The US runs two routes marketed as a "golden visa." EB-5 is the established one: $800,000 in a Targeted Employment Area or $1,050,000 standard, tied to 10 created jobs, structured as an investment rather than a gift (EB-5 Reform and Integrity Act, 2022). The Gold Card is new: a $1,000,000 non-refundable gift (per applicant, $2,000,000 for a corporate sponsor) plus a $15,000 fee, built on executive authority since September 2025, with applications open and exactly one confirmed approval as of mid-2026 (EO 14351; CBS News, April 2026; CNBC, May 2026).
This guide sits alongside our 2026 residency-by-investment overview: the EB-5 mechanics, what the Gold Card actually is, and where the two genuinely differ rather than overlap.
What does the EB-5 investor visa require in 2026?
$800,000 in a Targeted Employment Area (rural or high-unemployment) or $1,050,000 for a standard project, invested in a new commercial enterprise that creates or preserves at least 10 full-time US jobs within two years (EB-5 Reform and Integrity Act of 2022; USCIS). USCIS has confirmed both figures hold for fiscal year 2026, with the next statutory inflation adjustment due January 1, 2027.
The thresholds are not a fee. EB-5 is capital placed at risk in a qualifying project, with a job-creation test and USCIS adjudication at two separate stages, which is what keeps it a visa category rather than a payment. That is the central difference from the Gold Card, addressed below.
What’s the difference between a TEA and a standard EB-5 investment?
A Targeted Employment Area (TEA) is a rural area outside any Metropolitan Statistical Area and outside a town of 20,000 or more, or a census tract with unemployment at roughly 150% of the national average (USCIS). A TEA project, or a qualifying infrastructure project, reaches the lower $800,000 threshold; everything else needs $1,050,000.
The 2022 reform also reserved visa numbers for these categories, 20% for rural projects, 10% for high-unemployment TEAs, and 2% for infrastructure, with priority processing attached (EB-5 Reform and Integrity Act; USCIS). For investors from backlogged countries, a TEA or infrastructure project is now the faster lane, not only the cheaper one.
One rural TEA project in our inventory carries a confirmed EB-5 vehicle: Four Seasons Private Residences Telluride, from $4,155,000, qualifies at the rural TEA tier through CanAm Enterprises, a USCIS-designated EB-5 Regional Center whose Form I-956F for the project has USCIS approval. As with ORA by Casa Tua, the qualifying $800,000 EB-5 investment sits alongside the unit price, not inside it; it is the second listing in our inventory we can currently confirm as EB-5-compliant.
How long does the EB-5 path to a green card actually take?
Years, in stages. Form I-526E, the initial petition for a regional-center investment, runs roughly 24 to 38 months on average (USCIS). Approval brings conditional permanent residence for two years, granted through adjustment of status or consular processing. Near the two-year mark, the investor files Form I-829 to remove conditions, proving the capital stayed at risk and the 10 jobs were created, a petition that adds another 36 to 48 months before unconditional residency is confirmed (USCIS).
End to end, EB-5 is closer to a five-to-seven-year commitment than a fast entry, the trade-off for a route with 36 years of statutory history behind it. Citizenship follows the standard naturalization clock, roughly five years as a permanent resident, once conditions are removed.
What is the Gold Card, and how is it different from EB-5?
The Gold Card is not a new statutory visa category. It runs through the existing EB-1 and EB-2 employment-based green card categories, with the Department of Homeland Security treating a $1,000,000 gift (or $2,000,000 per employee for a corporate sponsor) as evidence the applicant substantially benefits the United States, created by Executive Order 14351 on September 19, 2025 (trumpcard.gov; DHS). Applications opened December 18, 2025, filed as Form I-140G plus the standard adjustment-of-status step, alongside a nonrefundable $15,000 processing fee.
The structural difference from EB-5 is plain. EB-5 is capital invested in a job-creating enterprise, tested against a job-creation requirement, and returned if the project performs. The Gold Card is a payment to the federal government, not invested and not returned, with no job requirement, resting on executive rather than legislative authority, which is where its legal footing is contested.
Is the Gold Card actually working yet?
Uptake has been thin. As of May 2026, DHS reported 338 applications and 165 processing fees paid; Commerce Secretary Howard Lutnick testified to Congress on April 23, 2026 that exactly one applicant had been approved, with “hundreds in the queue” (CNBC, May 2026; DHS filing; CBS News, April 2026). Two lawsuits are pending: one filed February 3, 2026 by the American Association of University Professors, arguing the program lacks statutory authority, and a separate suit over the administration’s refusal to disclose program documents.
Treat the Gold Card as unproven, not merely new. The government has confirmed one approval but has not publicly named that applicant, and the legal questions around executive-order-based immigration policy remain open. EB-5, whatever its pace, is statute-backed with three decades of adjudicated cases; the Gold Card has cleared exactly one verified approval against hundreds still in the queue.
