EB-5 or Trump Gold Card: What Are the Key Differences?

What is the EB-5 Immigrant Investor Program?

The EB-5 Immigrant Investor Program was established by the U.S. Congress in 1990 to stimulate the national economy through foreign investment and job creation. Under this program, foreign investors who contribute to the American economy can obtain a pathway to U.S. permanent residency. The EB-5 program is designed for foreign nationals who invest in a “new commercial enterprise” in the United States, with their capital placed “at risk” for the purpose of generating a return.

The investment must also lead to the creation, or, in the case of a troubled business, the preservation of at least 10 full-time jobs for U.S. workers. In return, investors and their eligible family members (spouse and unmarried children under 21 years of age) are granted conditional permanent residency, which becomes unconditional upon demonstrating that the required job creation has been achieved. 

Plain Language Version: The EB-5 program lets foreign investors get a U.S. green card by investing in a business that creates at least ten full-time jobs for American workers. The money must be genuinely at risk, not guaranteed. If the investment meets the job requirement, the investor and their family can become permanent residents.

What is a Trump Gold Card?

The Trump Gold Card is a visa program established by Executive Order 14351, signed on September 19, 2025, which allows foreign nationals to obtain expedited U.S. permanent residency in exchange for a substantial financial contribution to the U.S. government. Its stated purpose is to provide a streamlined pathway to permanent residence for high-net-worth individuals. Under the Trump Gold Card program, applicants may qualify for residency through the EB-1 or EB-2 visa categories by making a significant financial contribution to the U.S. government. This contribution is treated as evidence of the applicant’s extraordinary or exceptional ability, or as proof of their potential to serve the national interest—consistent with the criteria of the EB-1 and EB-2 categories.

Notably, Section (f) of the Executive Order directs consideration of expanding the Gold Card program to visa applicants under 8 U.S.C. §1153(b)(5). However, despite this reference, the Trump Gold Card and the EB-5 Immigrant Investor Program remain fundamentally distinct in requirements and implications.

Plain Language Version: The Trump Gold Card is a new program created in 2025 that lets wealthy individuals get U.S. permanent residency faster by making a large, one-time payment to the U.S. government. The payment counts as proof of the applicant’s exceptional ability or value to the country, allowing them to qualify under the EB-1 or EB-2 visa categories. Unlike the EB-5 investor program, this option does not require creating jobs or starting a business.

Main Requirements

The EB-5 requires three core elements: capital investment, engagement in a new commercial enterprise, and job creation.

First, there must be a minimum capital investment of $800,000 for a targeted employment area (rural or high-unemployment area) and infrastructure projects or $1,050,000 for elsewhere. Capital doesn’t necessarily mean only cash; it includes, but not limited to, equipment, inventory, tangible property, or indebtedness secured by the investor’s assets. Such investment must be a risk, meaning there are no guaranteed returns.

Two, the investment must be either a direct investment in a new commercial enterprise or an indirect investment through a USCIS-designated regional center. The former may be suitable for entrepreneurs who want to engage in the management of the new commercial enterprise, either through managerial responsibility or through policy formulation. The latter may be suitable for passive investors.

Lastly, investment must create at least 10 full-time jobs for qualifying employees (i.e. U.S. citizens, lawful permanent residents, or other immigrant lawfully authorized to work/stay). For troubled businesses, investment must preserve existing jobs at pre-investment level for 2+ years. The investor must still demonstrate that 10 jobs have been preserved, created, or some combination of the two. 

On the other hand, the main requirement for the Trump Gold Card is a one-time contribution to the U.S. government: $1 million for individual applicants and $2 million for a corporation applying on behalf of an individual. 

Implications

The previously outlined differences have two key implications: capital recovery potential and the immigration pathway. EB-5 investors have two primary ways to recover their capital. First, they can receive returns through profit distributions. If the business succeeds, investors may benefit from profits even before meeting the 10-job creation requirement. Once the 10-job threshold is achieved and the I-829 Petition by Investor to Remove Conditions on Permanent Resident Status is approved, USCIS no longer requires the investment to remain “at risk” for immigration purposes. At this point, investors can legally recover their capital in accordance with the terms of their agreement with the business or regional center. In other words, EB-5 investors not only have the potential to earn profits during the investment period but may also reclaim their full initial investment once the conditional period has ended and 10 full-time jobs have been created.

In contrast, the Trump Gold Card represents a direct contribution to the government for expedited immigration rather than an at-risk investment. There is no mechanism for capital recovery under this program. Considering the similar investment amounts, $1.05 million for EB-5 and $1 million for the Trump Gold Card, the ability to earn profit distributions and reclaim the initial investment after I-829 approval provides a notable advantage for EB-5 investors.  

Regarding the immigration pathway, EB-5 investors initially receive a conditional green card (valid for 2 years) upon approval of the I-526 petition (or I-526E for regional center investments). After this period, once the investment has remained at risk for two years and the 10-job creation requirement is met, investors file the I-829 petition. Upon approval, they are granted permanent residence.

In contrast, the Trump Gold Card offers lawful permanent residency under EB-1 or EB-2 categories, provided the applicants meet eligibility and admissibility requirements.

The EB-5 immigration process is indeed more complex and requires an additional petition compared to the straightforward path of the Trump Gold Card.

Conclusion

While both the EB-5 Immigrant Investor Program and the Trump Gold Card provide foreign nationals with pathways to U.S. permanent residency through substantial financial commitments, they represent fundamentally different approaches to immigration policy. The EB-5 program emphasizes economic investment with inherent entrepreneurial risk, requiring job creation while offering the potential for capital recovery and profit generation. In contrast, the Trump Gold Card prioritizes expedited processing through direct government contribution, sacrificing any possibility of financial return for administrative simplicity.

For applicants weighing these options, the choice ultimately depends on individual priorities and circumstances. High-net-worth individuals seeking the fastest, most straightforward route to permanent residency may find the Trump Gold Card attractive despite its non-recoverable contribution. However, those willing to navigate a more complex process and engage with the U.S. economy through active or passive investment may find greater long-term value in the EB-5 program, particularly given the potential to recover their capital and earn returns while still achieving the same immigration objective.

As Section (f) of Executive Order 14351 contemplates potential expansion of the Gold Card program to the EB-5 category, understanding these distinctions becomes increasingly important for prospective immigrants, policymakers, and immigration practitioners alike. The ultimate success of either program will depend on how effectively it balances the dual goals of attracting foreign capital and serving broader national economic and/or immigration interests.

Plain Language Version: Both the EB-5 Program and the Trump Gold Card let foreign investors gain U.S. permanent residency through significant financial contributions, but they work in very different ways. The EB-5 focuses on investing in businesses that create American jobs, allowing investors to possibly earn profits and get their money back later. The Trump Gold Card, on the other hand, offers a faster and simpler path by making a direct payment to the U.S. government, but the money is not refundable.

Choosing between them depends on what matters most to the applicant. Those who value speed and simplicity may prefer the Trump Gold Card, while those interested in building or investing in U.S. businesses—and possibly earning returns—may find more benefit in the EB-5 route. Understanding these differences is important for investors and policymakers as the government considers expanding the Gold Card concept to other visa categories.

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