What is the USA Golden Visa? A Game-Changing Opportunity
Introduction
The United States has long been a destination of choice for investors seeking new opportunities and a better quality of life. Among the various pathways to American residency, the EB-5 Immigrant Investor Program—commonly known as the USA Golden Visa—stands out as a direct route for wealthy individuals to obtain permanent residency through investment.
This program has recently gained renewed attention with President Donald Trump’s announcement of a potential “$5 million Gold Card” visa program, which would significantly alter the investment landscape for those seeking U.S. residency. The proposed changes represent a dramatic shift from the current EB-5 program, which requires investments starting at $800,000.
For investors worldwide, understanding the current EB-5 program and the potential changes ahead is crucial for making informed decisions about their immigration journey. This comprehensive guide explores what the USA Golden Visa entails, how it works, and what the future might hold for this investment-based immigration pathway.
What is the USA Golden Visa?
The USA Golden Visa refers to the EB-5 Immigrant Investor Program, established by Congress in 1990 to stimulate economic growth through foreign investment. Unlike employment-based or family-sponsored visas, the EB-5 program provides a direct pathway to permanent residency based on a qualifying investment in a U.S. business that creates jobs for American workers.
The term “Golden Visa” isn’t an official designation but rather a colloquial term used globally to describe residence-by-investment programs. The United States’ version stands among more than 100 similar programs worldwide, including those offered by Portugal, Spain, Greece, and other countries seeking to attract foreign capital.
What distinguishes the U.S. program is its dual focus on investment and job creation. Unlike some countries that simply require a real estate purchase or a passive investment, the EB-5 program mandates that investments must create or preserve at least 10 full-time jobs for qualifying U.S. workers.
According to the U.S. Citizenship and Immigration Services (USCIS), the EB-5 program was specifically designed to “stimulate the U.S. economy through job creation and capital investment by foreign investors.” This economic focus has made it a valuable tool for development projects across the country, particularly in areas with high unemployment.
History and Evolution of the EB-5 Visa
The EB-5 Immigrant Investor Program was created as part of the Immigration Act of 1990, during a period when the United States was seeking new ways to stimulate economic growth. Initially, the program required a $1 million investment and the creation of at least 10 jobs.
In 1992, Congress enhanced the program by creating the Regional Center Program, which allowed investors to pool their funds in USCIS-approved economic units focused on promoting job growth. This modification made the program more accessible and attractive to foreign investors who preferred not to manage businesses directly.
Over the decades, the program has undergone several adjustments:
- In 2019, investment thresholds were raised from $1 million to $1.8 million for standard investments, and from $500,000 to $900,000 for investments in Targeted Employment Areas (TEAs).
- In 2021, a court decision vacated these increases, temporarily reverting to the original thresholds.
- Later adjustments set the current requirements at $1,050,000 for standard investments and $800,000 for TEA investments.
The most significant potential change came in February 2025, when President Trump announced plans for a “$5 million Gold Card” visa program. According to ABC News, this new program would replace the existing EB-5 program, significantly increasing the investment threshold while potentially streamlining the path to permanent residency.
Eligibility Criteria for the EB-5 Visa
To qualify for the current EB-5 Immigrant Investor Program, applicants must meet several key requirements:
Investment Requirements
- Standard investment: $1,050,000 minimum in a new commercial enterprise
- Targeted Employment Area (TEA) investment: $800,000 minimum in a business located in a rural area or an area with high unemployment (at least 150% of the national average)
The investment must be “at risk,” meaning there can be no guarantee of return. This doesn’t mean the investment must be risky, but rather that the investor must have a genuine stake in the business’s success or failure.
Job Creation Requirements
Each EB-5 investment must create or preserve at least 10 full-time jobs for qualifying U.S. workers within two years of the investor’s admission to the United States as a conditional permanent resident. These jobs must be:
- Full-time positions (at least 35 hours per week)
- Permanent in nature (not seasonal or temporary)
- For qualified U.S. workers (citizens, permanent residents, or other work-authorized immigrants)
For direct investments, only direct jobs count toward this requirement. For Regional Center investments, both direct and indirect jobs (those created as a result of the investment but not within the business itself) may be counted.
Eligible Applicants
The EB-5 program is open to investors from any country, provided they:
- Can demonstrate that their investment funds were obtained through lawful means
- Have no disqualifying criminal or immigration history
- Meet health requirements
- Can prove the investment is their own funds (not borrowed)
Successful applicants can include their spouse and unmarried children under 21 years of age in their application, allowing the entire immediate family to obtain green cards through a single investment.
Investment Options for the EB-5 Visa
Investors pursuing the EB-5 visa have two primary investment pathways, each with distinct advantages and considerations.
