President Donald Trump announced on Tuesday, February 25, 2025, plans to introduce a new immigration avenue for wealthy non-citizens through the purchase of what he termed a "gold card," priced at $5 million. This proposal aims to offer permanent U.S. residency and citizenship pathways, effectively replacing the existing EB-5 investor visa program with the expectation of generating significant revenue for the federal government.
The introduction of the "gold card" came during remarks made at the White House, where Trump claimed it would attract affluent individuals who could contribute to the economy. "We are going to be selling a gold card. We are going to be putting a price on it of about $5 million," Trump stated, emphasizing the potential financial benefits, including tax contributions and job creation for American workers.
Commerce Secretary Howard Lutnick, who accompanied Trump during the announcement, echoed the president's sentiments, dismissing the previous EB-5 program as “full of nonsense.” He highlighted the need for a more sophisticated solution, reinforcing Trump's perspective on the necessity to eliminate what they regarded as the issues inherent to the old system.
The EB-5 immigrant investor visa program, implemented by Congress back in 1990, allowed foreigners to achieve U.S. residency by investing either $1 million or $500,000 if embedded within targeted employment areas (TEA) resulting in at least ten jobs being created. Under the proposed new arrangement, the 'gold card' would not only maintain the green card privileges of its predecessors but also pave the way for citizenship without requiring Congressional approval, according to Trump.
Trump projected ambitious sales expectations for his "gold card," mentioning the potential to sell up to one million cards. "If you add up the numbers, they’re pretty good," he gleefully stated, predicting trillions of dollars could bolster the national debt relief efforts. The program's architecture is anticipated to include thorough vetting of applicants, ensuring they are, as Lutnick put it, "wonderful world-class global citizens."
While the specifics of job creation requirements under the new proposal remain vague, Trump indicated this new avenue would be aimed at enticing high-wealth individuals and companies to invest in the U.S. By contrasting this newly proposed method with its predecessor, he maintained, "It’s going to give you green card privileges plus it’s going to be a route to (American) citizenship."
The announcement sparked discussions about potential exclusions from this new program. When asked if notorious individuals such as Russian oligarchs would qualify for the "gold card," Trump responded affirmatively, adding, "Yeah, possibly. Hey. I know some Russian oligarchs who are very nice people," illustrating the potential contention surrounding elite investment and citizenship.
Notably, the EB-5 program, which ended up being linked to several fraud cases and mismanagement allegations over the years, has faced increasing scrutiny. With the new proposal, there are questions about whether existing EB-5 visa holders would lose their privileges, concerns pointedly noted by immigration analysts.
Trump's broader immigration strategies also tie neatly with his long-sought goal of mass deportations and contentious policies. The latest proposal is presented not only as an immigration strategy but as part of his efforts to shift public focus from broader deportation initiatives.
Democrat and activist criticisms of this "gold card" initiative stem from concerns it promotes immigration based on wealth rather than humanitarian needs or merit, opening the door to criticisms related to classism within U.S. immigration policy. The Republican administration's framing, on the other hand, brushes these concerns aside, focusing on economic growth potential through foreign investment.
Trump concluded by stating more details about the program will be rolled out within two weeks, leaving many questions hanging about its operational architecture and the overall reception it will receive among both lawmakers and the public.
The shifting immigration discourse continues to evolve as the administration seeks to redefine U.S. pathways to citizenship and residency, with the "gold card" proposal highlighting the intersection of wealth, opportunity, and immigration policy.