On February 25, 2025, President Donald Trump announced plans to terminate the existing EB-5 Immigrant Investor Visa Program, introducing a new “gold card” initiative aimed at attracting affluent foreign investors. This proposed program would offer a pathway to U.S. citizenship for a $5 million investment.
The EB-5 Program: A Brief Overview
Established in 1990, the EB-5 program was designed to stimulate the U.S. economy through job creation and capital investment by foreign investors. It granted green cards to individuals investing substantial sums in U.S. businesses that generated or preserved jobs. Over time, the program faced criticism for instances of fraud and inefficiencies.
Introducing the $5 Million ‘Gold Card’
In a move to overhaul the existing system, President Trump proposed the “gold card,” which would replace the EB-5 visa. Priced at $5 million, this card aims to provide green card privileges and a direct route to American citizenship. The administration plans to release detailed information about the scheme within two weeks.
Commerce Secretary Howard Lutnick supported the change, stating that the gold card would be an improvement over the EB-5 program, which he considered flawed.
Potential Implications and Reactions
While the administration believes this initiative will attract wealthy investors, some experts express skepticism. Concerns have been raised that the high cost, coupled with potential tax implications on global income, might deter potential applicants. Additionally, the proposal’s success hinges on congressional approval, adding another layer of complexity to its implementation.
As the administration prepares to unveil more details, the global community watches closely to assess how this significant shift in U.S. immigration policy might reshape investment landscapes and international perceptions of American residency opportunities.