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President Donald Trump announced on Tuesday plans to introduce a “gold card” visa program, offering a pathway to U.S. citizenship for a $5 million investment.
This new initiative will replace the existing EB-5 visa program, which has been in place for over three decades.
Speaking from the Oval Office, Trump stated,
We’re going to be selling a gold card. You have a green card. This is a gold card
We’re going to be putting a price on that card of about $5 million, and that’s going to give you green card privileges, plus it’s going to be a route to citizenship.
Wealthy people will be coming into our country by buying this card.
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The program is set to launch in approximately two weeks, with the potential for millions of such visas to be issued. Trump emphasised the economic benefits, noting,
They’ll be wealthy and successful, spending a lot of money, paying a lot of taxes, and employing a lot of people. We think it’s going to be extremely successful.
Who qualifies for the Gold Card Visa?
The “Trump Gold Card” visa is designed for high-net-worth individuals seeking to invest in the U.S. economy. While specific eligibility criteria are yet to be fully outlined, the program is expected to target:
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Wealthy Investors: Individuals capable of making a minimum investment of $5 million in U.S. businesses or projects.
Entrepreneurs: Business owners looking to establish or expand operations in the U.S., creating jobs for American workers.
Global Professionals: High-earning professionals, such as executives, innovators, and industry leaders, who can contribute to the U.S. economy through their expertise and investments.
Retirees with Significant Assets: Individuals with substantial personal wealth who wish to relocate to the U.S. and contribute to the economy through spending and investments.
Commerce Secretary Howard Lutnick confirmed that the “Trump Gold Card” will replace the EB-5 visa program, which Congress established in 1990 to attract foreign investment.
The EB-5 program grants green cards to immigrants who invest a minimum of $1,050,000 (or $800,000 in economically distressed areas) in businesses that create at least 10 jobs for American workers, according to the U.S. Citizenship and Immigration Services (USCIS).
The EB-5 program has faced bipartisan criticism in recent years, with lawmakers arguing that it has strayed from its original objectives and requires reform.
During Trump’s first term, his administration attempted to raise the minimum investment thresholds to $900,000 for targeted economic areas and $1.8 million for other locations.
However, a federal judge overturned the changes in 2021, citing procedural issues with the appointment of the acting Homeland Security secretary who authorised the rule.
The program was last renewed in 2022 under the Biden administration, with the current investment requirements remaining in place.
Notably, businesses connected to Trump and his family have utilised the EB-5 program to fund major property developments.
The new “gold card” initiative aims to streamline the process for wealthy investors while generating significant economic benefits for the U.S.
However, it remains to be seen how the program will be implemented and whether it will address the criticisms levelled at its predecessor.