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Feb 27, 2025, 11:31 IST

Washington, D.C.: Former U.S. President Donald Trump has announced a new residency permit, the Gold Card, priced at $5 million. This initiative, set to launch in two weeks, is expected to replace the existing EB-5 immigrant investor visa program.

What Is the Gold Card?

The Gold Card offers wealthy foreign nationals a direct path to U.S. residency through a one-time purchase, streamlining the process compared to traditional green cards, which require employment, family sponsorship, or investment.

“It’s going to give you green card privileges plus a route to American citizenship,” Trump stated.

Gold Card vs. Green Card: Key Differences

Green Card: Grants permanent U.S. residency through employment, family sponsorship, or investment (via the EB-5 program).

Gold Card: Provides the same residency benefits but allows applicants to fast-track the process by paying $5 million.

Why Replace the EB-5 Green Card Program?

The EB-5 program, established in 1992, allows foreigners to invest at least $1.05 million (or $800,000 in economically distressed areas) in U.S. projects to qualify for a green card. Over the years, it has helped finance major developments, including some linked to Trump's family. However, the program has also faced allegations of misuse and fraud.

During his first term, Trump attempted to raise the minimum investment requirement to $1.8 million, but a judge blocked the move in 2021. The Biden administration later reset the amounts to $1.05 million/$800,000 when it renewed the program in 2022.

The Gold Card aims to simplify the process by eliminating the investment and job creation requirements, catering specifically to high-net-worth individuals seeking immediate residency.

Who Can Apply?

The Gold Card is expected to be open to all nationalities. When asked whether Russians would be eligible, Trump responded: “Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people.”

More details on the Gold Card program are expected to be released in the coming weeks.