Which route actually fits a real estate buyer?
| Route | Investment | What it actually is | Residency outcome | Path to citizenship |
|---|---|---|---|---|
| EB-5 (TEA) | $800,000 | At-risk investment, 10 jobs required | Conditional green card, unconditional after ~2 years | ~5 years as a permanent resident |
| EB-5 (standard) | $1,050,000 | Same, outside a Targeted Employment Area | Same | Same |
| Gold Card | $1,000,000 non-refundable gift ($2M/employee corporate) | Payment via EB-1/EB-2 categories, no job test | Lawful permanent resident status, subject to visa availability | Untested; standard ~5-year clock if granted |
EB-5 suits a buyer willing to hold capital at risk for years, in exchange for a return and a long, tested record. The Gold Card, on paper, suits a buyer who wants to skip the job-creation test and pay outright, but with no verified precedent yet, it is a bet on a program still being litigated, not a purchase with a known outcome.
Where does Miami real estate fit an EB-5 strategy?
Buying a residence directly does not, by itself, qualify for EB-5. The statute requires investment in a job-creating new commercial enterprise, and a personal home purchase is not that (USCIS). Real estate and EB-5 connect in developments that pair a qualifying regional-center investment, structured separately from the unit purchase, with the residence itself, and Miami carries a deep concentration of this kind of project given the city’s volume of new luxury supply.
Among the Miami-area developments in our inventory, ORA by Casa Tua is the one we can currently confirm is structured with an EB-5-compliant investment component, from $990,000. It is the listing we surface here specifically for EB-5-minded buyers; the qualifying investment sits alongside, not inside, the unit price, and the structure should be reviewed with EB-5 counsel before any commitment. We are still confirming EB-5 eligibility on the balance of our Miami and wider Florida inventory and will not represent a listing as EB-5-qualifying until that is verified.
The bottom line
EB-5 and the Gold Card get marketed together and should not be. EB-5 is a 36-year-old, statute-backed investment category, $800,000 in a Targeted Employment Area or $1,050,000 standard, with a job-creation test and capital that returns if the project performs. The Gold Card is an eight-month-old executive-order program built on a $1,000,000 non-refundable gift, running through existing EB-1/EB-2 categories, with 338 applications, one confirmed approval, and active litigation over whether it can lawfully exist in its current form.
For a buyer who wants a tested, statute-backed route to a US green card, EB-5 remains the default, even at a slower pace than the Gulf routes or the UAE’s property-based 10-year visa. For a buyer weighing the Gold Card, the honest position in mid-2026 is to wait for verified approvals before treating it as a working program.
The Brightwill view
We read the Gold Card the way we read any unproven program, as a proposal until it produces a verified outcome, not before. A $1,000,000 non-refundable gift with 338 applicants and a single confirmed approval is not yet a track record. EB-5, by contrast, has three decades of adjudicated cases behind it, which is why it remains the route we default to for principals asking about a US path.
Brightwill Luxury is a curated access platform, not a brokerage, law firm, or immigration adviser. The Miami properties we surface for EB-5-minded buyers are limited to those with a confirmed EB-5-compliant structure, and we say plainly where that confirmation is still pending. Work with immigration counsel who represent you, not the developer, before any capital moves on either route.
Discuss a US EB-5 or Miami real estate strategy with our advisory team →
BUYER QUESTIONS
Frequently Asked Questions
Buyer questions answered by Brightwill Luxury, the discovery platform connecting buyers with vetted luxury listings worldwide.
$800,000 in a Targeted Employment Area (rural or high-unemployment) or $1,050,000 for a standard project, invested in a new commercial enterprise that creates at least 10 full-time US jobs (EB-5 Reform and Integrity Act of 2022; USCIS). USCIS has confirmed these figures hold through fiscal year 2026.
A TEA is a rural area or a high-unemployment census tract, roughly 150% of the national unemployment rate (USCIS). TEA and infrastructure projects qualify for the lower $800,000 threshold and carry reserved visa numbers with priority processing; standard projects need $1,050,000 with no reservation.
The I-526E petition averages roughly 24 to 38 months, followed by conditional permanent residence for two years, then a further 36 to 48 months for the I-829 petition that removes conditions (USCIS). End to end, most investors are looking at five to seven years to unconditional permanent residency.
No. The Gold Card is a $1,000,000 non-refundable gift ($2,000,000 per employee for corporate sponsors) plus a $15,000 fee, administered through the existing EB-1/EB-2 categories under Executive Order 14351 (trumpcard.gov). It carries no investment structure and no job-creation test, unlike EB-5.
As of May 2026, 338 people had applied and 165 had paid the processing fee; Commerce Secretary Howard Lutnick testified on April 23, 2026 that exactly one applicant had been approved (DHS filing; CNBC, May 2026; CBS News, April 2026). The program also faces active litigation over whether it has lawful statutory authority.
Not on its own. EB-5 requires investment in a job-creating enterprise, separate from a personal home purchase (USCIS). Some Miami developments structure a companion EB-5 investment alongside a unit purchase; confirm the specific structure with EB-5 counsel before treating any listing as qualifying.
It is designed to be, if the underlying project performs. EB-5 capital must stay at risk through the conditional residence period and the I-829 filing, and returns depend on the specific project’s performance, not a guarantee (USCIS). This is the structural difference from the Gold Card’s non-refundable gift.
