Donald Trump announces ‘Gold Card’ Visa for wealthy investors, offering fast-track to US citizenship

Trump announces ‘Gold Card’ US visas to replace EB-5 visa

US President Donald Trump has introduced a new investor visa program that will grant permanent residency and a path to citizenship to foreign nationals willing to invest $5 million (approximately Rs.41.5 crore) in the United States. Dubbed the “Trump Gold Card“, the program is set to launch in two weeks and will not require congressional approval, according to Trump’s announcement.

What is the ‘gold card’ visa?

The Gold Card Visa will provide foreign investors with the same privileges as a green card, allowing them to live and work permanently in the US. while offering a faster route to citizenship. The program is designed to replace the existing EB-5 visa program, which has been in place since 1990 and requires job creation as a qualification criterion.

Commerce Secretary Howard Lutnick described the new visa as a more efficient alternative, claiming it would eliminate fraud and bureaucratic hurdles associated with the EB-5 program.

Trump’s vision for the program

Speaking from the Oval Office, Trump emphasized the program’s potential economic benefits:

“They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money, paying a lot of taxes, and employing a lot of people. We think it’s going to be extremely successful.”

Trump suggested that the government could issue up to 10 million Gold Cards as a means to reduce the national deficit.

“It’s somewhat like a green card, but at a higher level of sophistication. It’s a road to citizenship for people of wealth or great talent. Companies will also be able to sponsor skilled individuals, ensuring long-term status in the country,” he added.

Comparison: Gold Card Visa vs. EB-5 Visa program

• Understanding the EB-5 Immigrant Investor Program
• The EB-5 visa, administered by the US Citizenship and Immigration Services (USCIS), was created in 1990 to stimulate the US economy through foreign investment.
• Investment requirements: Minimum investment of $1 million in a US business (or $800,000 in targeted employment areas).
• Job creation: Must generate at least 10 full-time jobs for US workers.
• Investment pathways:
  • Direct investment: The investor creates jobs within their own business.
    Regional Center Investment: Investors can meet job creation criteria indirectly (e.g., through supply chain impact).
  • The program has undergone multiple reauthorizations, with the EB-5 Reform and Integrity Act (2022) extending the Regional Center Program until September 30, 2027.

Key differences in Trump’s ‘Gold Card’ proposal

• No job creation requirement: Unlike the EB-5 visa, the Gold Card does not mandate job creation.
• Higher investment threshold: The required investment is $5 million, significantly higher than the EB-5 visa’s $1 million minimum.
• Faster processing: Trump claims the new program will eliminate delays and fraud seen in the EB-5 process.

Concerns over the investor visa model

The EB-5 visa has long faced scrutiny due to concerns over fraud, fund legitimacy, and special access granted to ultra-wealthy investors. A 2021 report by the Congressional Research Service and Government Accountability Office (GAO) found that:

• Some intermediaries use aggressive tactics to recruit foreign investors.
• Many applicants wrongly assume regional centers are government-run entities.

Global comparison: Golden visas in other countries

Investor visa programs are common worldwide, with over 100 countries offering similar schemes. Nations such as:

• United Kingdom
• Spain
• Greece
• Malta
• Australia
• Canada
• Italy

These countries have established “Golden Visa” programs to attract foreign capital, according to advisory firm Henley & Partners.

Criticism and political opposition

Despite Trump’s confidence in the program, critics argue that it caters to the ultra-wealthy while sidelining skilled professionals in backlogged visa programs.

Ajay Bhutoria, a Silicon Valley-based Democratic immigration advocate, dismissed the initiative as a pay-to-play scheme that prioritizes wealth over merit.

“This isn’t reform; it’s elitism dressed up as policy. Skilled engineers, doctors, and tech experts are stuck in visa backlogs for decades, while billionaires get a red-carpet entry,” Bhutoria said.

Legal viability: Can Trump bypass Congress?

While Trump has insisted that the Gold Card Visa does not require congressional approval, legal experts argue that US immigration law places restrictions on the qualifications for permanent residency and citizenship.

Without legislative backing, the long-term viability of the plan remains uncertain.

Conclusion

Trump’s Gold Card Visa aims to attract wealthy investors, replace the EB-5 program, and reduce the national deficit. However, critics see it as favoring the rich over skilled professionals, while legal questions remain about its implementation. As the program prepares for launch in two weeks, its success—or controversy—will depend on how it navigates political and legal challenges.

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