U.S. President Donald Trump has proposed replacing the current EB-5 immigrant investor visa program with a new “Gold Card” initiative, allowing wealthy foreign nationals to gain American citizenship through a $5 million investment. Speaking to reporters, Trump explained that the program aims to attract high-net-worth individuals while addressing issues of fraud linked to the EB-5 visa. “We are going to be selling a gold card. It will cost about $5 million, provide green card privileges, and offer a direct route to American citizenship. Wealthy people will now be able to buy this card to enter our country,” he said.
The EB-5 Immigrant Investor Program, launched by Congress in 1990 and managed by the U.S. Citizenship and Immigration Services (USCIS), has allowed foreign investors to secure green cards by investing in U.S. businesses that generate jobs. However, Trump criticized the program, calling it inefficient and rife with fraud. Commerce Secretary Howard Lutnick supported the move, stating, “Rather than continuing with this ridiculous EB-5 program, the president wants to replace it with the Trump Gold Card.”
The proposed Gold Card requires a $5 million investment, grants green card privileges, and provides a direct path to U.S. citizenship. The administration believes this approach will attract substantial foreign capital and benefit the American economy. While detailed information about the program is expected in the coming weeks, Trump noted the possibility of Russian oligarchs qualifying, saying, “Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people.”
This new proposal could significantly reshape U.S. immigration policies for affluent individuals, echoing similar “golden visa” initiatives seen in other countries. As the administration prepares to release full program details, foreign investors are watching closely for further developments.