Washington, D.C. – President Donald Trump has unveiled a new visa program aimed at wealthy investors, offering a path to U.S. citizenship for a $5 million investment. Dubbed the “Gold Card” program, this initiative is set to replace the existing EB-5 Immigrant Investor Visa program, which has been in place since 1990.

Key Features of the Gold Card Program

1. Investment Requirement: Applicants must invest $5 million to qualify for the Gold Card. This is a significant increase from the EB-5 program, which required investments ranging from $800,000 to $1 million, along with additional fees.
2. Path to Citizenship: The Gold Card will provide a route to U.S. citizenship, similar to the EB-5 visa. However, the new program is positioned as a more exclusive and expensive option, targeting high-net-worth individuals.
3. Job Creation: While the EB-5 program mandated the creation of at least 10 full-time jobs for U.S. workers, the specific job creation requirements for the Gold Card program have not yet been detailed.
4. Vetting Process: Applicants will undergo a vetting process to ensure they meet the requirements set by the U.S. Citizenship and Immigration Services (USCIS). The program aims to attract “wonderful, world-class global citizens” who can contribute significantly to the U.S. economy.

Replacement of the EB-5 Program

The EB-5 program, which offered permanent residency to investors who created jobs and invested in U.S. businesses, has been criticized for being “low-priced” and fraught with issues such as fraud and misuse. Commerce Secretary Howard Lutnick has described the EB-5 as a “ridiculous” program that needed to be replaced.

The Gold Card program is expected to address these issues by setting a higher investment threshold and potentially directing funds straight to the U.S. government, which could help reduce the national deficit.

President Trump has indicated that the Gold Card program will be operational within two weeks. However, the creation of new visa categories typically requires congressional approval. The administration has not clarified whether it will seek legislative support or implement the program through executive action.

Immigration attorneys and corporate law experts have expressed interest in the new program, noting that it could level the playing field for attracting successful entrepreneurs and their families to the U.S. However, the high investment threshold has raised questions about accessibility and the potential impact on the diversity of the investor pool.

The Gold Card program reflects Trump’s broader stance on legal immigration, emphasizing work-based visas that bring money and jobs into the country. This announcement comes as other immigration routes, particularly for those from Central and South America, are being curtailed.

The introduction of the Gold Card program marks a significant shift in U.S. investor visa policies, aiming to attract high-net-worth individuals with a substantial investment requirement. As details unfold, the program’s success will depend on its ability to navigate regulatory hurdles and deliver on its promise of economic benefits and job creation.

For more information, stay tuned for updates from the U.S. Citizenship and Immigration Services and the Department of Commerce.