President Donald Trump has announced plans to introduce a new initiative aimed at attracting affluent immigrants. During a press briefing on Tuesday, Trump, alongside Commerce Secretary Howard Lutnick, outlined the administration's proposal to offer a "gold card" that would grant legal residency in the United States. This initiative, which comes at a cost of approximately $5 million per applicant, aims to replace the current U.S. visa program for overseas investors, a program that has been steeped in controversy.
President Trump and Secretary Lutnick detailed a plan that would allow corporations to purchase U.S. residency, commonly referred to as a “green card,” for their high-skilled or highly educated employees. This proposal suggests a potential replacement for certain types of work visas. Trump emphasized that the program is designed to provide “green card privileges plus,” serving as a pathway to U.S. citizenship for wealthy individuals.
Despite the unveiling of this concept at a White House event, specifics were lacking. The briefing, which included Secretary of Health and Human Services Robert F. Kennedy, did not mention any required action by Congress. Notably, Congress established the investor visa, known as the EB-5, in 1990 and reauthorized it for another five years in 2022.
Trump highlighted that the focus of this new program would be on attracting individuals with financial means and those capable of creating jobs. Commerce Secretary Lutnick criticized the existing EB-5 program as “ridiculous,” noting that it was originally designed to boost the U.S. economy by granting green cards in return for job-creating investments. The current program mandates a minimum investment of approximately $1 million, or $500,000 in specific rural areas or regions with high unemployment. Recent reauthorization by Congress included additional oversight to tackle ongoing issues of fraud and abuse.
Secretary Lutnick assured that applicants for the new gold card would undergo a comprehensive vetting process. “We are going to make sure they are wonderful, world-class global citizens,” Lutnick stated. Successful applicants will have the opportunity to invest in America and receive a green card directly from the president.
This proposed gold card program reflects the administration's strategy to attract wealthy immigrants who can contribute significantly to the American economy, providing a new pathway to U.S. residency and ultimately citizenship.
