In a bold move to reshape US immigration policy, President Donald Trump has proposed a $5 million “gold card” for wealthy foreign investors. This initiative is set to replace the existing EB-5 investor visa program, which has been in place for over three decades. The new gold card aims to offer a faster path to US citizenship and residency, potentially attracting more foreign wealth and investment into the country. However, there are significant differences between Trump’s proposal and the current EB-5 visa system.
While the EB-5 visa program has helped bring foreign investment to the US by requiring applicants to invest in US businesses, Trump’s gold card is designed to further streamline the process and raise the financial bar. Trump’s initiative is likely to not only increase the required investment, but also provide a more expedited route to permanent residency and citizenship.
Financial differences: $1 million vs. $5 million
The most glaring distinction between the two programs is the amount of investment required. The EB-5 visa, established in 1990, requires investors to contribute at least $1 million to a US-based business that creates at least 10 jobs. In comparison, Trump’s gold card would raise the investment requirement to a hefty $5 million.
The higher financial threshold is meant to attract the wealthiest individuals, who would not only contribute more money but also generate more significant economic benefits for the country. In turn, this would help fund various domestic initiatives, such as Trump’s tax cuts.
Citizenship and residency processing time
Another major difference between the EB-5 visa and the gold card proposal is the speed at which foreign investors could gain US residency and citizenship. The EB-5 visa, while it offers permanent residency, involves a lengthy application process. Trump’s gold card, on the other hand, would promise a faster route to permanent residency and the ability to work in the US This distinction is expected to make the gold card more appealing to high-net-worth individuals who prioritize a swift move to the US.
Availability of visas: Limited versus potentially unlimited
The number of available visas also differentiates the two programs. For the fiscal year 2025, there are only 18,786 EB-5 visas available, which limits the number of investors who can qualify for permanent residency. In sharp contrast to this, Trump has suggested that millions of gold cards could be issued, allowing for far greater numbers of wealthy investors to gain US residency. This expansion is expected to significantly boost revenue, which would help fund various domestic projects and tax reductions.
However, legal experts caution that the president does not have the authority to unilaterally abolish the EB-5 program, which is backed by Congress. Despite this, Trump’s proposal signals a desire to replace the EB-5 visa program with a more lucrative and less restrictive alternative.
What the future holds for US immigration
Trump’s gold card initiative is still in the early stages, and its eventual implementation remains uncertain. As quoted by Fast Company, the program would likely face significant political and legal hurdles. Nonetheless, the proposal highlights the growing focus on attracting foreign investment and wealthy individuals to the US through more streamlined and financially substantial immigration programs.
While the EB-5 program remains active through 2027, Trump’s gold card idea could change the landscape of US immigration, offering faster citizenship and larger financial commitments in exchange for a quicker path to permanent residency.
