The US EB-5 program, which allows foreign investors to obtain a Green Card through an $800,000 investment, is at risk of being eliminated. Former US President Donald Trump has proposed a new ‘Gold Card’ visa, requiring a direct $5 million payment to the government, with no job creation or investment returns.
Impact on UAE Investors
This change poses a significant challenge for UAE-based high-net-worth individuals seeking US residency. Dubai-based attorney Shai Zamanian noted that the 525% cost increase makes US immigration far less accessible. Investors who previously relied on EB-5 to grow their businesses will lose the ability to recover their investment.
Urgent Action Required for EB-5 Applicants
Legal experts advise investors to file their EB-5 petitions immediately, as applications submitted before any legislative changes remain protected. Immigration firms are expediting applications to secure Green Cards under the current $800,000 threshold before the program potentially ends.
Congress Approval Needed
Despite Trump’s announcement, his proposal must pass through the US Congress. Immigration expert Rayad Kamal Ayub emphasized that changes to the EB-5 program require congressional approval, making the Gold Card visa unlikely to replace EB-5 without significant legal hurdles. However, uncertainty surrounding the policy has already led to a surge in inquiries about alternative citizenship programs.
Investor Uncertainty Grows
With the future of EB-5 in doubt, experts predict limited interest in the $5 million Gold Card, as it offers no return on investment. Immigration firms in the UAE report a spike in inquiries about alternative citizenship-by-investment programs, such as those in St. Kitts and Nevis.
