On February 25, 2025, President Donald Trump announced a new immigration initiative, the “gold card,” designed to grant wealthy foreigners residency in the U.S. for a $5 million investment. This card would offer benefits similar to a green card, such as the right to live, work, and travel in the U.S., with the possibility of applying for citizenship. The gold card is set to replace the EB-5 visa program, which has faced criticism for fraud and inefficiency.
The program aims to attract foreign capital, with Trump suggesting it could raise significant funds. Applicants would need to meet financial criteria and undergo vetting, although significant details about the process are unclear. While investor visas are common worldwide, this plan is unique due to its high price point and its intended role in funding U.S. debt reduction. Trump emphasized that the gold card would not require congressional approval, as it operates under existing legal frameworks for immigration. The program is expected to begin in about two weeks and would allow foreign nationals to gain U.S. residency.
Reference:
Picchi, Aimee. “Here’s what to know about Trump’s $5 million immigration “gold card”” CBS News. February 26, 2025.
