U.S. President Donald Trump recently announced the “Gold Card” visa program, a new immigration initiative targeting wealthy foreign investors. This program replaces the existing EB-5 Immigrant Investor Visa and provides a direct pathway to U.S. citizenship for an investment of $5 million.
“We’re selling a Gold Card,” Trump declared from the Oval Office. “You have a Green Card, but this is a Gold Card. We’re pricing it at $5 million, and it will grant permanent residency and serve as a fast track to citizenship. Wealthy individuals will be able to purchase this card and move to the U.S.”
Trump indicated that sales of these cards will begin within two weeks, suggesting that millions could be sold. Commerce Secretary Howard Lutnick, who was present at the announcement, confirmed that the Gold Card would replace the EB-5 visa program, which has long been under scrutiny for potential misuse and fraud.
How Does the Gold Card Compare to the EB-5 Visa?
The EB-5 visa program, established by Congress in 1992, allowed foreign investors to apply for U.S. residency by investing in job-creating projects. The program required a minimum investment of $1.05 million or $800,000 in economically distressed areas. The U.S. Citizenship and Immigration Services (USCIS) oversaw the process.
During Trump’s first term, both Democratic and Republican lawmakers criticized the EB-5 program, citing concerns that it had deviated from its original intent and required urgent reforms. In 2019, the Trump administration attempted to raise the minimum investment to $900,000 for targeted areas and $1.8 million for others, but this increase was overturned in 2021 due to a legal technicality. Under President Biden’s administration, the program was reinstated in 2022, with updated investment requirements.
What Does the Gold Card Offer?
- Costs $5 million
- Grants permanent residency (similar to a Green Card)
- Provides a fast-track to U.S. citizenship
- Designed to attract high-net-worth individuals
- Replaces the EB-5 visa program
Unlike the EB-5 visa, which required investment in job-creating projects, the Gold Card appears to be a straightforward residency-for-investment scheme. This new initiative is part of a broader effort to generate revenue for the U.S. and reduce the budget deficit.
Potential Global Impact
The Gold Card program follows similar “Golden Visa” schemes in over 100 countries, including Dubai and several European nations, which use residency-by-investment programs to attract wealthy foreigners.
While economic analysts predict that the program will primarily attract investors from China, Russia, the Middle East, and Latin America, some experts caution that the $5 million price tag may deter even affluent investors.
Further details of the Gold Card visa program are expected to be released within the next two weeks, with the official launch shortly thereafter.