Trump unveils $5 Million “Gold Card” Visa with Path to citizenship for wealthy investors

President Donald Trump announced on Tuesday his plan to introduce a new “Gold Card” visa, offering a pathway to US citizenship for foreign investors willing to invest $5 million. This initiative is set to replace the existing EB-5 visa program, which has been in place for 35 years.

Speaking from the Oval Office, Trump explained, “These investors will be wealthy, successful, and will contribute significantly to the economy by spending money, paying taxes, and creating jobs. We expect this program to be extremely successful.”

Commerce Secretary Howard Lutnick confirmed that the new “Trump Gold Card” would replace the EB-5 visa within two weeks. Established by Congress in 1990, the EB-5 program grants residency to foreign investors who invest around $1 million in businesses that create at least 10 jobs.

Lutnick noted that the “Gold Card” would increase the investment requirement while addressing fraud issues that have affected the EB-5 program. The new visa, although termed as a “Gold Card,” would be a green card granting permanent residency and a pathway to citizenship.

According to the Department of Homeland Security, about 8,000 people received investor visas in the year ending September 30, 2022. However, the Congressional Research Service reported in 2021 that the EB-5 program had been prone to fraud, including challenges in verifying the legality of investment funds.

The Trump administration believes the revised investment program will attract high-net-worth individuals while boosting economic growth and job creation in the United States.