The Trump administration announced on Tuesday a reform of the U.S. investor visa program, introducing a new plan called the "Gold Card" to replace the existing EB-5 visa. Under the new policy, investors are required to invest at least $5 million to gain the privilege of a green card, and this plan also provides a pathway to U.S. citizenship.
U.S. Commerce Secretary Howard Lutnick stated at a White House press conference that the Trump administration will end the existing EB-5 visa program and is confident the new plan will help boost the American economy. Trump himself said, "We are introducing a Gold Card. You have a green card, but this card is more valuable. The price is set at $5 million; the wealthy can obtain a Gold Card to enter the U.S., bringing investments, jobs, and taxes. We believe it will be very successful."
The funds from the "Gold Card" program will be used to help pay down U.S. debt, Lutnick added, noting that all applicants must undergo rigorous scrutiny to ensure they are world-class global citizens who meet immigration requirements. The Trump administration believes this avenue allows investors to create more jobs in the U.S. and stimulate economic growth.
Compared to the existing EB-5 visa, the new "Gold Card" plan significantly increases the funding requirement. The current EB-5 program requires investors to invest $1 million and create at least 10 jobs, whereas the "Gold Card" program raises this requirement to $5 million.
However, it is unclear whether Trump can terminate the EB-5 program without congressional approval, as it was reauthorized in 2022.
The introduction of this plan has sparked widespread discussion about U.S. immigration policy and its impact on investors and the economy.
