In a bold move aimed at attracting wealthy investors, former US President Donald Trump announced on Tuesday the launch of a new “Gold Card” program, allowing affluent foreigners the right to live and work in the United States with a clear path to citizenship — for a $5 million fee.
Speaking from the Oval Office, Trump explained, “We’re going to be selling a gold card. You have a green card — this is a gold card. It comes with all the benefits of a green card and a direct route to US citizenship. Wealthy individuals from around the world will have the opportunity to invest in our country by purchasing this card.”
The Gold Card program is expected to roll out in approximately two weeks, with Trump suggesting that millions of these exclusive cards could be sold to high-net-worth individuals globally.
When asked about the eligibility of Russian oligarchs, Trump responded, “Yeah, possibly. I know some Russian oligarchs who are very nice people.”
Replacing the EB-5 Immigrant Investor Visa Program
Commerce Secretary Howard Lutnick, standing alongside Trump during the announcement, confirmed that the Gold Card initiative would replace the current EB-5 immigrant investor visa program. The EB-5 program allows foreign investors to obtain green cards by investing in US projects that generate jobs for American workers.
“Of course, there will be thorough vetting processes,” Lutnick emphasized. “We want to ensure that only world-class global citizens are granted access through this program.”
Background on the EB-5 Program
Established by Congress in 1992, the EB-5 program previously offered green cards to immigrants who invested a minimum of $1,050,000 — or $800,000 in targeted employment areas (economically distressed zones) — provided their investment created jobs for US citizens, according to the United States Citizenship and Immigration Services (USCIS).
The Trump administration sought to reform the EB-5 program during Trump’s first term, raising the minimum investment requirements to $900,000 for targeted areas and $1.8 million for other regions in 2019. However, a federal judge overturned the changes in 2021 due to procedural issues. The program was last updated in 2022 under the Biden administration, setting the current investment thresholds at $1,050,000 and $800,000.
Trump’s new Gold Card proposal marks a significant shift, replacing the investment-based visa program with a direct cash-for-citizenship model, drawing both interest and controversy.
Stay tuned for further updates as the US government prepares to roll out this high-stakes immigration initiative.
