America remains one of the world’s top destinations for global investors, entrepreneurs, and high-net-worth individuals seeking permanent residency. A U.S. green card provides unmatched access to economic opportunity, world-class education, and global mobility.
On September 19, 2025, President Trump signed executive order, creating the Gold Card, a new visa program designed for ultra-high-net-worth individuals. Under this initiative, eligibility is tied to an unrestricted contribution of $1 million made directly to the Department of Commerce, or $2 million if the contribution is made by a corporation on behalf of an individual.
For years, the EB-5 Green Card has been the leading option for foreign nationals pursuing U.S. residency through investment. However, with the introduction of the Gold Card program, the White House has unveiled a faster, more direct pathway for the world’s wealthiest applicants.
Today, high-net-worth individuals have multiple immigration options—each with distinct requirements, investment levels, and advantages—when seeking to establish permanent residency in the United States.
This development raises an important question: Should investors pursue the proven EB-5 Green Card or take a chance on the new Gold Card?
This article offers a detailed comparison of both programs and addresses the key questions investors are asking in 2025. Before deciding which option best fits your immigration goals, consult with an experienced immigration attorney.
What Is the EB-5 Green Card?
The EB-5 visa program, established by Congress in 1990, was designed to boost the U.S. economy by attracting foreign investors whose capital contributions generate jobs and stimulate economic growth.
To qualify:
- Investors must put at least $800,000 into a project in a Targeted Employment Area (TEA) or $1,050,000
- The investment must create or preserve at least 10 full-time jobs for U.S. workers.
- Investors and their families (spouse and unmarried children under 21) can obtain U.S. permanent residency.
- Investors must establish eligibility by providing evidence of their investment and demonstrating business ability and contributions.
Eligible visa applicants with exceptional business ability may qualify under certain categories, and establishing eligibility requires meeting strict business and investment criteria.
The EB-5 program has a strong statutory foundation, decades of case history, and structured compliance systems through Regional Centers.
What Is the U.S. Gold Card Program?
Announced in September 2025, the Gold Card is a new visa program designed to attract high-net-worth individuals. Applicants must meet requirements set forth by applicable law in order to qualify.
Key features:
- Requires a $1 million nonrefundable unrestricted gift to the U.S. government. A nonrefundable processing fee may also be required as part of the application process.
- Does not require job creation or risk investment.
- Applicants and their families would receive permanent residency if approved.
Gold card petitions are submitted by high-net-worth individuals seeking expedited residency through this program.
The intended purpose of the visa program is to attract high-net-worth individuals for the national benefit, and it is designed to visa applicants who can demonstrate substantial financial contributions.
Unlike the EB-5 Green Card, however, the Gold Card was created by executive order. President Trump signed the order to establish the Gold Card visa program, and the process of establishing the program is ongoing. This makes it politically fragile and vulnerable to repeal by a future administration.
EB-5 Green Card vs. Gold Card: What Are the Legal Differences?
EB-5 Green Card – Statutory Stability
- Created by the Immigration Act of 1990.
- Codified in the Immigration and Nationality Act (INA).
- Can only be significantly changed or repealed by Congress.
- Strengthened by the EB-5 Reform and Integrity Act of 2022.
Gold Card – Executive Action Fragility
- Created through executive order, not legislation.
- Can be revoked or modified by any future president.
- May face litigation from lawyers, advocacy groups, or current EB-1/EB-2 applicants.
Bottom line: The EB-5 Green Card is legally durable, while the Gold Card is vulnerable to political change.
How Much Do You Need to Invest or Donate?
EB-5 Green Card Investment Requirements
- $800,000 in a TEA or $1,050,000 in a non-TEA project.
- Investment must be “at risk.”
- Job creation is required.
- Capital may be returned once the investment cycle is complete.
Compared to the Gold Card, the cost and overall costs of the EB-5 program are significantly higher, making the Gold Card a more cost-effective option for applicants seeking investment migration opportunities.
Gold Card Donation Requirements
- $1 million nonrefundable donation to the U.S. government, which applicants must pay as part of the process.
- No investment structure, no job creation, and no possibility of return.
Applicants for the Gold Card spend significant sums to secure U.S. residency through this program.
Key takeaway: EB-5 offers the chance of financial recovery and economic participation. The Gold Card requires an irrevocable gift.
Which Program Has Faster Visa Availability?
EB-5 Green Card Visa Backlogs
- Most countries: Visa numbers are current.
- China and India: Significant backlogs, sometimes years-long.
- Other countries: EB-5 remains one of the fastest residency-by-investment programs globally.
Gold Card Visa Allocation
- Structured under EB-1 or EB-2 categories.
- EB-2 backlog: India (12+ years), China (4+ years).
- EB-1 backlog: 2–3 years for China and India.
