President Trump has unveiled a $5 million “Gold Card” visa program aimed at wealthy global investors, replacing the current EB-5 investor visa with a more expensive but streamlined path to American citizenship.
Key Takeaways
- Trump’s proposed “Gold Card” visa would cost $5 million, significantly higher than the current EB-5 program, targeting high-net-worth individuals worldwide.
- The program aims to attract wealthy investors who will contribute to the U.S. economy through spending, taxes, and job creation.
- Commerce Secretary Howard Lutnick claims the new program will replace the “fraudulent” EB-5 visa program within two weeks.
- Critics warn about potential security risks, citing examples of similar programs in other countries that were discontinued due to criminal exploitation.
- Implementation would likely require congressional approval despite Trump’s claims to the contrary.
A Premium Path to American Citizenship
The Trump administration has announced plans to introduce a “Gold Card” visa program with a $5 million price tag, targeting wealthy foreign investors seeking a path to U.S. citizenship. This initiative would replace the existing EB-5 investor visa program, which has been in place since 1990. According to President Trump, the new program will attract affluent individuals who can make substantial contributions to the American economy.
“We are going to be selling a gold card. We are going to be putting a price on that card of about $5 million. It’s going to give you green card privileges, plus it’s going to be a route to (American) citizenship, and wealthy people would be coming into our country by buying this card,” stated President Trump.
Commerce Secretary Howard Lutnick has been vocal about the administration’s intent to implement this change rapidly, claiming the transition will occur within two weeks. The Gold Card would essentially function as an enhanced green card, providing a more straightforward route to citizenship for those with significant financial resources.
Economic Benefits and Target Demographics
The administration emphasizes that the Gold Card program is designed to stimulate economic growth by attracting individuals who can invest substantially in the United States. Trump has suggested that these visa holders would benefit the economy through their spending habits, tax contributions, and potential for creating employment opportunities for American workers.
“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,” Trump said in the Oval Office.
Historically, similar programs worldwide have drawn significant interest from investors in China, the Middle East, and Russia. The Trump administration appears to be targeting these same demographics, with Trump confirming that Russian oligarchs could potentially qualify for the program, raising concerns about proper vetting procedures.
Trump to introduce 'gold card' visa for wealthy investors with $5 million price tag: 'Route to citizenship' https://t.co/xa3KD7xriC
— FOX Business (@FoxBusiness) February 26, 2025
Potential Risks and Criticisms
Golden visa programs have faced scrutiny in other countries due to their potential for abuse. The United Kingdom and Cyprus have both revoked similar programs after discovering they were being exploited by individuals with questionable backgrounds. Critics warn that without proper oversight, such programs can become avenues for money laundering and other illicit activities.
However, some experts believe that the United States may be less vulnerable to these issues due to its size and existing immigration infrastructure. Dr. Kristin Surak from the London School of Economics suggests that any problems associated with the Gold Card program would likely have minimal impact on the overall U.S. immigration system.
Implementation Challenges
Despite Trump’s assertion that the Gold Card program could be implemented without congressional approval, legal experts point out that creating new visa categories traditionally falls under congressional authority. This discrepancy raises questions about the administration’s ability to enact the program within the two-week timeframe suggested by Secretary Lutnick.
The current EB-5 program requires investors to put at least $800,000 into a U.S. commercial enterprise and create or preserve 10 full-time jobs for American workers. The new Gold Card would significantly increase the investment requirement while potentially modifying or eliminating these job creation requirements, although specific details remain unclear.
Global Context and Precedent
More than 100 countries worldwide have implemented some form of investor visa program, with varying degrees of success and scrutiny. These programs can significantly impact a nation’s GDP by attracting foreign capital, but they also face criticism from organizations like Transparency International, which has called for stricter regulation or outright bans due to the potential for abuse.
The $5 million price point for the Gold Card has surprised some experts in the field. According to Dr. Surak, “Even if the price were to be increased to $50 million, there would still be people lining up for it.”
This indicates that there may be substantial demand for such a program despite the high cost, potentially generating significant revenue for the United States if implemented. Trump has even suggested the possibility of selling 10 million Gold Cards as a means of reducing the national deficit, though experts question the feasibility of such ambitious numbers.
