• President Trump Announces “Gold Card” Residency Program for Wealthy Foreign Investors
• U.S. Implements New Alien Registration Requirement
• Immigration Compliance Alert: I-9 Audits Underway
• DHS Revokes Work Authorization Extension for Hong Kong DED Beneficiaries

President Trump Announces “Gold Card” Residency Program for Wealthy Foreign Investors

President Donald Trump announced a new “Gold Card” residency program, allowing wealthy foreign nationals to obtain U.S. permanent residency and a pathway to citizenship in exchange for a $5 million investment. The program, which Trump said will launch in two weeks, aims to attract high-net-worth individuals by offering green card privileges and expedited citizenship eligibility.

Commerce Secretary Howard Lutnick confirmed that the Gold Card will replace the EB-5 immigrant investor visa program, which currently grants green cards to foreign investors who create U.S. jobs with a minimum investment of $1.05 million (or $800,000 in targeted employment areas). The EB-5 program has faced bipartisan criticism for fraud concerns and lack of oversight, leading to multiple reform efforts in recent years.

This shift could significantly impact investment-based immigration, eliminating the EB-5 program and introducing a higher financial threshold for residency sponsorship.

Impact: Global mobility teams should monitor implementation details and assess how this change may affect foreign investors and corporate immigration strategies.

U.S. Implements New Alien Registration Requirement

On January 20, 2025, President Trump issued the Protecting the American People Against Invasion executive order directing U.S. Department of Homeland Security (DHS) to enforce alien registration requirements under INA §262 (8 U.S.C. 1302); a provision of the law that has never really been an enforcement priority. Announced on February 25, 2025, this new process is based on the creation of a USCIS online account with a new form and process. Non-citizens staying in the U.S. for 30 days or longer must register and be fingerprinted, unless already accounted for through existing immigration processes. Failure to comply may result in criminal and civil penalties.

Most non-citizens are already registered, including Green Card holders, I-94 recipients, parolees, individuals in removal proceedings, and EAD holders. However, some remain unregistered, such as undocumented individuals, certain Canadian visitors, and some DACA or TPS applicants.

To comply, DHS will introduce a new registration process launching February 25, 2025. Non-citizens required to register should create a USCIS online account in preparation. Parents or guardians must submit applications for children under 14. Further details will be provided by DHS.

Impact: While registration does not grant immigration benefits or work authorization, failure to comply could result in enforcement actions, which may impact visa processing, future immigration applications, and workforce stability. Employers, in conjunction with legal counsel,  may educate foreign national employees, monitor updates, and provide compliance guidance to mitigate risks.

Immigration Compliance Alert: I-9 Audits Underway

I-9 audits have begun, with reports confirming enforcement activity in the Seattle area, San Diego and other cities. Employers should take immediate steps to ensure compliance and verify that all Form I-9 records are properly completed and retained.

If an employer discovers missing Form I-9s for any employees, it is advisable to complete the missing forms as soon as possible. While late completion does not eliminate liability, it demonstrates a good faith effort to comply with federal requirements.

Impact: Employers should consult with legal counsel or immigration professionals for guidance on best practices and audit response strategies. In addition, global mobility teams should collaborate with HR and compliance teams to review work authorization expirations and re-verification procedures of foreign national employees, ensure proper documentation is on file based on company policies and legal requirements, and proactively address any compliance gaps.

DHS Revokes Work Authorization Extension for Hong Kong DED Beneficiaries

On January 15, 2025, then-President Biden issued a memorandum extending Deferred Enforced Departure (DED) for certain Hong Kong residents from February 5, 2025, to February 5, 2027. The directive also instructed the Department of Homeland Security (DHS) to provide continued work authorization through the same period. However, on February 18, 2025, DHS confirmed that while the DED extension remains in effect through 2027, employment authorization documents (EADs) for Hong Kong DED beneficiaries have not been extended at this time. This decision means that individuals covered by DED may no longer have valid work authorization unless further action is taken.

Impact: Employers should immediately review the work authorization status of Hong Kong DED beneficiaries based on work authorization expiration dates and prepare for potential employment disruptions. Global mobility teams should monitor DHS guidance for possible updates on EAD renewals and explore alternative visa options for affected employees.