In a surprising transfer, President Donald Trump has introduced the launch of a brand new “Gold Card” visa program, providing everlasting U.S. residency and a direct path to citizenship—for a jaw-dropping worth of $5 million.
Standing within the Oval Office on Tuesday, flanked by Commerce Secretary Howard Lutnick, Trump declared this system as a “game-changer for America’s economy.” The initiative goals to exchange the present EB-5 investor visa and entice excessive-internet-value people prepared to make investments instantly within the U.S. authorities for residency privileges.
“Wealthy people will be coming into our country by buying this card. They’ll be successful, they’ll be paying a lot of taxes, and employing a lot of people,” Trump mentioned confidently.
A $5M Path to US Citizenship—But for Whom?
The Gold Card, described as a “green card plus”, gives an expedited path to U.S. citizenship for those that can afford the attention-watering price ticket. Unlike the EB-5 visa, which required buyers to put $1 million into job-creating companies, the Gold Card will contain a direct $5 million cost to the U.S. Treasury.
Commerce Secretary Howard Lutnick, defending the excessive worth, said:
“This will eliminate the fraud and nonsense of the EB-5 program. The Gold Card is clean, direct, and benefits the U.S. economy.”
While many countries, together with Canada, Australia, the U.Okay., and Malta, have related “Golden Visa” packages, the U.S. has historically maintained strict residency pathways. The introduction of this extremely-unique residency-for-cash scheme marks a radical shift in American immigration coverage.
A Billion-Dollar Cash Grab or a Bold Economic Strategy?
Trump mused that the Gold Card might assist scale back the nationwide deficit if simply 10,000 have been bought, producing a staggering $50 billion in income.
“This could be huge—maybe fantastic! We sell a million of these, and America wins,” he added.
Critics argue that the coverage commercializes U.S. residency and opens the door to rich elites and presumably questionable figures wanting for a protected monetary haven. A 2023 OECD report warned that golden visas globally have been exploited by criminals and corrupt officers to launder cash and evade justice.
When requested about Russian oligarchs making use of for the Gold Card, Trump responded:
“Yeah, possibly. I know some Russian oligarchs that are very nice people.”
No Congressional Approval? How the Gold Card Could Bypass Legal Hurdles
Surprisingly, Trump said that the Gold Card doesn’t require congressional approval. While Congress sometimes determines citizenship {qualifications}, Trump believes this program is an government motion that can exchange the EB-5 visa inside two weeks.
However, authorized specialists warning that bypassing Congress on an immigration coverage of this scale could lead on to important authorized challenges.
Public Reaction: Outrage, Excitement, and Unanswered Questions
The announcement has triggered combined reactions throughout the nation:
✅ Supporters hail it as a superb transfer to usher in excessive-worth buyers and create jobs.
❌ Critics slam it as “selling American residency to the highest bidder.”
Many are left questioning:
- Who qualifies for the Gold Card? No particulars have been given on nationality restrictions.
- Will there be background checks? Trump claims “vetting” might be concerned, however specifics stay unclear.
- How many might be issued? The administration has not set a cap on the variety of Gold Cards obtainable.
Trump Announced $5 Million “Gold Card” for Wealthy Elites to Obtain Fast-Track U.S. Residency FULLY FUNDED SCHOLARSHIPS SCHOLARSHIPS SCHOLARSHIPS FOR INTERNATIONAL STUDENTS UNDERGRADUATE SCHOLARSHIPS