Direct Investment vs. Regional Center Investment
Direct Investment
Direct investment involves establishing a new business, purchasing an existing business, or expanding a business. With this option:
- The investor typically takes an active role in managing the business
- The investment must directly create 10 full-time jobs
- The minimum investment is $1,050,000, or $800,000 in a TEA
- The investor has more control over the business operations
Regional Center Investment
Regional Centers are economic entities approved by USCIS to promote economic growth in specific geographic areas. Investing through a Regional Center offers:
- A more passive investment approach
- The ability to count indirect and induced jobs toward the job creation requirement
- Professional management of the investment
- Potentially lower risk through pooled investments
- The same minimum investment thresholds as direct investments
According to Holborn Pass, approximately 90% of EB-5 investors choose the Regional Center route due to its more passive nature and the ability to count indirect jobs.
Examples of Successful EB-5 Projects
Successful EB-5 projects span various industries, including:
- Real estate developments in major cities
- Infrastructure projects like bridges and highways
- Hotel and resort developments
- Healthcare facilities
- Manufacturing operations
- Technology parks
Many high-profile developments across the United States have been partially funded through EB-5 investments, including portions of Hudson Yards in New York City, the Hunters Point Shipyard project in San Francisco, and various hotel developments nationwide.
Application Process for the EB-5 Visa
Step-by-Step Guide to the EB-5 Visa Application
The EB-5 application process involves several stages and typically takes several years to complete:
Select an investment: Choose between direct investment or a Regional Center project.
Make the investment: Transfer the required funds ($1,050,000 or $800,000) to the appropriate business entity.
File Form I-526: Submit the Immigrant Petition by Alien Entrepreneur to USCIS, including documentation of the investment and business plan showing how jobs will be created.
Wait for I-526 approval: This typically takes 12-24 months, depending on USCIS processing times.
Apply for conditional permanent residency:
- If outside the U.S.: Apply for an immigrant visa through consular processing
- If inside the U.S.: File Form I-485 to adjust status
Receive a conditional Green Card: Valid for two years.
Fulfill the EB-5 requirements: Ensure the investment remains at risk and the required jobs are created.
File Form I-829: Within 90 days before the conditional Green Card expires, file a Petition to Remove Conditions on Residence, proving that all EB-5 requirements have been met.
Receive permanent Green Card: Once the I-829 is approved, conditions are removed, and the investor and family members receive permanent Green Cards.
According to GetGoldenVisa, the entire process from initial investment to permanent residency typically takes 3-5 years, though processing times can vary significantly based on USCIS backlogs and the investor’s country of origin.
The application process requires extensive documentation, including:
- Source of funds documentation
- Investment documentation
- Business plan
- Economic impact analysis (for Regional Center investments)
- Evidence of job creation
Due to the complexity of the process, most investors work with immigration attorneys specializing in EB-5 cases and financial advisors familiar with EB-5 investments.
Benefits of the USA Golden Visa
The EB-5 Immigrant Investor Program offers numerous advantages that make it attractive to wealthy individuals seeking U.S. residency.
Permanent Residency for Investors and Families
The most significant benefit is the ability to obtain permanent residency (Green Card) for the investor, spouse, and unmarried children under 21. This allows the entire family to:
- Live anywhere in the United States
- Work legally without employer sponsorship
- Start businesses
- Travel freely in and out of the country (with some restrictions)
Unlike other visa categories that may tie the visa holder to a specific employer or location, EB-5 investors have complete freedom to live and work anywhere in the United States.
Access to U.S. Education and Healthcare
Green Card holders through the EB-5 program gain access to:
- Public education from kindergarten through high school
- In-state tuition rates at public universities (which can be significantly lower than international student rates)
- The ability to apply for financial aid for higher education
- Access to the U.S. healthcare system, including Medicare benefits after qualifying periods
For many investors with children, access to the American education system is a primary motivation. The United States is home to many of the world’s top universities, and permanent residents have advantages in admissions and tuition compared to international students.
Pathway to U.S. Citizenship
Perhaps the most valuable long-term benefit is the pathway to U.S. citizenship. After maintaining permanent residency for five years, EB-5 investors and their family members can apply for naturalization to become U.S. citizens, provided they meet residency and other requirements.
U.S. citizenship offers additional benefits, including:
- The right to vote in U.S. elections
- Unrestricted travel in and out of the United States
- U.S. passport, which provides visa-free or visa-on-arrival access to approximately 187 countries
- Protection by U.S. consular services when traveling abroad
- The ability to sponsor certain relatives for immigration
As VisaGuide.World notes, this pathway to citizenship is a significant advantage of the EB-5 program compared to non-immigrant visa categories.
Challenges and Controversies
Despite its benefits, the EB-5 program has faced significant criticism and challenges over the years.
