In a significant shift in U.S. immigration policy, President Donald Trump announced on Tuesday the introduction of a “Gold Card” visa. Priced at $5 million, this visa offers wealthy foreign nationals a streamlined route to permanent residency and eventual citizenship. The initiative aims to attract affluent investors to bolster the American economy. “We’re going to be putting a price on that card of about $5 million,” President Trump stated during an Oval Office briefing. “It’s going to give you green card privileges, plus it’s going to be a route to citizenship.”
President Donald Trump said he is starting a program to offer residency and a path to citizenship to investors who pay $5 million.
— Bloomberg (@business) February 25, 2025
The US leader said the program, dubbed the “gold card,” would launch in two weeks https://t.co/53AXI2hNhl pic.twitter.com/UkmJzEDAuo
Replacing the EB-5 Visa with the ‘Gold Card’
This new program is set to replace the existing EB-5 Immigrant Investor Program, which required foreign investors to commit a minimum of $1.05 million—or $800,000 in targeted employment areas—and create or preserve ten full-time jobs for U.S. workers.
Commerce Secretary Howard Lutnick criticised the EB-5 program, describing it as “full of nonsense, make-believe, and fraud.” He further noted, “It was a way to get a green card that was low priced.”
Unlike the EB-5 visa, the “Gold Card” eliminates the job creation requirement, focusing solely on the financial investment. Applicants will still undergo a vetting process to ensure they are “wonderful world-class global citizens,”according to Secretary Lutnick.
Happening Now—Executive Orders being signed by POTUS Trump with @SecKennedy and @HowardLutnick… pic.twitter.com/cwW7DAFI27
— Dan Scavino (@Scavino47) February 25, 2025
A path for millionaires or a loophole for oligarchs?
The administration anticipates that the program will attract high-net-worth individuals who will contribute significantly to the U.S. economy through spending, taxation, and investment. President Trump expressed optimism about the program’s potential economic impact, suggesting that it could generate billions in revenue. “We’ll be able to sell maybe a million of these cards, maybe more than that,” he projected. “If you add up the numbers, they’re pretty good.”
While supporters of the initiative argue that it will stimulate economic growth, critics question the ethical implications of allowing wealth to determine access to citizenship.
REPORTER: Would a Russian oligarch be eligible for a gold card?
— Aaron Rupar (@atrupar) February 25, 2025
TRUMP: Yeah, possibly. Hey. I know some Russian oligarchs that are very nice people. pic.twitter.com/alaafj3isH
Concerns have also been raised about security and vetting processes, as well as the possibility of foreign elites—including controversial figures—using the system to gain U.S. residency. When asked about whether Russian oligarchs would be eligible, President Trump acknowledged, “Yeah, possibly. I know some Russian oligarchs that are very nice people.”
Rollout expected in coming weeks
The administration plans to roll out the “Gold Card” program within the next two weeks, with detailed guidelines and application procedures to be released imminently. As this policy unfolds, it is set to reshape U.S. immigration by prioritising financial investment as a key criterion for residency and citizenship.
This development comes amidst broader discussions on immigration reform and economic strategy, reflecting the administration’s focus on leveraging private wealth to address national fiscal challenges. The long-term effects of this policy shift remain to be seen as it integrates into the existing immigration framework.
