US President Donald Trump announced a new immigration initiative on Tuesday, dubbed the “gold card” program.
This program offers a visa to wealthy individuals willing to invest $5 million in the United States, providing permanent residency and a pathway to US citizenship.
President Trump emphasized the potential benefits of the program, stating that it would draw successful individuals who would contribute significantly to the US economy. “Wealthy people will be coming into our country by buying this card,” he said. “They’ll be spending a lot of money, paying a lot of taxes, and employing a lot of people.”
The “gold card” program will replace the existing EB-5 Immigrant Investor Program, which has been in place since 1990. The new program raises the investment threshold to $5 million, eliminating the need for job creation requirements.
Commerce Secretary Howard Lutnick criticized the current EB-5 program, describing it as “full of nonsense, make-believe, and fraud.”
Critics argue that the program prioritizes wealth over merit, sparking controversy. However, President Trump asserted that the “gold card” would not require congressional approval.
The administration plans to implement the program within the next two weeks, believing it will attract high-caliber investors while reducing potential fraud.
