Trump’s $5 million ‘gold card’ visa program set to launch: Here’s everything you need to know about it

U.S. President Donald Trump

In a significant shift in U.S. immigration policy, President Donald Trump has announced the imminent launch of the ‘gold card’ visa program. It offers foreign nationals a pathway to permanent residency and eventual citizenship in exchange for a $5 million investment. The announcement was made on May 21 at Axios’s ‘Building the Future’ event in Washington DC. 

Also Read: Trump plans to offer ‘gold cards’ for $5 million path to citizenship, replacing investor visas

Commerce Secretary Howard Lutnick revealed that a website called ‘trumpcard.gov’ will go up in about a week with further details and those interested in the program can start registering.

What is the ‘gold card’ visa programme?

The gold card visa is a new initiative to attract affluent individuals to invest in the U.S. economy. In return for a $5 million investment, applicants will receive permanent residency rights akin to those granted by a green card and a streamlined route to U.S. citizenship. This programme is set to replace the EB-5 investor visa scheme, which requires a lower investment threshold and mandates job creation.

When and how can one apply?

Prospective applicants can register their interest and access detailed information about the application process on ‘trumpcard.gov’. The initiative has garnered attention, with reports indicating that some cards have been sold in the Middle East, signalling strong early interest.

Is the ‘gold card’ visa programme legal? 

The Trump administration projects that the ‘gold card’ programme could generate substantial revenue, potentially aiding in reducing the national debt, which currently exceeds $36 trillion. However, the program’s legality has been a topic of debate. Some lawmakers argue that such a significant change in immigration policy requires Congressional approval.

What about the EB-5 program? 

The EB-5 program was created by the U.S. Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. Under this programme, a foreign investor can apply for a Green Card if he or she invests in a U.S. commercial enterprise and creates 10 permanent full-time jobs for U.S. workers. 

Rand Paul, a Republican Senator from Kentucky, expressed his concern in dismantling the previous visa framework by saying, “I don’t think it should replace the EB-5 because I think there are a lot of people who come to this country with the EB-5 level that might not come at the $5 million level.”

However, it is unlikely that the EB-5 programme can be abolished, even by a presidential order.  

President Joe Biden signed the EB-5 Reform and Integrity Act in 2022, which reauthorised the programme until 2027. The bill also included a provision to protect EB-5 investors who have invested, or plan to invest, before September 2026 in the event of a future lapse in the EB-5 RC programme. Since the immigration and nationality laws are protected under the U.S. constitution, a new legislation must be passed through Congress to terminate the EB-5 programme.