Trump's $5 Million Green Card Plan
Trump Offers New 'Golden Visa': UAE Investors Face 525% Increase for Green Card
The United States is on the brink of a new chapter in its immigration policy as President Donald Trump announced plans to replace the existing EB-5 investor program with a new, more expensive 'golden card' system. This change poses a significant challenge for high-net-worth investors in the United Arab Emirates (UAE) and the GCC region who are eager to obtain U.S. citizenship quickly.
What exactly is the EB-5 Program?
The EB-5 Immigrant Investor Program was established by the U.S. Congress in 1990 to stimulate the American economy through foreign investments. The program allows investors to obtain a green card by making an investment of $800,000, on the condition that their investment creates new jobs in the U.S. The program has been particularly popular among high-income investors in the UAE, who have used it to secure access to American education, healthcare, and business opportunities for their families.
The new 'golden card' and its implications
President Trump announced that the EB-5 program would be replaced by a new system called the 'golden card,' in which investors need to pay the U.S. government $5 million (approximately 18.35 million dirhams) to obtain a green card and potentially citizenship. This amount is non-refundable and comes with no investment returns or job creation obligations.
According to the legal director of the Dubai-based American Legal Centre, this change will have a dramatic impact on investors living in the UAE. "If the EB-5 program is indeed replaced by the golden card system, the cost of obtaining a green card will increase by 525%. For many investors, this will no longer be feasible, as they will have to pay $5 million upfront instead of the previous $800,000 investment, and this amount will not be recouped," he explained.
What to do if you plan to get a green card now?
Due to the uncertainty, the best strategy is for investors to submit their applications for the EB-5 program as soon as possible. "Applications submitted under the current rules are protected, even if the program is later terminated. Therefore, I advise families living in the UAE to take this step as quickly as possible, as time is running out fast," he emphasized.
The EB-5 program is still valid in its current form, and investors have the opportunity to obtain a green card under the old conditions. The next two weeks are crucial, as the program's future is uncertain following Trump's announcement.
Congressional approval needed
The executive director of the UAE-based Rayad Group Immigration Company stated that Trump's plan cannot be realized without congressional approval. "Trump's announcement alone does not change anything regarding the EB-5 program. The program was created by Congress in 1990 and has been extended multiple times. The last major change occurred in March 2022 when President Joe Biden signed the EB-5 Reform and Integrity Act, extending the program until September 2027," he explained.
Congress is unlikely to pass Trump's plans, as the EB-5 program creates jobs in many regions, and representatives want these projects to continue operating. "The EB-5 program can only be abolished if Congress passes a law allowing it. However, this is unlikely, as the program creates jobs in many places, and politicians are reluctant to take such a risk," he said.
Why has interest in the EB-5 increased?
Following Trump's announcement, numerous investors rushed to enroll in the EB-5 program at the last minute. In recent days, interest in the Dubai region has increased significantly. "Our clients and partners have also experienced a significant increase in the number of inquiries. People want to ensure they can obtain a green card under the old conditions," he said.
The true value of the 'golden card'
The new 'golden card' system may not be attractive to investors. "The $5 million sum is not an investment but rather a kind of donation to the U.S. government. Therefore, it is unlikely that many will apply for this opportunity, as investors usually want their money to at least partially return," he explained.
Summary
Trump's announcement opens a new chapter in U.S. immigration policy, but implementing the changes will not be easy. The EB-5 program remains in effect in its current form, and investors still have the opportunity to obtain a green card under the old conditions. However, due to uncertainty, many rush to submit their applications at the last minute. The 'golden card' system, although seemingly attractive, is unlikely to be as popular as the EB-5 program, as the high cost and lack of returns make it inaccessible for many investors.
