Former U.S. President Donald Trump has unveiled a new immigration initiative offering residency and a pathway to citizenship for investors willing to pay $5 million. The programme, dubbed the "gold card," will replace the existing EB-5 visa programme and aims to attract global investors while reducing the national deficit.
The "gold card" will launch in two weeks and grant green card privileges to individuals who invest $5 million in the U.S. government. Trump emphasized that the programme would not bypass the traditional vetting process, assuring that only qualified "world-class global citizens" would be eligible for the residency opportunity.
“We’re going to be selling a gold card,” Trump stated during an announcement in the Oval Office. “It’s going to be a $5 million investment, and in return, they’ll receive green card privileges,” he added, highlighting the economic benefits the U.S. would gain through foreign investment.
The "gold card" initiative seeks to replace the controversial EB-5 visa, which previously allowed foreign investors to obtain a U.S. green card by investing in American businesses. Despite its growing popularity, the EB-5 programme faced criticism over its inefficiencies and long processing times, particularly among investors from countries like India, who were drawn to it as an alternative to the H-1B visa hurdles.
The new program promises a more streamlined process. The government hopes to use the funds to help reduce the U.S. budget deficit while attracting top-tier global talent. Details on the full implementation of the program remain unclear, but its anticipated launch has already sparked significant interest.
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