In an unexpected announcement, former President Donald Trump introduced the concept of a new “gold card” visa, offering wealthy individuals a direct path to U.S. citizenship.

This gold card would replace the EB-5 investor visa, a program that has existed for 35 years, offering residency to those who invest in U.S. businesses

To get a gold card, individuals would need to invest a hefty $5 million, a steep increase compared to the $1 million required by the EB-5.

Trump emphasized that wealthy investors would contribute significantly to the U.S. economy, paying taxes, creating jobs, and boosting growth.

Commerce Secretary Howard Lutnick confirmed that the gold card program would eradicate fraud and “nonsense,” problems often linked to the EB-5 program.

Similar to the green card, the gold card would provide permanent legal residency with a clear path to U.S. citizenship.

Around 8,000 people received EB-5 investor visas in the year ending September 30, 2022, highlighting the program's relevance in global immigration.

The EB-5 program has faced criticism for its vulnerability to fraud, with investigations into the legitimacy of investment funds.

Investor visas aren’t unique to the U.S. Over 100 countries, including the U.K., Spain, and Canada, offer similar golden visas to attract wealthy individuals.

Unlike the EB-5, the gold card would not have strict job creation requirements, making it a more streamlined option for investors

Trump floated the idea of selling up to 10 million gold cards to reduce the federal deficit, calling the plan “great, maybe fantastic.”

Trump envisioned the gold card as a way to bring together both wealthy investors and talented individuals, with companies funding talent entry into the U.S.

Trump stated that the gold card could bypass Congress, as the program would not require legislative approval to be implemented.

Critics might argue that such a program could widen the wealth gap or raise concerns about the economic fairness of such a system.

With this proposal, Trump suggests a bold new path for U.S. immigration, but only time will tell if it will take shape and become a cornerstone of future U.S. policy.