Trump Announces $5 Million ‘Gold Card’ Path to Citizenship, Replacing EB-5 Investor Visas. In a bold move to attract wealthy investors and top talent, U.S. President Donald Trump unveiled plans on Tuesday to introduce a “Trump Gold Card” program, offering a path to citizenship for $5 million. The new initiative will replace the 35-year-old EB-5 investor visa program, which has faced criticism for fraud and inefficiencies.
Speaking from the Oval Office, President Trump emphasized the economic benefits of the program. “They’ll be wealthy, they’ll be successful, and they’ll be 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,” he said.
Commerce Secretary Howard Lutnick confirmed that the “Trump Gold Card” will replace EB-5 visas within two weeks. The EB-5 program, established by Congress in 1990, grants visas to foreign investors who spend approximately $1 million on a U.S. business that creates at least 10 jobs. However, Lutnick criticized the program for its vulnerabilities to fraud and inefficiencies, calling the new gold card a more sophisticated and secure alternative.
Key Features of the Trump Gold Card
The gold card, essentially a green card offering permanent legal residency, will provide a direct path to citizenship. Unlike the EB-5 program, it will raise the investment threshold to $5 million, targeting high-net-worth individuals and businesses willing to sponsor talented professionals.
“It’s somewhat like a green card, but at a higher level of sophistication. It’s a road to citizenship for people of wealth or great talent, where companies can pay for individuals to gain long-term status in the country,” Trump explained.
Addressing Fraud and Economic Impact
The EB-5 program has long been scrutinized for risks of fraud, including concerns about the legality of funds used for investments. According to the Congressional Research Service, these issues have persisted for years. Meanwhile, the Department of Homeland Security reported that approximately 8,000 people obtained EB-5 visas in the 12-month period ending September 30, 2022.
Trump suggested that the new gold card program could significantly reduce the federal deficit, joking that the government could sell up to 10 million cards. “It could be great, maybe it will be fantastic,” he said.
Global Context
Investor visa programs are not unique to the United States. Over 100 countries, including the United Kingdom, Spain, Greece, Malta, Australia, Canada, and Italy, offer similar “golden visas” to attract wealthy individuals. Advisory firm Henley and Partners notes that such programs are increasingly popular among high-net-worth individuals seeking global mobility and investment opportunities.
No Congressional Approval Required
While Congress typically determines qualifications for citizenship, Trump stated that the gold card program would not require congressional approval. This has raised questions about the program’s legal framework and potential implications for immigration policy.
Reaction and Next Steps
The announcement has sparked mixed reactions, with supporters praising the potential economic benefits and critics questioning the ethics of monetizing citizenship. As the program prepares to launch in two weeks, stakeholders are closely watching how it will reshape U.S. immigration and investment landscapes.
For now, the Trump Gold Card represents a significant shift in U.S. immigration policy, aiming to attract wealth, talent, and economic growth while addressing the shortcomings of its predecessor.
