The proposed gold card visa is intended to supplant the EB-5 programme. However, significant legal questions arise, as the EB-5 program was reauthorized by Congress through 2027 under the EB-5 Reform

The proposed program would replace the existing EB-5 visa program, which was established by Congress in 1990. According to the U.S. Citizenship and Immigration Services, the EB-5 program allows foreign investors to obtain a two-year green card by investing $800,000 or $1,050,000 in projects that create at least 10 new jobs.

The president’s plan to offer permanent residency for $5 million would almost certainly require Congressional action.

U.S. President Donald Trump proposed a new $5 million 'gold card' visa, offering wealthy foreigners U.S. permanent residency and a path to citizenship. The new proposal would replace the current EB-5 program,

President Donald Trump has proposed a $5 million “Gold Card” visa to replace the EB-5 program, sparking debate over its prioritization of wealth over merit. The plan offers wealthy individuals expedited residency and citizenship.