provides permanent residency to foreign investors. This program requires foreign investors to invest in U.S. businesses, and each investor must create 10 or more jobs. The investment amount is $1.05 million, but if invested in high-unemployment areas, rural areas, or through government infrastructure projects, the investment amount can be reduced to $800,000. Investors and their families may apply for U.S. citizenship after holding permanent residency for five years.
President Trump announced that he would replace the EB-5 visa with the Gold Card program. He stated that the Gold Card program requires an investment of $5 million, with investors receiving 'green card benefits', which include citizenship (as the EB-5 program does as well). The president did not provide detailed specifics about the Gold Card program, but he pointed out that the detailed plan would be released within two weeks. He also stated that the goal of this program is to attract the wealthy to start businesses in the United States and help reduce the national deficit.
The power to formulate and pass immigration laws that control entry and exit, deportation, and naturalization matters belongs to the United States Congress. This power is based on Article I, Section 8, Clause 18 of the U.S. Constitution, which grants Congress the authority to make all laws necessary and proper for executing the powers granted by the Constitution. Likewise, the U.S. Supreme Court has ruled that Congress has 'plenary' power over immigration matters, which means Congress has nearly complete authority in formulating and passing immigration laws. In 2022, Congress passed the EB-5 Reform and Integrity Act, extending the EB-5 program until September 30, 2027. The president has no authority to overturn congressional acts, including the current EB-5 program. Similarly, Congress has exclusive control over the allocation of employment-based green card quotas, and any changes to this control require amending the relevant regulations. The president can propose new immigration legislation, but only Congress can enact new laws and amend existing laws. The president may also enforce immigration laws through agencies such as the U.S. Citizenship and Immigration Services, U.S. Immigration and Customs Enforcement, and U.S. Customs and Border Protection. Any attempts to overturn the EB-5 program could face direct resistance from the judicial branch, and any such proposals would be prohibited and nullified.
For more policy analysis, feel free to contact the WorldWay Group, and we will share detailed information to help you navigate the situation. From GT Law Firm's analysis, it is evident that despite the Trump administration claiming that the Gold Card program will launch within two weeks, the plan faces challenges under the current immigration law system and congressional framework.
It is clear that currently, the EB-5 investment immigration program will not be affected. As everyone knows, the existing EB-5 program was reauthorized in 2022, and according to the 2022 EB-5 Reform Act, EB-5 has been explicitly written into law, and a 'grandfather clause' protects all EB-5 applications submitted before September 30, 2026, from being affected by future legal and policy changes. This means that EB-5 applications submitted before legal changes remain protected, and investors can still complete the immigration process according to the original policy.
For those intending to immigrate to the United States, especially in the current policy environment, considering potential future policy changes and uncertainties makes it particularly important to seize the current opportunity to process the EB-5 investment immigration project.
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