Former President Donald Trump has proposed a new $5 million ‘Gold Card’ residency program, which would grant U.S. residency to foreign investors. The plan, if implemented, would replace the existing EB-5 visa program, which currently offers green cards to individuals who invest in U.S. businesses and create jobs.
Key Details of the ‘Gold Card’ Proposal
Trump’s proposed ‘Gold Card’ would require a minimum $5 million investment, significantly higher than the current EB-5 visa threshold of $800,000 to $1.05 million. Unlike a traditional green card, which leads to permanent residency and eventual citizenship, it is unclear whether the ‘Gold Card’ would offer a pathway to citizenship or if it would function as a long-term residency permit for high-net-worth investors.
Trump claims this initiative would attract wealthy individuals who can make significant economic contributions, boosting the U.S. economy through investments, business expansion, and job creation.
How It Differs from the Current EB-5 Program
The EB-5 visa program, established in 1990, allows foreign investors to obtain a U.S. green card by investing in job-creating businesses. However, the program has faced criticism over fraud, long processing times, and concerns about whether the investments actually benefit the U.S. economy.
Trump’s ‘Gold Card’ proposal appears to eliminate the job creation requirement, focusing instead on a direct financial contribution. This could make it easier for wealthy individuals to secure U.S. residency while streamlining the process.
Potential Impact and Controversy
The proposal is likely to spark debate among lawmakers and immigration experts. Supporters argue that raising the investment threshold would attract more financially powerful investors and boost real estate, business expansion, and infrastructure development. Critics, however, warn that it could favor the ultra-wealthy while restricting opportunities for middle-class immigrant entrepreneurs.
Additionally, the idea of selling U.S. residency at a premium could face political pushback from those who view it as an unfair shortcut for the rich. Questions also remain about how the funds would be used, whether it would replace other residency pathways, and how it aligns with U.S. immigration priorities.
What’s Next?
If Trump moves forward with the ‘Gold Card’ plan, it would require congressional approval or executive action. As immigration remains a hot-button issue in the U.S., this proposal will likely be closely scrutinized and debated in the coming months.
