Trump Plans to Replace EB-5 Visa With ‘Gold Card’ Program

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Trump Plans to Replace EB-5 Visa With ‘Gold Card’ Program \ Newslooks \ Washington DC \ Mary Sidiqi \ Evening Edition \ President Donald Trump announced plans for a new “Gold Card” visa, offering a path to U.S. citizenship for a $5 million investment, replacing the longstanding EB-5 investor visa program. Trump described the initiative as a way to attract wealthy individuals who would create jobs, pay taxes, and boost the economy. Commerce Secretary Howard Lutnick said the Gold Card would launch in two weeks, raising investment requirements and eliminating fraud concerns associated with the current EB-5 system. Trump floated the idea of selling 10 million Gold Cards to reduce the national deficit, though details on job creation requirements remain unclear.

Trump’s $5M ‘Gold Card’ Visa Proposal: Quick Looks

New Investor Visa Announced: President Trump unveiled a $5 million ‘Gold Card’ visa, offering a path to U.S. citizenship for wealthy investors.
Replaces EB-5 Visa Program: The Gold Card will replace the EB-5 visa, which required a $1 million investment and job creation for green card eligibility.
No Job Creation Requirement Mentioned: Unlike EB-5 visas, Trump’s proposal does not specify a requirement to create U.S. jobs, sparking concerns over its economic impact.
Trump Suggests Selling 10 Million Gold Cards: The president mused that mass sales of Gold Cards could generate trillions in revenue, possibly reducing the national deficit.
Congress May Challenge Program: Trump claims the Gold Card won’t require congressional approval, but critics argue that immigration and citizenship rules must be set by lawmakers.
Global Trend in ‘Golden Visas’: Over 100 countries, including the U.K., Canada, and Spain, offer similar investment-based residency programs, making this a competitive move by the U.S.
What’s Next? The Gold Card program is set to launch in two weeks, but legal challenges and political pushback could delay or reshape its implementation.

Deep Look

In a major immigration policy shift, President Donald Trump announced Tuesday that his administration will introduce a new “Gold Card” visa program, offering a fast track to U.S. citizenship for investors who contribute at least $5 million.

The Gold Card would replace the long-standing EB-5 visa program, which has been in place since 1990 and allows foreign nationals to obtain U.S. green cards by investing in American businesses that create jobs.

Trump framed the new initiative as a way to attract ultra-wealthy individuals who will spend, invest, and employ Americans, suggesting that it could even be used as a tool to reduce the national deficit.

“They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it’s going to be extremely successful,” Trump said in the Oval Office.

However, questions remain about how the program will be implemented, including whether it will require congressional approval, if there will be job creation requirements, and how it aligns with Trump’s broader immigration policies.

What Is the Gold Card Visa and How Is It Different From EB-5?

Commerce Secretary Howard Lutnick confirmed that the Gold Card program would officially replace the EB-5 visa system within two weeks.

The EB-5 program, created by Congress in 1990, allows foreign investors to obtain U.S. green cards by investing at least $1 million (or $800,000 in designated areas) into businesses that create at least 10 full-time American jobs.

However, Trump’s Gold Card significantly raises the investment threshold to $5 million and eliminates many of the restrictions that governed the EB-5 program.

Key Differences Between Gold Card and EB-5:

Feature	EB-5 Visa	Gold Card Visa
Minimum Investment	$1 million (or $800,000 in designated areas)	$5 million
Job Creation Requirement	Must create at least 10 U.S. jobs	Not specified
Annual Visa Cap	Limited number of visas available	No announced cap
Path to Citizenship	Green card with pathway to citizenship	Green card with pathway to citizenship
Congressional Oversight	Established by Congress	Trump claims no congressional approval needed

Lutnick argued that the Gold Card would reduce fraud, which has been a long-standing criticism of the EB-5 program, while also attracting higher-caliber investors.

“We’re eliminating the nonsense that characterized the EB-5 program,” Lutnick said.

Trump Suggests Gold Card Revenue Could Reduce National Deficit

One of the most surprising aspects of Trump’s Gold Card announcement was his suggestion that it could be a tool to reduce the U.S. deficit.

Trump floated the idea of selling 10 million Gold Cards, which would generate $50 trillion in revenue—a staggering figure that could, in theory, erase the national debt.

“It could be great, maybe it will be fantastic,” Trump said, without providing details on whether such a large-scale program would be feasible.

Investor Visas: A Global Trend

The Gold Card program follows a global trend of investor visa programs, often referred to as “golden visas”, which allow wealthy individuals to gain residency or citizenship in exchange for financial investment.

Countries that already have similar programs include:

United Kingdom
Spain
Greece
Malta
Australia
Canada
Italy

The U.S. has long offered the EB-5 visa, but Trump’s proposed $5 million threshold would make it one of the most expensive investor visa programs in the world.

Could the Gold Card Program Bypass Congress?

Trump claimed that the Gold Card visa program would not require congressional approval, as it is being structured as an administrative policy change rather than new legislation.

However, Congress traditionally sets qualifications for citizenship, which could lead to legal challenges if the program is seen as overstepping executive authority.

If Congress or the courts intervene, it could complicate the rollout of the Gold Card initiative.

Lack of Job Creation Requirement Raises Concerns

One of the biggest differences between the EB-5 and Gold Card programs is the absence of a job creation requirement.

Under the EB-5 system, investors must create at least 10 full-time U.S. jobs, ensuring that their financial contributions directly benefit the American workforce.

Trump did not mention any job creation requirement for the Gold Card, raising concerns that it could simply become a pay-to-play citizenship program without clear economic benefits.

Potential Controversy and Impact

The Gold Card visa proposal is already generating debate, particularly around issues of fairness, economic impact, and immigration policy.

Potential Criticisms Include:

Wealth-Based Immigration: The program gives an immigration advantage to the ultra-rich, while other immigrants face long wait times and strict quotas.
Foreign Influence: Could wealthy foreign investors gain undue influence in U.S. markets and politics?
No Job Creation Mandate: Without a requirement to create jobs, how does this program benefit American workers?
Legal Challenges: Congress and the courts may intervene if Trump oversteps executive authority in creating a pathway to citizenship without congressional approval.

Despite these concerns, Trump’s allies argue that the program will inject billions into the economy and attract elite global talent.

What’s Next?

Trump plans to launch the Gold Card program within two weeks, formally replacing the EB-5 visa.
Congress may challenge the claim that the program does not require legislative approval, potentially leading to legal battles.
The business community will assess whether the $5 million price tag is too high or if it will attract strong global interest.
Debate over the job creation requirement is likely to intensify, as critics question how the program benefits everyday Americans.

If Trump’s plan moves forward without major obstacles, the Gold Card visa could represent one of the most significant immigration policy changes of his presidency, reshaping how the U.S. attracts high-net-worth individuals.