USA Golden Visa vs. EB-5 Visa: Key Differences Explained

Introduction

For foreign investors seeking to secure residency in the United States, investment-based immigration has long been an attractive pathway. The EB-5 Immigrant Investor Program has served as the primary route for decades, allowing investors and their families to obtain green cards through qualifying investments. However, recent developments have introduced a potential alternative – the proposed “USA Golden Visa,” also known as the Trump Gold Card.

Understanding the differences between these two programs is crucial for investors considering their options for U.S. residency. While the EB-5 program has a well-established framework with clear requirements and benefits, the proposed Golden Visa represents a significant shift in investment immigration policy with different thresholds and potential advantages.

This article explores the key differences between the USA Golden Visa and the EB-5 Visa, examining their investment requirements, benefits, and pathways to permanent residency and citizenship. Whether you’re a high-net-worth individual looking to relocate to the United States or simply interested in understanding U.S. immigration options, this comparison will provide valuable insights into these investment-based residency programs.

What is the USA Golden Visa?

The USA Golden Visa, officially proposed as the “Trump Gold Card,” is a new immigration initiative announced by former President Donald Trump in February 2025. This program aims to attract wealthy foreign investors by offering a pathway to U.S. residency and potentially citizenship in exchange for a substantial investment.

Unlike the established EB-5 program, the Golden Visa would require a significantly higher investment of $5 million. According to Trump’s announcement, this investment would grant investors “green card privileges, plus,” suggesting benefits beyond those offered by traditional permanent residency programs.

Commerce Secretary Howard Lutnick indicated that the Gold Card would formally replace the EB-5 visa program, with implementation potentially occurring within weeks of the announcement. However, it’s important to note that as of early 2025, the program remains in the proposal stage, with many details still undefined and subject to potential legal and legislative challenges.

Key Features of the Golden Visa

The proposed USA Golden Visa differs from existing investment immigration programs in several key ways:

• Higher Investment Threshold: At $5 million, the investment requirement is substantially higher than the EB-5 program and many global alternatives.

• Simplified Requirements: Early indications suggest the Golden Visa may not include the strict job creation mandates that characterize the EB-5 program, potentially offering a more straightforward path to residency.

• Expedited Processing: The program promises faster processing times compared to the often lengthy EB-5 application process, which can take several years.

• Potential Tax Benefits: Trump suggested the program might offer exemptions from U.S. tax jurisdiction on worldwide income, though specific details remain unclear.

According to India TV News, Trump claimed the program could potentially sell up to 10 million Gold Cards, generating significant revenue to address the federal deficit. However, experts have questioned the feasibility of this projection given the high investment threshold.

What is the EB-5 Visa?

The EB-5 Immigrant Investor Program, established in 1990, has been the primary investment-based pathway to U.S. permanent residency for over three decades. Created to stimulate economic growth through foreign investment and job creation, the program offers green cards to investors who meet specific capital investment and employment generation requirements.

According to Global Residence Index, the EB-5 program requires a minimum investment of $1,050,000 in a new commercial enterprise, or $800,000 if the investment is made in a Targeted Employment Area (TEA) – either a rural area or one with high unemployment. This investment must create or preserve at least 10 full-time jobs for qualifying U.S. workers within two years of the investor receiving conditional permanent residency.

The program underwent significant reforms with the EB-5 Reform and Integrity Act of 2022, which reauthorized the Regional Center Program through September 2027 and introduced enhanced oversight measures to address fraud concerns and improve program integrity.

Key Features of the EB-5 Visa

The EB-5 program offers several distinct features that have made it popular among foreign investors:

• Established Framework: With over 30 years of operation, the EB-5 program has a well-defined structure and clear guidelines for investors.

• Family Inclusion: The investor’s spouse and unmarried children under 21 can also receive green cards through the primary applicant’s investment.

• Permanent Residency: Successful applicants receive conditional permanent residency for two years, after which they can apply for permanent green cards if they’ve met all program requirements.

• Pathway to Citizenship: After maintaining permanent residency for five years, EB-5 investors can apply for U.S. citizenship, provided they meet all naturalization requirements.

• Investment Options: Investors can choose between direct investment in a new commercial enterprise or investment through a Regional Center, which allows for more passive involvement and indirect job creation counting.

As noted by SITG Capital, the EB-5 program has been a reliable path to U.S. residency for investors willing to commit to job creation and economic development, despite sometimes lengthy processing times and regulatory complexities.

Key Differences Between USA Golden Visa and EB-5 Visa

Understanding the fundamental differences between these two investment immigration pathways is essential for potential investors. Here’s how they compare across several critical dimensions:

Investment Threshold

The most significant difference between the two programs is the required investment amount:

• EB-5 Visa: Requires $800,000 for investments in Targeted Employment Areas (TEAs) or $1,050,000 for investments outside TEAs.

• USA Golden Visa: Proposes a flat $5 million investment requirement, regardless of location.

