Chicago – February 26, 2025
Former President Donald Trump recently announced plans for a new visa called the “Gold Card,” which would allow wealthy foreign investors to gain permanent legal residency in the U.S. for a $5 million investment. This visa would replace the current EB-5 program, which has been in place for over 30 years.
Trump explained that the Gold Card would help bring successful investors to the U.S. who would create jobs, pay taxes, and spend money in the economy. He believes the program would be highly successful.
The new visa would also include a path to U.S. citizenship. Commerce Secretary Howard Lutnick added that the Gold Card would eliminate fraud and other problems associated with the EB-5 program, which has sometimes faced issues verifying the legality of the investors’ funds.
Currently, EB-5 visas require an investment of $1 million and the creation of at least 10 jobs. However, Trump did not mention the requirements for creating a job for the Gold Card.
Trump also suggested that the U.S. government could sell up to 10 million Gold Cards to help reduce the federal deficit. However, it is unclear whether this proposal would need approval from Congress, as Trump stated that the Gold Card could be implemented without it.
In 2022, about 8,000 people received EB-5 visas, but the program has been criticized for its potential for fraud.
