President Donald Trump has announced plans to introduce a “gold card” visa program, offering a path to U.S. citizenship for $5 million. The new initiative would replace the EB-5 investor visa program, which has been in place since 1990.
Speaking Tuesday in the Oval Office, Trump emphasized the benefits of the proposed visa, stating that recipients would be “wealthy and successful,” contributing significantly to the economy through spending, taxation, and job creation.
Commerce Secretary Howard Lutnick confirmed that the Trump Gold Card would replace the EB-5 visa within two weeks. The EB-5 program allows foreign investors to obtain legal residency by investing approximately $1 million in a U.S. business that creates at least 10 jobs. Lutnick argued that the new program would eliminate fraud concerns associated with the EB-5 system while increasing investment requirements. The gold card would function as a green card, granting permanent residency and a pathway to citizenship.
According to the Department of Homeland Security, nearly 8,000 people were granted investor visas in the fiscal year ending Sept. 30, 2022. A 2021 Congressional Research Service report cited concerns over fraud in the EB-5 program, including challenges in verifying the legal sources of investment funds.
Investor visa programs are widely used globally, with more than 100 countries—including the United States, United Kingdom, Spain, Greece, Malta, Australia, Canada, and Italy—offering “golden visas” to affluent individuals, according to advisory firm Henley & Partners.
Trump did not specify whether the new program would include job creation requirements. While the EB-5 visa program is capped, he suggested the federal government could issue up to 10 million “gold cards” to help reduce the national deficit, calling the proposal “potentially fantastic.”
Describing the initiative, Trump said the gold card would be “somewhat like a green card, but at a higher level of sophistication,” designed for wealthy individuals or those with exceptional talent. He suggested that companies could sponsor talented individuals through the program.
Although Congress determines citizenship qualifications, Trump stated that the gold card program would not require congressional approval.
