Trump Proposes ‘Gold Card’ Visa Program For Wealthy Investors

On Tuesday, US President Donald Trump unveiled a new proposal that would offer a “gold card” visa for wealthy investors, replacing the long-standing EB-5 investor visa program.

The “Trump Gold Card,” as it’s called, would be available for a price of $5 million, providing a path to U.S. citizenship in exchange for substantial investment.

Speaking from the Oval Office, Trump emphasized that the new visa program would attract successful and wealthy individuals who would not only invest heavily in the U.S. economy but also pay taxes and create jobs. He suggested that the program would boost the economy, benefiting both businesses and 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,” he said.

Is EB-5 Program Inefficient?

Commerce Secretary Howard Lutnick elaborated on the proposal, stating that the Trump Gold Card would replace the existing EB-5 visa, which has been in place for 35 years.

The EB-5 program was created by Congress in 1990 to encourage foreign investment by offering green cards to those who invest at least $1 million in U.S. businesses that employ 10 or more people. However, Lutnick argued that the EB-5 program has been plagued with fraud and inefficiency, a problem the new gold card visa aims to solve.

The gold card visa would also require a higher investment threshold, raising the price of entry for investors. Like the EB-5 visa, it would offer permanent legal residency and include a pathway to citizenship.

Trump Eyes The Wealthy

While Trump did not provide specifics on how job creation requirements would be handled under the new program, he did suggest that it could have significant economic benefits, including reducing the national deficit. In fact, Trump speculated that the federal government could potentially sell up to 10 million gold cards to raise substantial revenue.

The gold card would be marketed to individuals with wealth and talent, with companies able to sponsor applicants for the program. This, Trump explained, would allow businesses to bring in skilled talent while securing long-term residency status for investors and their families. He noted that, unlike the EB-5 program, the gold card would not require congressional approval to be implemented, further streamlining the process.

Globally, investor visas are common, with over 100 countries offering similar programs, including the U.S., the U.K., Spain, Greece, Australia, and Canada, as per data.

Trump’s proposal, if enacted, would reshape the landscape of investor immigration, offering a more expensive but streamlined alternative to the current system.

As of 2022, about 8,000 people were granted EB-5 visas, but concerns over fraud and the program’s effectiveness have led to calls for reform. The Trump Gold Card, if successful, could signal a new chapter in U.S. immigration policy for high-net-worth individuals.