Trump proposes $5 million ‘gold card’ visa to replace EB-5 investor program

Former President Donald Trump announced on Tuesday his plan to introduce a new investor visa, dubbed the “Gold Card,” offering a path to U.S. citizenship for individuals willing to invest $5 million. This initiative aims to replace the 35-year-old EB-5 visa program.

Speaking from the Oval Office, Trump emphasized the economic benefits of the proposed visa. “They’ll be wealthy and successful, spending a lot of money, paying taxes, and creating jobs. We believe this will be extremely successful,” he stated.

Commerce Secretary Howard Lutnick confirmed that the "Trump Gold Card" would take effect within two weeks, replacing the EB-5 program, which was established by Congress in 1990 to attract foreign investment. Under EB-5, applicants were required to invest approximately $1 million in a business that creates at least 10 jobs.

Lutnick highlighted that the Gold Card visa, which would grant permanent legal residency, is designed to increase investment thresholds while addressing concerns of fraud and financial misrepresentation associated with the EB-5 program.

According to the Department of Homeland Security, around 8,000 investor visas were issued in the 12-month period ending September 30, 2022. However, a 2021 report by the Congressional Research Service flagged the EB-5 program for potential fraud risks, including the verification of legally obtained funds.


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