Trump Offers ‘Golden Visa’: UAE Investors Looking for Green Card have to pay 525% more
The EB-5 programme, which currently allows foreign investors to secure a Green Card through an $800,000 investment in a US job-creating project, may soon be eliminated entirely
High-net-worth individuals in the UAE and across the GCC who want to become permanent US residents within a short period of time, are now in a race against time following the recent announcement by US President Donald Trump to replace the existing EB-5 Immigrant Investor Programme with the ‘gold card’.
Trump said the ‘new gold visa’ — a pricier version of the traditional Green Card — could be bought for $5 million (Dh18.35 million) per applicant as a route to American citizenship.
“We are going to be putting a price on that card of about $5 million. It’s going to give you Green Card privileges, plus it’s going to be a route to (US) citizenship, and wealthy people would be coming into our country by buying this card,” Trump said, adding that details of the scheme will come out in two weeks.
What does this mean for UAE residents and prospective US immigrants?
Dubai-based US attorney and legal director of The American Legal Centre, Shai Zamanian, explained to Khaleej Times: “The announcement made by Trump at the White House alongside Commerce Secretary Howard Lutnick comes as a major shift in US immigration policy.
The EB-5 programme, which currently allows foreign investors to secure a Green Card through an $800,000 investment in a US job-creating project, may soon be eliminated entirely,” he noted.
The EB-5 Immigrant Investor Programme, administered by the US Citizenship and Immigration Services (USCIS), was created by the US Congress in 1990 to “stimulate the US economy through job creation and capital investment by foreign investors”.
Direct payment with no potential return
Under the new Gold Card scheme, individuals will need to pay a non-refundable $5 million fee directly to the US government, with no investment returns or job creation requirements.
“For high-net-worth individuals in the UAE and across the Middle East, this policy shift presents a critical decision point. The EB-5 programme has long been a preferred pathway for UAE-based investors seeking US residency for their families, providing access to world-class education, healthcare, and business opportunities,” noted Zamanian.
He added: “If the Trump Gold Card replaces EB-5, the cost of obtaining a US Green Card will increase by 525 per cent, making it far less accessible for many who were considering the EB-5 route. Investors who previously planned to leverage their business capital through EB-5 will no longer have the opportunity to recover their funds, as the Gold Card requires a direct government payment with no potential return on investment.”
“Trump’s attempt to end EB-5 will face significant legal hurdles and is unlikely to succeed without congressional approval,” he added.
Lock in Green Card applications now
Given the risk of uncertainty, Zamanian advised: “It’s best for investors to file petitions as soon as possible to lock in their Green Card under the current rules before any changes. The law is clear that petitions filed before any changes are protected.”
“For families in the UAE who have been exploring US immigration options, time is running out,” he underscored. “Applications for the EB-5 programme must be filed within the next two weeks to ensure eligibility before the programme is potentially terminated.”
“We are expediting EB-5 applications for UAE residents before any legislative changes take effect. We are actively advising investors to file immediately to secure their US Green Card at the current $800,000 investment threshold before it potentially disappears,” Zamanian added.
Congressional stamp required
Rayad Kamal Ayub, managing director of UAE-based Rayad Group’s Immigration Company, meanwhile, underscored: “Trump’s proposal will have to be passed by the US Congress.”
“Trump’s announcement changes nothing as far as EB-5 programme is concerned,” Ayub said, pointing out former US President Joe Biden on March 15, 2022, signed the EB-5 Reform and Integrity Act as part of the Consolidated Appropriations Act of 2022.
“This legislation introduced requirements for the EB-5 immigrant visa category and extends the authorisation for immigrant visas under the Regional Centre Programme until September 30, 2027,” Ayub explained, noting “the EB-5 programme was established by the US Congress in 1990, and every few years it has been extended.”
Ayub said there are more than 545 regional centres registered with the USCIS. “They have ongoing development projects. The EB-5 programme can only be annexed with the act passed by the congress. This is unlikely to pass because for every House Representative or Senator, the question is always about jobs in their constituencies.”
Ayub, however, noted their regional centres and partners “have seen sudden spurt of inquiries in last few days”.
“The oldest (1984) Citizenship by Investments by St Kitts and Nevis represented by our company worldwide has also seen a huge number of inquiries increase because of the uncertainty caused by Trump’s announcement,” he added.
“Trump’s proposal might pass but there would be hardly any takers. The $5 million price tag — please bear in mind — is not an investment but sort of a donation,” said Ayub.
Source: Khaleejtimes
