For an astounding $5 million, President Donald Trump has announced the start of a new “Gold Card” visa program that will grant permanent U.S. residency and a straight route to citizenship.
Trump referred to the initiative as a “game-changer for America’s economy” while he was in the Oval Office on Tuesday, with Commerce Secretary Howard Lutnick at his side. In order to attract high-net-worth individuals who are prepared to invest directly in the U.S. government in exchange for residency privileges, the project seeks to replace the current EB-5 investment visa.
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“Wealthy people will be coming into our country by buying this card. They’ll be successful, they’ll be paying a lot of taxes, and employing a lot of people,” Trump said confidently.
Who Would Use a $5 Million Route to US Citizenship?
Known as a “green card plus,” the Gold Card provides a quicker route to U.S. citizenship for those who can afford the exorbitant cost. The Gold Card will entail a $5 million payment to the U.S. Treasury, in contrast to the EB-5 visa, which required investors to invest $1 million in companies that created jobs.
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Howard Lutnick, the secretary of commerce, defended the high cost by saying:
“This will eliminate the fraud and nonsense of the EB-5 program. The Gold Card is clean, direct, and benefits the U.S. economy.”
Although numerous countries offer comparable “Golden Visa” systems, such as Canada, Australia, the United Kingdom, and Malta, the United States has historically upheld stringent residency requirements. This extremely limited residency-for-cash program represents a significant change in U.S. immigration policy.
According to Trump, if just 10,000 Gold Cards were sold, the revenue would be an incredible $50 billion, which would help shrink the national deficit.
“This could be huge—maybe fantastic! We sell a million of these, and America wins,” he added.
The critics contend that it commercializes U.S. residency and welcomes affluent elites and potentially dubious individuals seeking a secure financial haven. According to a 2023 OECD assessment, corrupt authorities and criminals have used golden visas all around the world to dodge justice and launder money.
In response to a question concerning Russian oligarchs requesting the Gold Card, Trump said:
“Yeah, possibly. I know some Russian oligarchs that are very nice people.”
How the Gold Card Gets Around Legal Obstacles
Unexpectedly, Trump claimed that congressional approval is not needed for the Gold Card. Trump thinks this scheme is an administrative decision that would replace the EB-5 visa in two weeks, even though Congress normally decides citizenship requirements.
But legal experts warn that circumventing Congress on such a large-scale immigration strategy could result in serious legal issues.
Who is eligible to receive the Gold Card?
Nationality limits have not been explained.
Are background checks going to be conducted?
Trump says there would be “vetting,” but details are still unknown.
How many will be given out?
The quantity of Gold Cards that are available is uncapped by the administration.
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