The Gold Card visa will grant foreign investors permanent residency in exchange for a financial investment.
What is the US Gold Card Visa Announced by Donald Trump for Citizenship?: Former U.S. President Donald Trump has introduced a new immigration initiative called the “Gold Card” visa, offering a fast-track route to U.S. citizenship for foreign investors willing to pay $5 million. The proposed scheme is set to replace the EB-5 visa program, which has long facilitated investor-based residency in the U.S.
What is the US ‘Gold Card’ Visa?
The Gold Card visa will grant foreign investors permanent residency in exchange for a financial investment. Trump claimed that this initiative would attract wealthy individuals to the United States, creating economic benefits. Further details about the program are expected to be announced in two weeks.
Donald Trump’s Statement on the US ‘Gold Card’ Visa
During the announcement, Trump emphasized that the Gold Card would offer green card-like privileges and a clear path to American citizenship. When asked if Russian oligarchs could qualify for the program, Trump responded, “Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people.”
https:
Why Replace the EB-5 Visa Program?
The EB-5 visa program, established in 1990, was designed to encourage foreign investment in the U.S. economy through job creation. Under the program, foreign investors could obtain a green card by investing at least $1.05 million, or $800,000 in economically distressed areas.
Trump’s Commerce Secretary Howard Lutnick criticized the EB-5 program, calling it “nonsense” and “fraud.” He argued that the program allowed investors to obtain U.S. residency at a relatively low cost, prompting the administration to introduce the Gold Card as a higher-value alternative.
Concerns Over EB-5 and Trump’s Past Links
The EB-5 program has faced scrutiny for potential abuse and fraud, with reports suggesting that businesses—including some linked to Trump’s family—have used it to fund real estate projects. During Trump’s first presidency, the program was criticized for failing to meet its economic objectives, leading to calls for reform.
The EB-5 visa was last renewed in 2022 under President Joe Biden, raising the minimum investment requirements. In 2019, Trump attempted to increase the investment threshold for targeted areas to $900,000, but a federal judge struck down the proposal in 2021.
With the Gold Card visa, Trump aims to overhaul the investor immigration system, though details of its implementation remain unclear. The plan has already sparked debate over its potential impact on wealth-driven migration and the future of U.S. immigration policies.
(For more news apart from What is the US Gold Card Visa Announced by Donald Trump for Citizenship, stay tuned to Rozana Spokesman)
