Gold Card Visa Lawsuit and What EB-5 Investors Need to Know in 2026 | Paperfree Magazine

A federal lawsuit filed in February 2026 is challenging the executive branch's authority to create a payment-based path to permanent residence — and while EB-5 is not the target, the case carries important implications for every investor navigating the U.S. immigration landscape.

A new term has entered the conversation in U.S. investment immigration circles: the "Gold Card." Depending on the source, it has been described as a bold streamlining of America's investor visa system or as a legally precarious shortcut that bypasses Congress entirely. For EB-5 investors — whether they are evaluating the program for the first time or already progressing through adjudication — the immediate question is simple: does this change anything for me? The answer, as of today, is no. But understanding why requires a closer look at what is being proposed, who is challenging it, and what the legal battle ultimately reveals about the durability of the EB-5 program itself.

What Is the Gold Card Visa Proposal?

As publicly described, the Gold Card concept would allow foreign nationals to obtain lawful permanent residence in the United States in exchange for a substantial financial contribution — reportedly in the range of five million dollars. Superficially, this may sound like a natural extension of investor-based immigration. In practice, however, the legal mechanics matter enormously. Rather than establishing a new immigrant visa category through legislation, the proposal is understood to work by routing applicants through existing employment-based classifications — most notably EB-1A (Extraordinary Ability) and EB-2 National Interest Waiver — while treating a large financial payment as a proxy for the congressionally defined eligibility criteria those categories require.

From a policy perspective, the appeal is understandable. For high-net-worth individuals who prioritize speed and simplicity, bypassing the structured requirements of the EB-5 program might seem attractive. EB-5 involves careful project selection, capital deployment into a job-creating enterprise, a multi-year investment period, and a two-stage petition process through USCIS. The Gold Card, as described, would compress this into a single transaction. The critical problem, however, is that U.S. immigration law is statutory. Congress writes the rules, sets the numerical limits, and defines what qualifies an investor for a green card. Executives implement, but cannot rewrite, those rules — or so the plaintiffs in a new federal lawsuit argue.

The Lawsuit: What Is Being Challenged and by Whom

In early February 2026, the American Association of University Professors, joined by several immigrant professionals, filed a complaint in the U.S. District Court for the District of Columbia. The lawsuit targets the Gold Card program on two distinct legal grounds. First, the plaintiffs argue that only Congress has the authority to create or materially alter immigrant visa categories, and that substituting a financial payment for congressionally mandated eligibility criteria exceeds the executive branch's statutory authority. Second, the complaint asserts that the policy was introduced without following the rulemaking procedures required under the Administrative Procedure Act — specifically, the notice-and-comment process through which federal agencies are required to solicit public input before implementing significant regulatory changes.

The relief sought by the plaintiffs is sweeping: they are asking the court to declare the Gold Card program unlawful and to enjoin its implementation. While the outcome of federal litigation is never certain and courts can take months or years to resolve major administrative law disputes, the case has immediately placed the Gold Card concept under a cloud of legal uncertainty. That uncertainty matters for any foreign national weighing whether to pursue this route to permanent residence.

Why EB-5 Investors Are Not Affected — and Why That Matters

To be clear: the Gold Card lawsuit does not target EB-5 in any way. The EB-5 Immigrant Investor Program was created by Congress through the Immigration Act of 1990 and significantly reformed and reauthorized through the EB-5 Reform and Integrity Act of 2022. It has explicit statutory authority, established regulatory frameworks, and a long track record of USCIS adjudication. Nothing in the Gold Card litigation alters the legal standing of the EB-5 program, changes current processing timelines, or affects the rights of investors whose petitions are in progress.

USCIS continues to accept and adjudicate I-526E petitions based on existing statutory requirements. Regional center projects remain eligible for I-956F approval. Rural EB-5 projects continue to benefit from priority visa processing, and qualified investors from countries without a visa backlog can realistically obtain their green card within twelve months of filing. None of this changes because a different, legally contested program is under scrutiny in federal court.

What the Litigation Reveals About Long-Term Program Stability

While the immediate impact on EB-5 investors is limited, the Gold Card lawsuit is instructive for a broader reason: it illustrates precisely why the statutory grounding of the EB-5 program matters so much as a long-term investment in one's immigration strategy. Immigration programs introduced through executive action — without Congressional authorization and without the procedural safeguards of formal rulemaking — are inherently more vulnerable to legal challenge, reversal by subsequent administrations, and uncertainty during the pendency of litigation. Investors who pursue those routes may find their status contested or their processing halted while courts deliberate.

The EB-5 program, by contrast, has survived multiple political administrations, major regulatory reform, periods of significant congressional scrutiny, and program lapse and reauthorization — all because it rests on a foundation of explicit legislative authority. Its requirements are demanding precisely because they are designed to be durable. The capital at risk, the job creation mandate, the investment period, and the two-stage petition structure are not bureaucratic inconveniences. They are the mechanisms through which Congress validated the program's legitimacy and insulated it from the kind of legal challenge now confronting the Gold Card concept.

How EB-5 Investors Should Interpret the Current Environment

The appropriate response to the Gold Card lawsuit, for an EB-5 investor, is neither alarm nor indifference. It is clarity. The legal and regulatory environment in which you are investing has not changed. Your I-526E eligibility criteria, your investment requirements, your expected processing timelines, and your ultimate path to permanent residence remain defined by statute and USCIS policy — neither of which is implicated by this litigation. What has changed is the broader public conversation about investment immigration, and in that conversation, the case for EB-5's legitimacy and stability has only strengthened.

If you are considering an EB-5 investment, now remains an effective time to act, particularly for Rural TEA projects that offer priority processing and faster green card timelines. Investors who file today can position themselves to benefit from current adjudication resources and avoid potential future changes in visa availability. Working with an experienced regional center and qualified immigration counsel will remain, as it always has been, the most reliable way to navigate the EB-5 process successfully.

The Bottom Line for Investors in 2026

The Gold Card lawsuit is a reminder that U.S. immigration policy operates within a legal framework that cannot simply be redrawn by executive initiative. When new programs are introduced without clear Congressional authorization, federal courts become the arbiter of their validity — and investors who have committed capital in reliance on those programs assume real legal risk. EB-5, by contrast, is not new, not legally contested, and not subject to the same structural vulnerabilities. For foreign nationals seeking a reliable, legislatively grounded path to permanent residence in the United States, the EB-5 Immigrant Investor Program continues to represent the most established and legally secure option available in 2026.

Source: eb5visainvestments.com — What EB-5 Investors Should Know About the Gold Card Lawsuit
https://eb5visainvestments.com/blog/what-eb-5-investors-should-know-about-the-gold-card-lawsuit/

This article is intended for informational purposes only and does not constitute legal or investment advice. EB-5 investors should consult with a qualified immigration attorney and review all relevant offering documents before making any investment decision.