U.S. President Donald Trump has announced a new immigration program—the $5 million “Gold Card” residency permit—targeting wealthy foreign investors.
The initiative, which could replace the existing EB-5 visa, is designed to provide a direct pathway to U.S. citizenship. Here’s what you need to know:
1. What Is the ‘Gold Card’ Visa?
Trump’s Gold Card is a premium residency permit aimed at high-net-worth foreigners seeking permanent U.S. residency and, ultimately, citizenship. Unlike traditional green cards, the Gold Card promises additional privileges and an expedited process.
“You have a green card; this is a gold card,” Trump said during the announcement, highlighting its superior benefits.
2. Why Is Trump Replacing the EB-5 Visa?
The EB-5 visa program, established in 1990, grants green cards to foreign investors who invest at least $1 million in a business that creates at least 10 jobs.
However, Commerce Secretary Howard Lutnick criticized the EB-5, calling it a “low-cost loophole” filled with fraud and inefficiencies.
“The EB-5 program… was a way to get a green card at a low price, and it was full of make-believe and fraud,” Lutnick stated.
3. Who Qualifies for the ‘Gold Card’ Visa?
Trump has emphasized that applicants must have substantial financial resources, though he has not imposed specific job-creation requirements.
Applicants will undergo strict vetting, ensuring they are “world-class global citizens.”
When asked whether Russian oligarchs would be eligible, Trump replied:
“Possibly. I know some Russian oligarchs who are very nice people.”
Unlike the EB-5 program, which caps visas at 10,000 per year, Trump suggested that the Gold Card may have no limit—even proposing to sell 10 million visas to reduce the national deficit.
4. Cost and Benefits of the ‘Gold Card’ Visa
The price tag for this exclusive visa is $5 million per applicant.
While specific details are yet to be finalized, the program is expected to offer a faster route to citizenship compared to traditional green cards, which typically require five years of permanent residency before naturalization eligibility.
5. How Does This Compare to Other Countries?
Many nations offer investment-based residency or citizenship programs, often called “golden visas.”
- European Union nations, including Spain, Greece, and the UK, have implemented golden visa programs.
- Malta, Egypt, and Jordan offer direct citizenship through investment.
- Several Caribbean nations, such as Dominica, Grenada, and St. Kitts & Nevis, provide “golden passports” for as little as $200,000–$300,000.
However, concerns over money laundering and real estate inflation have led countries like the UK to tighten regulations or phase out their golden visa programs.
Will Trump’s Plan Face Legal Challenges?
Trump insists that he does not need Congressional approval to implement the program. However, legal experts anticipate significant scrutiny over its economic impact and feasibility.
As details emerge, debate will continue over whether the Gold Card represents an innovative economic strategy or a controversial shortcut for the wealthy.
