In a recent announcement, U.S. President Donald Trump unveiled a plan to replace the current EB-5 Immigrant Investor Visa program with a new ‘gold card’ option, allowing foreign investors a route to American citizenship for $5 million.
President Trump has introduced the concept of a ‘gold card’ as a potential pathway to U.S. citizenship, replacing the existing EB-5 Immigrant Investor Visa program. This initiative, costing $5 million, is aimed at attracting wealthy foreign investors to the United States by offering them green card privileges and a direct path to citizenship.
According to Trump, this new program seeks to eliminate the problems associated with the EB-5 visa system, which has faced criticism for fraudulence and inefficiency. The EB-5 program was initially established to boost the U.S. economy through job creation and capital investment by foreign nationals. However, it has been scrutinized for its loopholes and the relatively low cost of acquiring green cards.
Trump indicated that details of the ‘gold card’ scheme would be disclosed in the coming weeks. The initiative is expected to redefine investment-related immigration to the United States, providing a more exclusive option for potential investors.
When questioned about the eligibility of Russian oligarchs for the ‘gold card,’ Trump acknowledged the possibility, affirming that personal relationships with wealthy individuals from Russia could qualify them for this new route to citizenship, albeit without specifics on the mechanism.
Commerce Secretary Howard Lutnick backed the President’s plan, labeling the EB-5 program as “nonsense” ridden with fictitious claims and inadequate pricing for green cards. Lutnick emphasized the administration’s commitment to overhauling the system through the proposed gold card, aiming to attract genuine investment into the country.
The $5 million ‘gold card’ proposal represents a significant shift in how the U.S. government plans to handle investment-driven immigration. As further details emerge, the impact of this change on the economy and immigration patterns will be closely monitored.
