- $5M investment threshold replaces EB-5's $1M minimum
- 8,000+ investor visas issued in 2022 under existing program
- Spain and UK abandoned similar programs amid market distortions
The proposed gold card visa program represents the most significant overhaul of US investment immigration in three decades. By quintupling the required investment to $5 million, the administration aims to attract ultra-high-net-worth individuals while addressing criticisms of the current EB-5 system. This bold move follows global trends where 37% of residence-by-investment programs have either been modified or discontinued since 2020 due to economic pressures.
Market analysts suggest the higher threshold could generate $40 billion annually if fully utilized, based on historical EB-5 participation rates. However, the Spanish experience demonstrates potential pitfalls - their 500,000€ property investment program contributed to a 68% price surge in Barcelona's luxury housing market before its 2023 termination. Similar concerns emerge for US commercial real estate markets where foreign investors already account for 18% of transactions.
Three critical differentiators could determine the program's success:
- Streamlined 90-day processing promise vs current 58-month EB-5 backlog
- Corporate participation allowances for portfolio diversification
- Potential state-specific investment corridors mirroring Qatar's freezone model
The UK's 2022 program closure due to national security concerns highlights necessary safeguards. Proposed biometric verification protocols and mandatory rural investment quotas might address these issues while directing capital to underserved regions. Immigration attorneys note that 42% of current EB-5 applicants could qualify for the new program through pooled investment vehicles.
Emerging tech hubs like Austin and Miami could benefit most, following Canada's successful tech visa experiment that attracted $2.4 billion in AI investments. However, the lack of clear green card quotas raises questions about program scalability. With 78% of millionaire investors preferring multiple residency options, the US program's success may hinge on maintaining competitive processing times against European alternatives.