Fraud Risks in the EB-5 Program
The program has been plagued by instances of fraud, with some developers misusing investor funds or creating fraudulent projects. In 2021, the U.S. Government Accountability Office identified significant fraud risks in the program, particularly related to:
- Difficulties in tracing the origins of investors’ funds
- Challenges in verifying job creation claims
- Potential for money laundering
- Inadequate oversight of Regional Centers
These concerns have led to increased scrutiny of EB-5 applications and more rigorous due diligence requirements for both investors and projects.
Impact on Housing Markets and Local Economies
Critics argue that EB-5 investments can distort local housing markets and economies by:
- Concentrating investments in already-wealthy areas through gerrymandered TEAs
- Driving up real estate prices in certain markets
- Providing below-market financing to luxury developments rather than addressing community needs
These criticisms have led to reforms aimed at ensuring EB-5 investments benefit areas truly in need of economic development.
Comparison with Global Golden Visa Programs
The U.S. EB-5 program is often compared unfavorably to other countries’ golden visa programs in terms of:
- Cost: Many European programs have lower investment thresholds
- Processing time: Some countries offer faster pathways to residency
- Requirements: Job creation requirements make the U.S. program more complex
- Tax implications: U.S. citizens and permanent residents are subject to worldwide taxation
According to Al Jazeera, these concerns have led several European countries, including the UK, the Netherlands, and Greece, to roll back their golden visa programs in recent years.
The $5 Million “Gold Card” Proposal
In February 2025, President Donald Trump announced plans for a new “$5 million Gold Card” visa program that would significantly alter the landscape for investment-based immigration to the United States.
Key Differences in the $5 Million Proposal
According to BBC News, the proposed Gold Card would differ from the current EB-5 program in several key ways:
- Higher investment threshold: $5 million, compared to the current $800,000-$1,050,000 range
- Simplified requirements: Potentially eliminating or reducing the job creation requirement
- Faster processing: Promises of a more streamlined application process
- Corporate purchases: Companies, not just individuals, would be able to purchase Gold Cards
- Revenue generation: Trump suggested the program could help reduce the national deficit
Commerce Secretary Howard Lutnick indicated that the Gold Card would replace the existing EB-5 program, which he characterized as “full of nonsense, make-believe and fraud.”
Potential Benefits and Drawbacks
The proposed Gold Card program could offer several benefits:
- Increased revenue for the U.S. government
- Attraction of ultra-high-net-worth individuals
- Simplified application process
- Potentially faster pathway to permanent residency
However, critics have raised concerns about:
- The exclusionary nature of the high investment threshold
- Potential for money laundering and fraud without proper vetting
- Questions about Congressional authority, as Trump claimed the program wouldn’t require Congressional approval
- Ethical questions about essentially selling U.S. residency to the wealthy
As noted by Al Jazeera, the $5 million price tag would make the U.S. Gold Card “the most expensive golden visa option in the world,” though experts suggest there would still be demand if the pathway is “fast and smooth.”
FAQs About the USA Golden Visa
Common Questions About the EB-5 Visa
How long does the EB-5 visa process take? The entire process typically takes 3-5 years from initial investment to permanent residency, though processing times vary based on USCIS backlogs and the investor’s country of origin.
Can my family members get green cards through my EB-5 investment? Yes, your spouse and unmarried children under 21 years of age can receive green cards as derivatives of your EB-5 petition.
Do I need to speak English to qualify for an EB-5 visa? No, there is no English language requirement for the EB-5 visa, unlike some other immigration categories.
Can I work in the U.S. while my EB-5 application is pending? Not solely based on a pending EB-5 petition. However, if you’re in the U.S. on another work-authorized status, you can continue working under that authorization.
What happens if my EB-5 project fails? If your project fails but you can demonstrate that your investment remained “at risk” and the required jobs were created, you may still qualify for permanent residency. However, if the jobs aren’t created, your I-829 petition may be denied.
Can I get my investment back? The investment must remain “at risk” until the I-829 petition is approved. After that, depending on the terms of your investment, you may be able to liquidate or exit the investment.
Is there a limit on how many EB-5 visas are issued each year? Yes, the program is currently limited to approximately 10,000 visas annually, including visas for the investor’s family members.
Conclusion
The USA Golden Visa, or EB-5 Immigrant Investor Program, offers a unique pathway to U.S. permanent residency through investment and job creation. While the current program requires investments of $800,000 to $1,050,000 and the creation of at least 10 jobs, the proposed $5 million Gold Card would significantly alter this landscape.
For wealthy individuals seeking U.S. residency, the EB-5 program provides numerous benefits, including permanent residency for the entire family, access to American education and healthcare, and a pathway to U.S. citizenship. However, the program also comes with challenges, including long processing times, complex requirements, and the risk of fraud.
As the immigration landscape continues to evolve, potential investors should stay informed about changes to the program and work with experienced immigration attorneys and financial advisors to navigate the complex process. Whether through the current EB-5 program or the proposed Gold Card, investment-based immigration remains a viable pathway for those with the financial means to pursue it.
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