Our colleagues at EB5 Capital have issued the following statement in response to President Trump’s announcement yesterday regarding his new “Gold Card” idea. It is important to note that no policy change has officially been issued and any change will require congressional approval. Read on to see what EB5 Capital President Brian Ostar has to say:
EB-5 investors throughout the world are taking note of President Trump’s recent remarks regarding the EB-5 Program. Yesterday, the President announced impromptu plans to replace the EB-5 Program with a newly created “Gold Card” program. The announcement was brief, spontaneous, and lacked details, leading to much speculation about the future of EB-5.
To be clear, the EB-5 Program is current law and was reauthorized by Congress under the EB-5 Reform and Integrity Act of 2022 (“RIA”). It is set to expire on September 30, 2027. While the President can propose new immigration policies, only Congress has the power to pass new laws or amend existing ones, including the EB-5 Program. Any attempt to dismantle the program would require legislative action and would likely face immediate legal challenges. The President cannot unilaterally repeal a law through a tweet, press conference, or Executive Order. While his remarks may signal challenges for the program’s reauthorization in 2027, investors who have already invested or who plan to invest soon should feel safe knowing that the RIA remains in effect.
President Trump indicated that further details on his proposal would be released within the next two weeks. Once the President hears from the industry, it is also possible that they will back off of this entirely. Fortunately, the industry is now more unified than ever. EB5 Capital is closely monitoring the situation, and we will continue to provide you with timely updates as more information becomes available. In the meantime, we encourage investors to reach out with any questions.
Rest assured, EB5 Capital remains fully operational and is excited to announce the launch of two new projects tomorrow. We anticipate high demand for available spots and are prepared to support both our current and future investors every step of the way.
You can read more about EB5 Capital on their website, here.