Pricey Path to Citizenship: USD5M Gold Card 

United States: The U.S. President Donald Trump revealed on Tuesday a “gold card” visa strategy for foreign investors worth $5 million which enables them to obtain American citizenship. The replacement plan aims to abolish the current EB-5 immigrant investor visa by creating this new route for foreigners seeking permanent residency, as reported by Reuters. 

A Price Tag on Citizenship 

Trump outlined his vision for the gold card, describing it as a premium alternative that would offer green card privileges while also serving as a direct route to U.S. citizenship. “We are going to be selling a gold card,” he stated, adding, “We are going to be putting a price on that card of about $5 million.” Trump emphasized that this program targets wealthy individuals looking to immigrate to the U.S., with further details expected to be revealed within two weeks. 

No Exclusions for Russian Oligarchs 

When asked whether Russian oligarchs would qualify for the new gold card, Trump responded, “Yes, perhaps… I know some wonderful Russian oligarchs.” This suggests no specific restrictions on nationality, potentially making the program accessible to affluent applicants worldwide. 

Replacing the EB-5 Visa Program 

Since 1990 the EB-5 Immigrant Investor Program created by Congress allows foreign investors to receive green cards by making investments for American business projects that promote both job creation and economic development. Trump criticized the EB-5 program because he believed it contained “nonsense, make-believe and fraud” while permitting investors to get their green cards at a reasonable cost. 

Commerce Secretary Howard Lutnick declared during an interview that replacing the EB-5 program with the Trump gold card would be the appropriate course of action. The Trump team promises to introduce the Trump gold card as a substitute for the existing EB-5 program, as reported by Reuters. 

Awaiting Further Details 

The new gold card seeks wealthy investors to provide an upmarket option against the EB-5 visa. Further details about this program are upcoming but its influence on U.S. immigration and investment regulations remains to be determined.