US President Donald Trump has introduced a new immigration initiative called the ‘Gold Card,’ which offers wealthy foreign investors a direct path to American citizenship for a payment of $5 million.
Announcing the initiative from the Oval Office on Tuesday, Trump described it as a “premium alternative” to the traditional Green Card, aiming to attract high-net-worth individuals to the United States.
“We are going to sell a Gold Card,” Trump stated. “The price will be around $5 million.” He explained that this new initiative would replace the EB-5 Immigrant Investor Visa Program, which currently grants Green Cards to foreign investors who invest a minimum of $800,000 in designated employment areas or $1.8 million elsewhere, provided they create at least ten US jobs.
Criticizing the EB-5 program as outdated and ineffective, Trump proposed a direct-payment model where investors would contribute funds directly to the US government.
Commerce Secretary Howard Lutnick, who attended the announcement, reinforced this stance. “Instead of the inefficient EB-5 program, we’re introducing the Trump Gold Card,” he said.
A Revenue-Driven Strategy?
Unlike the EB-5 visa, the Gold Card does not appear to include a job-creation requirement. Instead, the focus is on generating direct revenue for the federal government. Trump suggested that selling up to ten million Gold Cards could raise trillions of dollars to reduce the national deficit.
“It could be fantastic,” he remarked, though he did not specify how many cards would be issued annually or how the revenue would be utilized.
When questioned about whether Russian oligarchs would be eligible to apply, Trump responded, “Yeah, possibly. Hey, I know some Russian oligarchs who are very nice people.” His comments have sparked concerns about potential misuse of the program by foreign elites seeking a fast-tracked route to US citizenship.
Application Process for the Gold Card
While further details are expected within two weeks, initial information suggests a streamlined application process. Applicants will likely need to submit:
- Proof of $5 million in available funds
- A formal application to US Citizenship and Immigration Services (USCIS)
- Background checks, including security and financial screenings
If approved, Gold Card holders would receive long-term residency benefits similar to those of a Green Card, along with an expedited path to citizenship. However, the exact timeline for naturalization remains unclear.
Despite Trump’s assurance that the program can be implemented quickly, legal experts note that new visa programs typically require Congressional approval. It remains uncertain whether the administration can bypass legislative hurdles, given the legal challenges that have hindered previous immigration reforms.
Criticism and Possible Implications
The Gold Card proposal has faced strong opposition from immigration experts and lawmakers. Critics argue that it prioritizes wealth over merit, creating an exclusive pathway to citizenship for the ultra-rich.
“This is a blatant attempt to monetize American residency,” said Senator Elizabeth Warren. “It undermines the fundamental idea that US immigration should be based on contribution to society, not just financial capability.”
Immigration advocates warn that the initiative could exacerbate inequality within the US immigration system.
However, supporters believe the program could stimulate economic growth by attracting wealthy investors who contribute through taxes and business ventures. Some suggest that corporations may use the scheme to sponsor skilled employees, expanding its scope beyond ultra-wealthy individuals.
What’s Next?
Further details on the Gold Card are expected by March 11, 2025. Key questions remain, including whether the Trump administration can implement the program without Congressional approval and how it may reshape US immigration policies.
For now, the initiative signals another bold shift in Trump’s approach to immigration—placing economic benefit at the forefront while sidelining traditional residency pathways. As debates continue, the outcome of the Gold Card initiative could have lasting implications for the future of US immigration policy.
