In a controversial new proposal, U.S. President Donald Trump has unveiled plans to introduce a “gold card” program, offering wealthy immigrants a fast-track route to U.S. citizenship in exchange for a $5 million investment.
The move is set to replace the current EB-5 investor visa program, which requires foreign nationals to invest in U.S. businesses to secure permanent residency.
According to Trump, the gold card will provide the same privileges as a green card but with added benefits, ultimately allowing holders to secure a path to citizenship.
“It’s going to give you green card privileges plus it’s going to be a route to citizenship, and wealthy people would be coming into our country by buying this card,” Trump explained during a statement in the Oval Office.
The president emphasized that the gold card would bring in high-net-worth individuals who would contribute to the U.S. economy through taxes, spending, and job creation.
believes the program will significantly benefit the country and is optimistic about its success, stating that “wealthy and successful people” would be attracted to the opportunity.
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Trump noted that details about the scheme would be released in two weeks.
Under the new plan, the federal government could sell up to 10 million gold cards, with Trump envisioning this as a way to reduce the federal deficit.
The proposal aims to attract investors who would use the gold card as a means to enter the country, fostering a system where companies could also sponsor talented individuals for residency.
Commerce Secretary Howard Lutnick clarified that the gold card would replace the EB-5 visas, which were introduced by Congress in 1990 to promote foreign investment.
The new program, he stated, would raise the price of admission for investors and eliminate the fraud associated with the EB-5 program, offering a more refined and secure pathway to U.S. residency and citizenship.
With about 8,000 people obtaining EB-5 visas in 2022, the gold card could drastically change the landscape for wealthy immigrants seeking to invest in the U.S. and secure permanent residency.
