On Tuesday, February 25th, President Donald Trump announced a new immigration initiative featuring a $5 million “gold card” visa to attract wealthy foreign nationals seeking U.S. residency. This new visa will replace the existing EB-5 investor visa.
Unlike the current EB-5 visa, which requires a $1 million investment, the gold card demands a much higher investment. In return, it provides a streamlined pathway to permanent residency and citizenship, allowing holders to live and work in the United States.
Commerce Secretary Howard Lutnick revealed that the “gold card” will become available within the next two weeks. He also noted that the initiative was designed to address concerns over fraud and inefficiencies within the EB-5 program, which has faced criticism for potential misuse of funds.
Trump’s administration expects the new visa program to attract wealthy individuals who contribute to the U.S. economy through investment, job creation, and tax payments. “It’s going to be a route to citizenship, and wealthy people will be coming into our country by buying this card, 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,” President Trump stated.
The new visa could generate billions of dollars for the United States, with Trump suggesting that the government could sell millions of these gold cards, helping reduce the national debt.
While more than 100 countries offer investor visa programs, Trump emphasized that the gold card would not need Congressional approval, as it falls within existing legal frameworks for immigration.
As the initiative moves forward, it remains uncertain how lawmakers will respond and how it will impact the overall U.S. immigration landscape.
