New EB-5 Visa Reform: Gold Card for Wealthy Immigrants Unveiled

I don't know who this is, man in suit with thumbs up.

President Trump unveils a premium “Gold Card” immigration pathway priced at $5 million, targeting wealthy investors while promising to eliminate the fraud-plagued EB-5 program.

Key Takeaways

The $5 million “Gold Card” offers enhanced privileges beyond traditional green cards and aims to attract high-net-worth immigrants who can create jobs and economic growth.
Trump’s administration plans to phase out the existing EB-5 visa program, which has been plagued by fraud issues, replacing it with this more selective, premium alternative.
Proceeds from Gold Card sales would flow directly to the federal government, potentially helping reduce the national deficit while bypassing congressional approval.
The program is set to launch within two weeks, though specific implementation details remain under development.
Commerce Secretary Howard Lutnick indicated the administration will be highly selective about applicants, focusing on “wonderful world-class global citizens.”

A Premium Immigration Pathway

President Donald Trump has announced a new immigration initiative called the “Gold Card,” a premium alternative to the traditional green card with a price tag of $5 million. The program targets wealthy foreign investors and entrepreneurs who can make substantial financial contributions to the American economy. During his announcement, Trump described the new offering as providing green card privileges “plus” additional benefits, positioning it as an elite immigration pathway for high-net-worth individuals seeking to live and work in the United States.

The Gold Card represents a significant shift in America’s approach to wealthy immigrants. The program is described as offering a “higher level of sophistication” compared to standard green cards. Unlike traditional immigration pathways that often involve lengthy processing times and complex requirements, the Gold Card appears designed to streamline the process for those who can afford the substantial entry fee while promising enhanced benefits, though specific details about these additional privileges remain forthcoming.

President Trump wants to offer wealthy immigrants “gold cards,” offering to sell them the possibility of citizenship for $5 million. Commerce Secretary Howard Lutnick suggested the program would begin in two weeks and replace the existing EB-5 immigrant investor program. pic.twitter.com/SSNMLPjtln

— The Associated Press (@AP) February 26, 2025

Replacing the Troubled EB-5 Program

A key motivation behind the Gold Card initiative appears to be addressing longstanding issues with the existing EB-5 Immigrant Investor Program. Commerce Secretary Howard Lutnick has indicated that the Gold Card will replace the EB-5 program, which has granted green cards to foreign investors who make substantial investments in U.S. businesses but has been plagued by fraud concerns. The EB-5 program typically requires investments between $800,000 and $1.05 million and the creation of at least 10 jobs.

The Gold Card’s significantly higher price point—$5 million compared to the EB-5’s approximately $1 million requirement, appears designed to be more selective while generating greater revenue. Unlike the EB-5 program, where funds go to private businesses or regional centers that may have been susceptible to fraud, Gold Card payments would flow directly to the federal government, potentially providing a new revenue stream that could help address the national deficit.

Economic Benefits and Implementation

Trump has emphasized the economic benefits of the Gold Card program, suggesting it could generate significant revenue while attracting individuals who would contribute to job creation and economic growth. During his announcement, the President made the bold claim that the government could potentially sell “a million or more” Gold Cards, which would generate trillions in revenue if realized. While this projection appears optimistic, even a fraction of that number would represent substantial income for federal coffers. “We’re gonna be selling a gold card. You have a green card, this is a gold card. We’re gonna be putting a price on that card of about $5 million and that’s gonna give you green card privileges plus” revealed President Trump.

The administration has indicated the program could launch within two weeks, though questions remain about its implementation. Trump stated that congressional approval would not be necessary, suggesting the initiative could be implemented through executive action. However, legal experts may question whether such a significant change to immigration policy can be enacted without legislative involvement. The administration has also emphasized they will be highly selective in determining eligibility, with Secretary Lutnick stating they’ll ensure applicants are “wonderful world-class global citizens.”

Target Demographics and Selection Criteria

The Gold Card specifically targets wealthy individuals with the financial means to invest $5 million for immigration privileges. Trump has stated that eligibility will focus on “people with money and people that create jobs,” suggesting a preference for entrepreneurs and business leaders who can stimulate economic growth. The program may appeal particularly to high-net-worth individuals from countries with political uncertainty or those seeking premium pathways to U.S. residency without the complexities of other immigration programs.

Notably, when questioned about potential Russian oligarch eligibility, Trump did not rule out the possibility, suggesting a broad international target market. However, existing sanctions and security protocols would presumably still apply to any applicants. The administration has emphasized that while the door is open to wealthy immigrants willing to pay the premium, they will maintain stringent vetting procedures to ensure applicants meet their criteria for being beneficial additions to American society.