Trump Proposes $5 Million “Gold Card” Visa, Replacing EB-5 Investor Program
Washington, D.C. – President Donald Trump announced Tuesday that his administration plans to launch a new investor visa, dubbed the "Trump Gold Card," which would offer a path to U.S. citizenship for wealthy individuals willing to invest $5 million. The move would replace the long-standing EB-5 visa program, a 35-year-old initiative designed to attract foreign investment.
Speaking from the Oval Office, Trump highlighted the economic potential of the new visa, stating, “They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it’s going to be extremely successful.”
A Higher Price for U.S. Residency
Commerce Secretary Howard Lutnick confirmed that the new “Gold Card” program would officially replace the EB-5 visa program within two weeks. The EB-5, which was introduced by Congress in 1990, allowed foreign investors to secure a green card by investing at least $1 million in a U.S. business that created at least 10 jobs.
The Trump administration’s new proposal raises the financial threshold for investors, offering a streamlined pathway to permanent residency for $5 million. According to Lutnick, the higher price point would not only attract elite investorsbut also help eliminate fraud and loopholes that have been associated with the EB-5 program.
“This will be a game-changer,” Lutnick stated. “The EB-5 program has been plagued by fraud, and we’re doing away with that nonsense. The Gold Card is a much cleaner, much more sophisticated solution.”
Unlike the EB-5 visa, Trump’s announcement did not include any specific job creation requirements for investors. It remains unclear whether business development or employment generation will factor into the eligibility criteria for the new program.
A Boon for the U.S. Economy?
Investor visas are a global norm, with over 100 countries offering similar pathways to residency and citizenship. Programs in nations such as the United Kingdom, Spain, Greece, Malta, Australia, Canada, and Italy have successfully drawn significant foreign capital.
According to data from the Department of Homeland Security, approximately 8,000 foreign investors obtained EB-5 visas in the 12-month period ending Sept. 30, 2022. However, concerns over fraud and national security risks have led to increased scrutiny and reforms in recent years.
Trump suggested that the new “Gold Card” program could go beyond existing visa caps, musing that the federal government could sell up to 10 million Gold Cards to reduce the national deficit.
“It’s somewhat like a green card, but at a higher level of sophistication,” Trump explained. “It’s a road to citizenship for people, and essentially people of wealth or people of great talent, where people of wealth pay for those people of talent to get in. Companies will pay for people to get in and to have long, long-term status in the country.”
Will It Require Congressional Approval?
The announcement raises legal and political questions, particularly regarding whether such a program requires congressional approval. U.S. citizenship qualifications are determined by Congress, and any fundamental changes to the visa system typically require legislative action.
However, Trump insisted that his administration could implement the Gold Card program without congressional approval, though details on the legal framework remain unclear.
Political and Economic Reactions
Critics argue that the program favors the wealthy, allowing them to essentially “buy” U.S. citizenship while making no direct guarantees about job creation or economic growth for Americans. Others see it as an opportunity to increase foreign investment and reduce the federal deficit.
While the program is still in its early stages, its potential impact on immigration policy, economic growth, and national security will likely spark heated debate in Washington and beyond.
For now, the Trump administration appears confident that the Gold Card Visa will be a major success—at least among those who can afford it.
### What Happens Next?
With only two weeks before the expected rollout, investors, lawmakers, and immigration experts are closely watching for additional details. Key questions remain about specific eligibility requirements, legal challenges, and potential congressional intervention.
As the nation awaits further announcements, one thing is certain: the Trump Gold Card has already ignited a conversation about the future of U.S. immigration and economic policy.
