President Trump unveils a $5 million “Gold Card” program offering a premium pathway to American citizenship for wealthy foreign investors, aiming to generate substantial revenue while attracting global talent to U.S. shores.
Quick Takes
- Trump’s administration plans to sell “Gold Cards” for $5 million each, providing enhanced green card privileges and a path to citizenship
- The initiative targets wealthy foreigners and those with exceptional talent, potentially generating $5 trillion if all 1 million cards sell
- The Gold Card program would replace the existing EB-5 visa program, which has faced criticism for fraud and abuse
- Congressional approval would be required for the citizenship pathway component of the program
- Applicants would undergo thorough vetting to ensure they are “wonderful, world-class global citizens”
A Premium Path to American Residency
President Donald Trump has announced plans to launch a new immigration initiative called the “Gold Card” program, which would offer wealthy foreign investors an enhanced version of the traditional green card along with a pathway to American citizenship. The program, set to launch within approximately two weeks, would require applicants to pay $5 million to the U.S. government in exchange for residency privileges. Trump described the initiative as “somewhat like a green card, but at a higher level of sophistication” during his announcement, emphasizing that the program targets individuals with substantial wealth or exceptional talent who could contribute significantly to the American economy.
Commerce Secretary Howard Lutnick confirmed that the Gold Card program would replace the current EB-5 visa program, which has been in place since 1990 and was reauthorized in 2022. The existing EB-5 program requires foreign investors to invest a minimum of $1 million, or $500,000 in certain targeted employment areas, to qualify for permanent residency. Lutnick described the new initiative as a more straightforward and higher-value alternative, stating, “Rather than having this sort of ridiculous EB-5 program, we’re going to end the EB-5 program. We’re going to replace it with the Trump Gold Card, which is really a green card.”
Economic Impact and Revenue Potential
The Trump administration envisions selling approximately one million Gold Cards, which would generate $5 trillion in revenue that could be directed toward reducing the national debt. Trump even suggested that sales could potentially reach up to 10 million cards if demand is strong enough. The program specifically targets wealthy individuals from around the world, including Russian oligarchs and Indian tech entrepreneurs, who seek to establish residency in the United States. The initiative also allows corporations to purchase U.S. residency for highly skilled or educated employees, potentially creating new employment opportunities for Americans.
“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.” – Trump
While the initial investment required for the Gold Card is significantly higher than that of the EB-5 program, Trump administration officials argue that the streamlined process and enhanced benefits justify the premium price. The program is designed to attract individuals who not only bring substantial financial resources but also have the potential to create jobs and stimulate economic growth across various sectors. Trump emphasized that “generally speaking, it will be people with money and people that create jobs” who would be targeted for the program.
Vetting Process and Legislative Requirements
Administration officials have emphasized that applicants for the Gold Card would undergo a thorough vetting process to ensure they meet the program’s standards. Commerce Secretary Lutnick stated that the administration would “make sure they are wonderful, world-class global citizens” before approving their applications. This vetting process aims to address concerns about potential fraud and abuse that have plagued the existing EB-5 program while ensuring that only qualified individuals receive the enhanced residency privileges offered by the Gold Card.
“It’s somewhat like a green card, but at a higher level of sophistication. It’s a road to citizenship for people, and essentially people of wealth or people of great talent.” – Trump
Trump acknowledged that while the administration has determined the program is legally sound for implementing the residency aspects, Congressional approval would be required for the citizenship pathway component. This legislative hurdle means that while Gold Card holders could immediately benefit from residency privileges, the ultimate path to citizenship would depend on future Congressional action. The administration plans to work with lawmakers to secure the necessary legislative changes to fully implement all aspects of the program, potentially making it a centerpiece of Trump’s economic and immigration policy agenda.
Sources
1. Trump floats ‘gold card’ to grant US residency to wealthy foreigners
2. Trump says US will sell $5M ‘gold cards’ to foreigners: ‘Green card privileges-plus’
