U.S. ‘Gold Card’ visa: Trump proposes $5 million option to replace EB-5 foreign investor visa

2025-02-28 05:14:00

Abstract: Trump proposed a "Gold Card": $5M investment for US citizenship. It replaces EB-5, granting green card privileges. Details soon, vetting required.

U.S. President Donald Trump proposed a new plan on Tuesday, suggesting replacing the existing EB-5 investment immigration visa program with a "Gold Card." According to the proposal, investors can obtain a path to U.S. citizenship by paying $5 million.

Trump announced the Gold Card plan in the Oval Office, stating that the card would grant holders green card privileges and serve as a pathway to U.S. citizenship. He told reporters, "Rich people will come to our country by buying this card. They will be rich and successful, they will spend a lot of money, pay a lot of taxes, and hire a lot of employees." He added that details about the plan would be released within two weeks.

The current EB-5 program allows foreign investors to obtain a green card by investing in American businesses. According to the U.S. Citizenship and Immigration Services website, the program stipulates that investors, their spouses, and unmarried children under the age of 21 are eligible to apply for lawful permanent residence if they make the necessary investment in a commercial enterprise in the United States and plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers. The program was established by Congress in 1992, and the minimum investment requirement for investors is $1,050,000, or $800,000 in economically distressed areas (i.e., targeted employment areas).

Commenting on Trump's Gold Card proposal, Commerce Secretary Howard Lutnick said that the EB-5 program is a low-cost way to obtain a green card. He added that under the new system, qualified individuals would pay $5 million to the U.S. government. "Of course, they have to be vetted to make sure they are good global citizens before they can come to America," Lutnick said.

When asked if Russian oligarchs would be eligible for the Gold Card, Trump responded, "Yes, possibly. Hey, I know some very good Russian oligarchs."