Trump introduces $5M ‘gold card’ visa
President Donald Trump has announced a new immigration initiative that would grant permanent residency and a path to U.S. citizenship to wealthy foreign investors in exchange for a $5 million investment. The proposal, dubbed the “gold card” visa, was introduced during the first cabinet meeting of his current term, where Trump emphasized its potential to attract high-net-worth individuals and stimulate job creation.
The gold card visa is designed to function similarly to a traditional green card, which allows foreign nationals to live and work permanently in the United States. However, the new program specifically targets “high-level people” who can afford the steep price tag. Trump expressed confidence in the demand for such visas, calling them a “bargain” and predicting that they would “sell like crazy.”
Commerce Secretary Howard Lutnick, who was also present at the meeting, provided additional details on the program. He confirmed that the gold visa would replace the existing EB-5 visa program, which has long served as the primary investor-based immigration option in the U.S.
Under the EB-5 program, foreign investors have been able to secure permanent residency by investing approximately $1 million and creating at least 10 full-time jobs. Lutnick criticized the EB-5 system as being “poorly overseen and poorly executed,” asserting that the new gold card visa would provide a superior alternative.
Trump highlighted the economic benefits of the proposed visa, suggesting that the revenue generated from these high-priced residency permits could help reduce the national debt. He also argued that businesses would use the program to recruit highly productive foreign workers who could contribute to the economy. “We have to be able to get people in the country, and we want people that are productive people,” Trump stated.
Similar investment-based residency programs exist in several countries, including Portugal, which offers a “golden visa” to foreigners who invest at least €500,000 (approximately $524,000) into qualifying funds. These programs have gained popularity among high-net-worth individuals seeking global mobility and access to stable economies.
Despite the enthusiasm surrounding the initiative, many details remain unclear. The government has not yet outlined specific eligibility criteria, potential exclusions, or a cap on the number of visas that will be issued annually. It is also uncertain how the program would handle potential concerns related to national security and fraud, issues that have previously plagued the EB-5 program.
In the last fiscal year, the State Department issued over 12,000 EB-5 visas, marking a record high for the program. With the proposed shift to the gold card visa, the administration aims to attract an even higher level of investment while tightening oversight.
As the proposal moves forward, it is expected to face scrutiny from lawmakers and immigration experts who may question its broader implications, including whether it prioritizes wealth over merit-based immigration. However, for affluent individuals looking for a fast-track route to U.S. residency, the gold card visa may soon present a new opportunity.