This substantial difference in investment threshold makes the Golden Visa accessible only to ultra-high-net-worth individuals, while the EB-5 program remains within reach for a broader range of investors.

According to Times of India, this significant price difference could dramatically impact the accessibility and appeal of U.S. investment immigration.

Job Creation Requirements

Another key distinction lies in the job creation mandates:

• EB-5 Visa: Requires the creation or preservation of at least 10 full-time jobs for qualifying U.S. workers within two years.

• USA Golden Visa: Early indications suggest it may not include strict job creation requirements, though final details remain unconfirmed.

This potential removal of job creation requirements would represent a fundamental shift in U.S. investment immigration policy, which has historically tied residency benefits to economic contributions beyond the initial investment.

Processing Times and Procedures

The programs also differ in their anticipated processing efficiency:

• EB-5 Visa: Processing times can be lengthy, often taking 20-27 months or longer, particularly for applicants from countries with high demand.

• USA Golden Visa: Promises expedited processing, though specific timeframes haven’t been established.

As Holborn Pass notes, processing times for investment visas can significantly impact investors’ planning and decision-making, making this a crucial consideration.

Pathway to Citizenship

Both programs offer routes to U.S. citizenship, but with different levels of clarity:

• EB-5 Visa: Provides a clear pathway to citizenship after maintaining permanent residency for five years and meeting naturalization requirements.

• USA Golden Visa: Trump described it as “a road to citizenship for people of wealth and great talent,” but specific requirements and timeframes remain undefined.

Financial and Legal Implications

The programs also carry different implications for investors:

• Taxation: While EB-5 investors are subject to standard U.S. tax regulations on worldwide income, the Golden Visa might offer some tax exemptions, though details remain unclear.

• Legal Status: The EB-5 program is established law, while the Golden Visa faces potential legal challenges regarding presidential authority to create new immigration categories without congressional approval.

As Big Immigration Law Blog points out, “The President does not have the authority to ignore or override an act of Congress, including the Immigration and Nationality Act (INA),” raising questions about the implementation of the Golden Visa without legislative action.

Pros and Cons of Each Program

When evaluating these investment immigration options, potential investors should consider the advantages and disadvantages of each approach.

Golden Visa Pros

• Simplified Process: The proposed program may eliminate complex job creation requirements and offer a more straightforward application process.

• Faster Processing: Expedited processing could reduce the waiting period for residency approval.

• Potential Tax Benefits: Possible exemptions from U.S. tax jurisdiction on worldwide income could benefit certain investors.

• Fewer Operational Requirements: Without job creation mandates, investors may have more flexibility in how they structure their U.S. presence.

Golden Visa Cons

• High Investment Threshold: The $5 million requirement is significantly higher than most global investment immigration programs.

• Uncertain Implementation: As a proposal, the program faces legal and legislative hurdles before becoming operational.

• Limited Track Record: Without established precedent, investors face uncertainty about program stability and outcomes.

• Potential Political Volatility: The program’s association with a specific administration raises questions about its longevity through political transitions.

EB-5 Visa Pros

• Established Program: With over 30 years of operation, the EB-5 program has a proven track record and clear guidelines.

• Lower Investment Threshold: At $800,000-$1,050,000, the EB-5 requires significantly less capital than the proposed Golden Visa.

• Clear Pathway to Citizenship: The program offers a well-defined route to naturalization after five years of permanent residency.

• Family Inclusion: Spouses and unmarried children under 21 receive the same immigration benefits as the primary investor.

EB-5 Visa Cons

• Job Creation Requirements: The mandate to create 10 full-time jobs adds complexity and risk to the investment.

• Lengthy Processing Times: Applications can take years to process, particularly for investors from countries with high demand.

• Regional Center Uncertainty: The Regional Center Program has experienced temporary lapses in the past, creating uncertainty for some investors.

• Complex Documentation: Proving lawful source of funds and meeting other requirements involves extensive documentation.

According to Savory and Partners, “When comparing the Gold Card Visa to other programs, it’s important to consider factors like investment amounts, processing timelines, tax benefits, and global access. The EU Golden Visas often offer better value for money.”

Global Context of Investment Visas

The USA Golden Visa and EB-5 program exist within a competitive global landscape of investment immigration options. Many countries offer residency or citizenship through investment, often at lower thresholds and with different benefits than the U.S. programs.

European Union member states like Portugal, Spain, and Greece offer Golden Visa programs with investment thresholds starting around €250,000-€500,000, significantly lower than both U.S. options. These programs provide residency in EU countries with potential pathways to citizenship and the ability to live, work, and travel throughout the Schengen Area.

Caribbean nations offer citizenship by investment programs starting at around $100,000-$150,000, providing valuable second passports with visa-free travel to numerous countries, including the EU Schengen Area and the UK.

As Golden Visas notes, “The EB-5 visa is essentially a green card through investment. Investors are rewarded with a green card (after two years), although these are limited to 10,000 applicants per year with 5,000 of this total reserved for regional centres.”

