Important update on the EB-5 program
Yesterday’s announcement by President Trump and Commerce Secretary Howard Lutnick regarding plans to terminate the EB-5 program and introduce a $5 million “Gold Card” visa as a replacement took industry by surprise. First and foremost, we want to reassure our investors and partners that the EB-5 program remains in effect.
Here’s what we do know:
President Trump cannot unilaterally end the EB-5 program
The EB-5 program was created by Congress in 1990 and is codified in the Immigration and Nationality Act. Any attempt to eliminate or replace it requires legislative action, an unlikely scenario in a divided Congress.
The Regional Center program was reauthorized until 2027
The EB-5 Reform and Integrity Act (RIA) of 2022 has reauthorized the Regional Center (RC) program through September 30, 2027.
Grandfathering provisions protect Investors
Investors who file their I-526/I-526E petitions by September 30, 2026, are protected under the RIA’s grandfathering clause. This means your application will be processed even if future legislative changes occur.
The proposed “Gold Card” requires legislative approval
The introduction of a new $5 million “Gold Card” visa would necessitate new legislation passed by Congress. As of now, this is a proposal and has not been enacted into law.
Minimal fraud in EB-5 Program
A 2023 Government Accountability Office report found that less than 1% of EB-5 petitions were fraudulent in the 2021 fiscal year, countering claims of widespread abuse. The RIA has since implemented additional safeguards, further strengthening program integrity.
Take action now
If you’re considering EB-5, or are in the process of applying, we strongly encourage you to stay the course and move forward without delay. Waiting could subject you to uncertainties from potential legislative changes and possible increases in investment requirements. Securing your place in the program now ensures you benefit from current regulations and protections.
If you have any questions or require assistance with your application, please do not hesitate to contact us. We are here to support you through every step of the process.
Best regards,
The Team at EB5 Coast to Coast