If Gold Card applications consume EB-1/EB-2 numbers, lawsuits and delays are likely.
Do EB-5 or Gold Card Applicants Get Grandfathering Protection?
- EB-5 Green Card: Thanks to the EB-5 Reform and Integrity Act, applications filed before the cutoff date of September 30, 2026, are grandfathered, meaning they will still be processed even if the program ends.
- Gold Card: If repealed by a future administration, pending applications could be voided with no refund. Applicants may also be subject to loss of legal status or other legal consequences if the program is terminated while their application is pending.
How Do the Risks and Rewards Compare?
EB-5 Green Card
- Risks: Investment loss, USCIS delays, visa backlogs for some countries.
- Rewards: Statutory protection, potential return of capital, contribution to U.S. job growth, secure path to permanent residence.
Gold Card
- Risks: Nonrefundable $1 million donation, political fragility, legal uncertainty, unclear family benefits.
- Rewards: Potentially faster approvals — but only if the program survives judicial and political scrutiny.
What Are the Implementation Challenges of the Gold Card?
The EB-5 Green Card is fully operational with decades of established forms, Regional Centers, and compliance systems.
The Gold Card is still undefined. As of late 2025:
- No official USCIS forms have been released.
- Unclear whether donations are per person or per family.
- No clear guidance on visa number allocation.
- No published timeline for when applications will be accepted.
- The absence of published criteria makes it difficult for applicants to establish eligibility for the Gold Card.
Multiple government departments, including the Department of Commerce, Department of State, and Department of Homeland Security, are expected to be involved in implementing the Gold Card program. The Secretary of Commerce will likely oversee the program, with funds from gifts or contributions deposited into the U.S. Treasury to promote commerce and industry. DHS vetting will be required for applicants to address national security concerns, and transfer fees and procedures may apply for corporations or individuals seeking to transfer eligibility or status under the new program.
Until these details are finalized, the Gold Card remains speculative.
Could the Gold Card Face Legal Challenges?
Yes. The Gold Card is expected to attract litigation on several grounds:
- Visa allocation disputes with EB-1/EB-2 applicants. Legal challenges may focus on whether the Gold Card program complies with applicable law and provides sufficient evidence of eligibility for an immigrant visa.
- Constitutional challenges that only Congress can create new immigration categories.
- Public opposition to the perception of “selling” U.S. green cards.
Consideration of a national interest waiver may also arise in legal disputes over the program’s implementation, particularly regarding whether such waivers are appropriate or necessary under the applicable law.
The EB-5 program, on the other hand, has survived decades of scrutiny, reforms, and lawsuits, and remains firmly embedded in U.S. immigration law.
Practical Advice: Which Program Should Investors Choose?
- If you are from a country without EB-5 backlog: File an EB-5 petition before September 30, 2026, to lock in grandfathering protections.
- If you are from China or India: EB-5 still works, though wait times are longer. The Gold Card will not help due to EB-1/EB-2 backlogs.
- If you are considering the Gold Card: Treat it as speculative. Do not delay EB-5 filings. The intended plan of the Gold Card program is to attract high-net-worth individuals through gifts made on behalf of the applicant or their family, supporting national economic goals.
- For all applicants: Prepare thorough source and path of funds documentation, as it will be required for either program. Gifts must be properly documented and may be made on behalf of the applicant by a corporation or other entity.
Conclusion: Is the Gold Card or EB-5 Green Card Better?
The Gold Card program has generated headlines as a bold new residency option for ultra-wealthy individuals. But its fragility, lack of statutory basis, and reliance on nonrefundable donations make it risky and uncertain.
Before reaching a final verdict, it’s important to note that the Trump Gold Card and similar platinum card programs introduce a new status for wealthy individuals, offering significant benefits related to income, taxes, and legal residency. The Trump Platinum Card, in particular, is positioned as an exclusive option with unique tax advantages, allowing qualified individuals to potentially minimize U.S. taxes on overseas income. These programs are designed to attract global companies and investment, supporting American industry by encouraging innovation, job creation, and economic growth.
There are several visas available to high-net-worth individuals seeking U.S. residency or citizenship, including the Gold Card and the EB-5 Green Card. These visa programs serve as strategic tools for wealthy applicants to secure legal status and access various financial and legal benefits.
The EB-5 Green Card offers:
- Statutory stability.
- Established legal frameworks.
- Potential return of investment.
- Grandfathering protections.
- A proven track record of leading investors to U.S. permanent residence.
For committed investors, the EB-5 Green Card continues to be the most reliable pathway to U.S. residency. While the Gold Card presents an interesting new option, it should be viewed as an experimental program with uncertain outcomes. If you have questions about the Gold Card program or the EB-5 Green Card, we encourage you to contact our Raleigh, NC office for personalized guidance.