What sets the U.S. programs apart is access to the world’s largest economy and a clear pathway to U.S. citizenship. However, the high investment thresholds, particularly for the proposed Golden Visa, may limit their appeal compared to more affordable alternatives that offer similar or even broader global mobility benefits.

The U.S. also faces unique challenges in attracting investment immigrants due to its citizenship-based taxation system, which requires U.S. citizens to report and potentially pay taxes on worldwide income regardless of where they reside – a consideration not present in most other countries’ programs.

Future of U.S. Investment Visas

The announcement of the USA Golden Visa has created significant uncertainty about the future landscape of investment immigration in the United States. While the Trump administration has indicated that the Golden Visa would replace the EB-5 program, the legal and practical feasibility of this transition remains questionable.

According to IMI Daily, “The uncertainty caused by this announcement has created significant stress and fear among current stakeholders. On the immigrant side, we are already having difficult conversations with existing EB-5 investors who are deeply concerned about their ongoing EB-5 dependent status.”

Several factors will likely influence the evolution of U.S. investment visa programs:

1. Legal Challenges: Presidential authority to create new visa categories or eliminate congressionally established programs will face scrutiny in the courts.

1. Congressional Action: Any permanent changes to immigration law would require congressional approval, introducing political variables into the equation.

2. Stakeholder Resistance: The EB-5 industry, including regional centers, developers, and immigration attorneys, represents a significant economic interest that may oppose dramatic changes.

3. Market Response: Investor interest in the Golden Visa at its $5 million threshold will test the program’s viability and may influence policy adjustments.

4. Global Competition: Pressure from more affordable investment immigration options worldwide may push U.S. policymakers to reconsider program structures and requirements.

For current EB-5 investors, the EB-5 Reform and Integrity Act of 2022 includes grandfathering provisions that should protect their applications regardless of future program changes. However, prospective investors now face a complex decision-making environment with significant uncertainty.

How to Choose the Right Program

For investors considering U.S. residency through investment, navigating the current landscape requires careful consideration of several factors:

Financial Capacity and Investment Goals

• Budget Constraints: The substantial difference between the $800,000 EB-5 minimum and the $5 million Golden Visa threshold is a primary consideration.

• Return Expectations: EB-5 investments are designed to be “at risk” but with potential returns, while the Golden Visa’s investment structure remains undefined.

• Portfolio Diversification: Consider how either investment fits within your broader financial strategy and asset allocation.

Residency and Citizenship Objectives

• Timeline Requirements: If you need residency quickly, the promised expedited processing of the Golden Visa might be appealing, though the EB-5 program remains the only currently operational option.

• Family Considerations: Both programs extend benefits to immediate family members, but long-term planning should consider children approaching age 21.

• Citizenship Goals: If U.S. citizenship is your ultimate objective, the established pathway through EB-5 currently offers more certainty.

Risk Assessment

• Program Stability: The EB-5 program, despite periodic reauthorization requirements, has a 30-year track record, while the Golden Visa faces implementation uncertainties.

• Investment Security: EB-5 investments come with regulatory protections established through the Reform and Integrity Act, while Golden Visa safeguards remain undefined.

• Political Risk: Consider how changes in administration or policy might affect either program’s continuity and benefits.

Alternative Options

• Global Alternatives: Compare U.S. options with programs in other countries that might offer better value or align better with your objectives.

• Non-Investment Pathways: Explore other U.S. immigration categories that might apply to your situation, such as employment-based or family-sponsored visas.

As with any significant financial and life decision, consulting with qualified immigration attorneys and financial advisors is essential. These professionals can provide personalized guidance based on your specific circumstances and help navigate the evolving landscape of investment immigration options.

Conclusion

The introduction of the proposed USA Golden Visa represents a potential paradigm shift in U.S. investment immigration policy. With its $5 million threshold and promised expedited processing, it offers a distinctly different approach from the established EB-5 program, which has served as the primary investment pathway to U.S. residency for decades.

For prospective investors, the choice between these programs – assuming both become or remain operational – will depend on numerous factors, including financial capacity, timeline requirements, risk tolerance, and long-term immigration objectives. The EB-5 program offers a lower investment threshold and established pathway to permanent residency and citizenship, while the Golden Visa promises a potentially streamlined process for those able to meet its substantial investment requirement.

However, the uncertainty surrounding the Golden Visa’s implementation and the legal questions about presidential authority to replace the EB-5 program create a complex decision-making environment. Current EB-5 investors should take comfort in the grandfathering provisions of the Reform and Integrity Act, while prospective investors may benefit from a wait-and-see approach as the legal and political landscape evolves.

What remains clear is that investment immigration continues to be a valuable pathway for those seeking U.S. residency, offering benefits not just to investors and their families but also to the U.S. economy through capital infusion and, in the case of EB-5, job creation. As these programs evolve, staying informed about policy developments and consulting with immigration experts will be essential for navigating the path to U.S. residency through investment.

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