Recently, U.S. President Trump announced the launch of a new investment immigration plan called the 'Golden Card,' proposing to sell U.S. permanent residency to wealthy individuals worldwide for $5 million, fully replacing the EB-5 investment immigration program. This news has exploded like a bomb, instantly attracting widespread attention and heated discussions globally.
So, is Trump's plan to cancel the existing EB-5 investment immigration act feasible? Join the Worldway Group to see the professional analysis of Greenberg Traurig law firm.
Greenberg Traurig, LLP (GT Law Firm) has been established for over 55 years, with more than 2,750 lawyers in 14 countries worldwide, making it the largest law firm in the U.S. From 2008 to 2023, it ranked first in the number of lawyers on the Best Lawyers in America list. GT Law Firm's immigration and compliance practice has been consecutively rated as the best immigration practice department in the U.S. by Chambers USA from 2013 to 2023! GT Law Firm is also a good friend and long-term partner of the Worldway Group. The GT Law Firm lawyer team has visited the Worldway Group multiple times.
Below is the analysis from Greenberg Traurig law firm:
On February 25, 2025, President Trump announced his intention to terminate the EB-5 investment immigration program, which provides U.S. permanent residency to foreign investors. The program requires foreign investors to invest in U.S. businesses, with each investor needing to create 10 or more jobs. The investment amount is initially $1.05 million, but it can be reduced to $800,000 if invested in high-unemployment areas, rural areas, or through government infrastructure projects. Investors and their families can apply for U.S. citizenship after holding permanent residency for five years.
President Trump announced that the 'Golden Card' plan would replace the EB-5 visa. He stated that the Golden Card plan requires a $5 million investment, allowing investors to obtain a 'green card plus benefits,' including citizenship (which the EB-5 plan also offers). The President did not provide detailed specifics of the Golden Card plan but mentioned that details would be announced within the next two weeks. He also stated that the plan aims to attract wealthy individuals to start businesses in the U.S., helping to reduce the national deficit.
The power to enact and pass immigration laws to control entry, deportation, and naturalization affairs belongs to the U.S. 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 necessary and proper laws to exercise the powers granted by the Constitution. Similarly, the U.S. Supreme Court has ruled that Congress has 'plenary' power over immigration issues, meaning Congress has nearly complete authority in enacting 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 does not have the authority to overturn congressional acts, including the current EB-5 program. Likewise, Congress has exclusive control over employment-based green card quota allocations, and any changes to control require amendments to relevant regulations. The President can propose new immigration legislative proposals, but only Congress can enact new laws and amend existing ones. The President can 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 attempt to overturn the EB-5 program is likely to face direct resistance from the judiciary, and any such proposal would be prohibited and nullified.