President Donald Trump has unveiled a new immigration initiative aimed at attracting affluent foreign nationals by offering a $5 million GOLD CARD that provides permanent U.S. residency and a pathway to citizenship.
This program is set to replace the existing EB-5 Immigrant Investor Program, which has faced criticism for its susceptibility to fraud and lower investment thresholds.
Speaking from the Oval Office, President Trump described the gold card as an enhanced version of the traditional green card, stating, “We’re going to be putting a price on that card of about $5 million… and wealthy people will be coming into our country by buying this card.”
Commerce Secretary Howard Lutnick emphasized the program’s intent to attract “world-class global citizens” and criticized the EB-5 program for being “full of nonsense, make believe and fraud.” The gold card initiative aims to streamline the process for wealthy individuals to obtain U.S. residency without the job creation requirements mandated by the EB-5 program.
The administration anticipates launching the gold card program within the next two weeks, with the goal of generating significant revenue and reducing the national debt through the influx of affluent residents. President Trump noted the potential appeal to a diverse group of wealthy individuals, including tech entrepreneurs and top graduates from prestigious institutions.
While the proposal has garnered attention for its potential economic benefits, it has also raised questions regarding the ethics of monetizing U.S. residency and the implications for the nation’s immigration policies.