President Trump intends to sell $5 million “gold cards” offering residency and a path to citizenship to wealthy foreigners, potentially generating trillions to reduce the national debt.
Democrats think this is about rewarding the wealthy, but it’s about more than that: it’s about investment!
At a Glance
- Trump announced plans to sell 1 million $5 million “gold cards” offering green card privileges and a pathway to citizenship
- The program targets wealthy individuals and those with exceptional talent who can create jobs and invest in America
- The initiative would replace the current EB-5 investor visa program with a more sophisticated system
- Applicants would undergo thorough vetting to ensure they are “wonderful, world-class global citizens”
- Congressional approval would be required for the citizenship pathway component
A New Immigration Investment Program
President Donald Trump has unveiled an ambitious plan to introduce a $5 million “gold card” program for wealthy foreigners seeking to obtain U.S. residency status. The initiative aims to attract global elites who can contribute significantly to the American economy while generating substantial revenue to help pay down the national debt. According to the President, the program has been approved by administration lawyers and could launch within two weeks.
“It’s somewhat like a green card, but at a higher level of sophistication. It’s a road to citizenship for people, and essentially people of wealth or people of great talent,” Trump said.
The gold card would offer more privileges than the standard green card and target individuals who can make substantial investments or possess exceptional abilities that would benefit the United States. While similar to existing investor visa programs, this approach would dramatically increase the financial threshold and potential benefits to the nation.
The administration believes selling one million gold cards could generate $5 trillion, creating a significant opportunity to address the national debt. President Trump has suggested the potential could be even higher, mentioning the possibility of selling up to 10 million cards to eligible applicants worldwide. This revenue stream would come directly from wealthy foreign nationals seeking permanent residency in America.
“We’re going to be putting a price on that card of about $5 million and that’s going to give you green card privileges-plus,” President Trump said.
Commerce Secretary Howard Lutnick confirmed the program would replace the existing EB-5 visa initiative, which has been criticized for various shortcomings. The current EB-5 program, created in 1990 and reauthorized in 2022, requires investments of $1 million, or $500,000 in certain targeted employment areas. The gold card program would significantly raise this threshold while promising a more streamlined process.
Qualification Process and Eligibility
Unlike the current system, the gold card would focus explicitly on attracting wealthy individuals who can pay the substantial fee while also creating jobs in America. Rather than simply rewarding rich people, the application will cost a huge sum of money to merely apply, and will require continued investment in the United States.
Applicants would undergo thorough vetting to ensure they meet the standards expected of program participants. The administration has indicated that Russian oligarchs, Indian tech entrepreneurs, and other wealthy individuals from around the world could be potential applicants.
“Rather than having this sort of ridiculous EB-5 program, we’re going to end the EB-5 program. We’re going to replace it with the Trump Gold Card, which is really a green card,” Lutnick said.
The program would also allow corporations to purchase U.S. residency for highly skilled or highly educated employees, potentially addressing some labor market needs. Every applicant would be carefully scrutinized to verify their status as respectable members of the international community before approval.
While the administration has vetted the program legally, President Trump acknowledged that congressional approval would be necessary for the citizenship pathway component. This indicates that while the residency aspects of the program might be implemented through executive action, the full benefits would require legislative cooperation to become reality.
This sounds like something Democrats, once upon a time, would have loved to implement. What happened to them?
