President Donald Trump has announced plans for a new “Gold Card” visa, a $5 million investment-based pathway to U.S. citizenship. The initiative is expected to replace the long-standing EB-5 investor visa program, which Trump and his administration criticize for being poorly managed.
During a Cabinet meeting, Trump expressed confidence in the program’s success, stating, “I believe it will sell like crazy. There’s a market for it.” He further suggested that revenue from the initiative could help reduce the national debt. “If we sell a million, that’s $5 trillion,” he said, emphasizing strong potential demand from business leaders and investors.
A Shift from the EB-5 Visa Program
Commerce Secretary Howard Lutnick explained that the Gold Card visa would replace the EB-5 program, which previously granted visas to foreign investors who committed at least $1 million to businesses creating ten or more jobs. Lutnick criticized the existing program, stating it suffered from poor oversight and execution.
Unlike the EB-5, Trump’s Gold Card initiative includes a direct pathway to U.S. citizenship. He highlighted the program’s appeal to high-net-worth individuals and successful business leaders who, in turn, would boost the U.S. economy through spending, taxation, and job creation.
A Global Trend in Investment-Based Immigration
Many countries, including the U.K., Canada, Spain, and Australia, offer similar “golden visa” programs. Trump argued that the U.S. version would be unique, asserting, “No other country can do this because everyone wants to come here.”
Henley & Partners, a global advisory firm, reports that over 100 nations already provide such programs for wealthy investors. Trump’s plan would also allow companies to acquire Gold Cards to sponsor foreign talent, streamlining hiring processes.
Potential Impact and Future Plans
Lutnick suggested that the Gold Card visa would function similarly to a green card but with more exclusivity. It would also raise the financial threshold for investor entry while addressing concerns about fraud linked to the EB-5 program.
The Homeland Security Department recorded approximately 8,000 investor visas issued in the fiscal year ending September 30, 2022. However, the Congressional Research Service noted risks associated with verifying the legality of investor funds under the EB-5 system.
Trump did not specify whether job creation requirements would be included in the new program. However, he floated the possibility of selling up to 10 million Gold Cards to further reduce the national deficit, calling the plan “potentially fantastic.”
“It’s like a green card but on a more sophisticated level,” Trump explained. “It offers a citizenship pathway for the wealthy and talented—where those with resources can support exceptional individuals in gaining long-term U.S. residency.”
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