At Green Card Fund, we are committed to keeping our investor community informed about legal developments that impact U.S. immigration. On September 19, the Trump administration released two new executive orders—one introducing the so-called “Gold Card” program and another imposing new conditions on H-1B visa holders. While many details remain unclear, both measures carry important implications for global investors and professionals, particularly in India and China.
The Gold Card Executive Order
The first order establishes the Gold Card program, revising earlier announcements in key ways:
- Investment thresholds: Initially set at $5 million, the required contribution is now $1 million for individuals or $2 million for company-sponsored applicants.
- Dependents: Based on a close reading of the order, contributions appear to apply per person. Each dependent may require an additional contribution, though guidance on this remains unclear.
- Platinum Card option: While not included in the executive order itself, the official website TrumpCard.govdescribes a “Platinum Card,” which retains the $5 million contribution and provides an exemption from U.S. taxes on non-U.S. income.
It is critical to note that both Gold and Platinum contributions are non-refundable gifts to the U.S. Treasury, earmarked for deficit reduction at the discretion of the Secretary of Commerce. Unlike EB-5 investments, these contributions are not tied to projects, job creation, or a repayment mechanism.
Interaction with EB-1 and EB-2 Categories
The executive order states that Gold Card petitions will be processed through the EB-1 and EB-2 immigrant visa categories. This is significant because:
- Increased demand: India and China already face extensive backlogs in EB-1 and EB-2. Gold Card usage could further extend wait times for existing applicants.
- Dependent treatment: EB-1 and EB-2 traditionally allow dependents to apply under the principal petition. How this reconciles with the Gold Card’s “per applicant” contribution model is unknown.
Only additional guidance, rulemaking, or legislation will resolve these uncertainties.
The H-1B Executive Order
The second order imposes a $100,000 fee on H-1B visa holders. Although the text is not entirely clear, the immediate reaction has been swift:
- Employer response: U.S. technology companies are advising H-1B holders abroad to return to the U.S. immediately. This includes both current employees with H-1B status and newly awarded H-1B lottery winners preparing to enter.
- Effective date/time: The order specifies that anyone entering the U.S. at 12:01 a.m. or after on Sunday, September 20 may be subject to the fee.
- Scope of application: It is unclear whether this applies only to first-time H-1B entrants or also to existing H-1B holders who travel abroad. To mitigate risk, companies are treating the fee as potentially universal. As of noon on Saturday September 20th, 2025 Axios has reported that based on conversations with a White House official, the fee will not apply to existing holders or renewals, only to the upcoming lottery cycle for new applicants. While this seems reassuring, tech company and other large employers of H1-B visa holders are urging all H1-B holders outside of the U.S to return today.
If broadly enforced, this fee could cost billions of dollars across the U.S. tech sector, as employers cover costs to retain their foreign workers.
Immediate Consequences
For H-1B visa holders, these developments create a climate of uncertainty, urgency, and fear. Many are questioning whether employers will continue sponsorship under such financial burdens.
For investors, the Gold Card program raises as many questions as it answers. While it offers a new pathway, its reliance on EB-1/EB-2 categories and non-refundable contributions distinguish it sharply from EB-5.
Green Card Fund’s Commitment
Immigration policy changes are about far more than statutes and rules – they touch families, careers, and futures. At Green Card Fund, we remain committed to:
- Monitoring developments closely.
- Providing clear, timely updates to our investor community.
- Offering perspective on how policy shifts may affect long-term immigration and investment planning.
This is a developing issue. As the administration issues clarifications in the weeks ahead, we will continue to share insights that help our investors and partners make informed decisions.
Disclaimer: This summary is based on the executive orders (Gold Card and H-1B) released September 19, 2025 and information available on TrumpCard.gov. The situation remains fluid, and future guidance or legislation may significantly alter the details described here.
