Former U.S. President Donald Trump has unveiled plans for a new $5 million “Gold Card” visa, targeting wealthy investors from countries like Nigeria, China, Russia, and the UAE. This high-priced residency program would replace the EB-5 visa and offer an expedited path to U.S. citizenship.
While Trump promotes the initiative as a strategy to boost the U.S. economy, critics argue it reinforces a “pay-to-play” immigration system, benefiting only the global elite while sidelining skilled workers and struggling migrants.
What Is the ‘Gold Card’ Visa?
The Gold Card visa is designed to grant permanent residency and a fast-tracked path to U.S. citizenship for high-net-worth individuals willing to invest at least $5 million. Trump describes it as “better than a Green Card”, offering additional privileges and a more streamlined immigration process.
Why Replace the EB-5 Visa?
The EB-5 visa program, launched in 1990, allowed foreign investors to obtain Green Cards by investing at least $1 million in U.S. businesses that create 10+ jobs. However, Trump’s Commerce Secretary, Howard Lutnick, criticized the EB-5 program as being plagued with “fraud and loopholes”, justifying its termination.
Who Can Apply for the ‘Gold Card’ Visa?
Trump has not outlined specific job creation requirements for applicants, only emphasizing that they must be “world-class global citizens.” He suggested there may be no cap on the number of visas issued, even proposing that selling 10 million visas could help reduce the U.S. national deficit.
When asked whether Russian oligarchs could qualify, Trump responded, “Possibly. I know some Russian oligarchs who are very nice people.”
Cost & Benefits of the ‘Gold Card’ Visa
- $5 million investment requirement per applicant.
- No strict job creation rules (unlike the EB-5).
- Faster pathway to citizenship than the standard five-year Green Card route.
How Does This Compare to Other Countries?
Several nations offer investment-based residency programs, commonly known as “Golden Visas”:
- European Union: Spain, Greece, and the UK have implemented similar initiatives, though some countries have begun restricting them due to money laundering concerns.
- Caribbean Nations: Countries like St. Kitts & Nevis, Dominica, and Grenada offer citizenship for $200,000–$300,000.
Will the Gold Card Visa Become Law?
The proposal is expected to face legal and political challenges, as critics question whether Trump can implement such a major immigration reform without Congressional approval—something he insists is not required.
While the Gold Card visa aims to attract wealthy investors, it also highlights a sharper divide in U.S. immigration policy, where financial power may determine who gains access to American residency.
