In this episode of GT’s Immigration Insights series, Greenberg Traurig attorneys Kate Kalmykov and Jennifer Hermansky examine President Donald Trump’s recent announcement about introducing a Trump Gold Card, a new $5 million investment-based green card, and its implications for the existing EB-5 visa program in the United States.
Kate and Jen provide insights into the announcement’s intention to potentially replace or run the Gold Card program concurrently with EB-5. They highlight the intricacies and requirements of the EB-5 program.
While discussing the legislative process required to repeal or modify the EB-5 program, both attorneys note that changes to immigration law can occur through Congressional action which may occur in conjunction with recommendations from the executive branch. They also touch upon challenges such as expanding immigrant visa quotas and the possible reallocation of diversity visa numbers. The discussion also focuses on what the announcement means for current and pending EB-5-based green card holders and applicants.
The episode further explores international golden visa programs and how other countries structure investment immigration initiatives.