President Donald Trump announced a million gold card for wealthy foreigners looking to move to and invest in the U.S.

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Simone Del Rosario Business Correspondent

Politics

Trump’s ‘gold card’ lets rich immigrants pay $5 million for US residency

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Simone Del Rosario Business Correspondent

By Simone Del Rosario (Business Correspondent), Brent Jabbour (Senior Producer), Emma Stoltzfus (Video Editor)

President Trump announced a plan for a $5 million gold card. It would replace the EB-5 Immigrant Investor Program and costs around five times as much.
Golden visas are used in countries around the world to provide temporary or permanent residency to wealthy immigrants.
Congress first created the EB-5 immigrant visa program in 1990 “to stimulate the U.S. economy through job creation and capital investment by foreign investors.” But experts say it invites more fraud than other visa programs.

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The Trump administration has a plan to get wealthy immigrants into the United States. Trump’s gold card will allow foreigners to pay $5 million to live and work in the country with a possible pathway to citizenship.

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“You have a green card,” President Donald Trump told reporters in the Oval Office Tuesday, Feb. 25. “This is a gold card. We’re going to be putting a price on that card of about $5 million. And that’s going to give you green card privileges plus it’s going to be a route to citizenship.”

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“They’ll be wealthy, and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people,” the president added. “And we think it’s going to be extremely successful.”

Many countries offer golden visas. Here’s how they work.

A golden visa is not a novel idea and is employed around the world.

Also known as “resident by investment,” these special visas provide temporary or permanent residency in the immigrant’s nation of choice. The investment could include starting a business, making a donation or simply buying property in the desired destination.

Golden visas are often bought by citizens of countries like China and Russia who want to relocate to places like Western Europe. Many countries don’t require full-time residency to secure the visa.

American interest in golden visas abroad picked up the week Trump won the 2024 election. Immigration firm Henley & Partners told Bloomberg American inquiries quadrupled from the week before.

There is also “citizenship by investment.” Securing citizenship in an EU member state like Malta could get you a “golden passport,” which allows you to travel and work in any of the bloc’s member nations.

Malta charges around $630,000 for its golden visa. The U.S. proposal of $5 million is among the richest in the world. Singapore’s program commands around $7.5 million. New Zealand is also one of the richer programs, but recently made changes to attract more interest.

Meanwhile, Spain is shutting down its golden visa program in April 2025.

How will Trump’s proposed golden visa work?

The president said while the plan could provide a path to citizenship, there are some limitations to what he can unilaterally do.

“We don’t need Congress now because we’re not doing citizenship,” Trump said in response to a question about needing congressional approval. “It’s a path to citizenship, a very strong path to citizenship. But we’re not doing citizenship. For that, I’d have to get Congress.”

The gold card would effectively replace the current EB-5 Immigrant Investment Program.

Why does Trump want to replace the existing EB-5 program?

Congress first created the program in 1990 “to stimulate the U.S. economy through job creation and capital investment by foreign investors.” EB-5 grants green cards to investors and their families who make necessary investments in the U.S. and create full-time American jobs.

If those investors target a higher unemployment area, the minimum investment is $900,000, according to government information on the program. Outside of the targeted employment area, the minimum investment doubles to $1.8 million.

“So the EB-5 program was really you lend some money, but it was full of nonsense, make believe and fraud,” Commerce Secretary Howard Lutnick told reporters in the Oval Office. “And it was a way to get a green card that was low priced. So the president said rather than having this sort of ridiculous EB-5 program, we’re going to end the EB-5 program. We’re going to replace it with the Trump gold card.”

The Congressional Research Service said compared to other immigrant visas, EB-5 faces additional risks of fraud, particularly in verifying the investment funds are obtained legally.

Trump said all applicants under the program will “be vetted very carefully.”

The Trump administration said they will start selling the gold card in two weeks. Lutnick said the proceeds could be used to pay down national deficits.

Tags: China, Commerce Department, Donald Trump, EB-5, Europe, European Union, green card, Howard Lutnick, Immigrant, Immigration, Malta, Russia, Visa

Simone Del Rosario:

President Donald Trump says he’s got a golden way to get wealthy immigrants into the country.

Donald Trump:

You have a green card, This is a gold card. We’re going to be putting a price on that card of about $5 million. And that’s going to give you a green card privileges plus it’s going to be a route to citizenship.

Simone Del Rosario:

Trump says the gilded cards will allow foreigners who can afford the $5 million price tag to live and work in the U.S.

Donald Trump:

They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people. And we think it’s going to be extremely successful.”

Simone Del Rosario:

But the idea isn’t new to the U.S. And it’s not unique to the U.S. I’ll explain.

Golden visas are often bought by citizens of countries like China and Russia who want to relocate to places like Western Europe.

Also known as “resident by investment,” these special visas provide temporary or permanent residency in the nation of choice. The investment could include starting a business, making a donation or simply buying property in the desired destination.

Many countries don’t require full-time residency to obtain a golden visa.

The week President Trump won the 2024 election, American interest in golden visas abroad picked up. Immigration firm Henley & Partners told Bloomberg American inquiries quadrupled from the week before.

Some countries go beyond residency to “citizenship by investment.” Securing citizenship in an EU member state like Malta could get you a “golden passport,” which allows you to travel and work in any of the bloc’s member nations.

Despite Trump saying his plan would provide a path to citizenship, it comes with limitations.

Reporter:

“Do, you need Congress for this? Do you think, you–”)

Donald Trump:

“No, we don’t need Congress now because we’re not doing citizenship. We’re doing the card. It’s a path. It’s a path to citizenship, a very strong path to citizenship. But we’re not doing the citizenship. For that, I’d have to get Congress

Simone Del Rosario:

Trump’s vision would replace the EB-5 Immigrant Investor Program.

Congress first created the program in 1990 “to stimulate the U.S. economy through job creation and capital investment by foreign investors.”

It grants green cards to investors and their families who make necessary investments in the U.S. and create full-time American jobs.

If those investors target a higher unemployment area, the minimum investment is $900,000. Outside of the targeted employment area, the minimum investment doubles to $1.8 million.

The Trump administration sees flaws with how the program works today.

Howard Lutnick:

“So the EB-5 program was really you lend some money, but it was all it was full of nonsense, make believe in fraud. And it was a way to get a green card that was low priced. So the president said rather than having this sort of ridiculous EB-5 program, we’re going to end the EB-5 program. We’re going to replace it with the Trump gold card.

Simone Del Rosario:

The Congressional Research Service says compared to other immigrant visas, EB-5 faces additional risks of fraud, particularly in verifying the investment funds are obtained legally.

It’s unclear if Trump’s $5 million version would come in the form of an investment like EB-5 or a direct payment.

As for who could be eligible for the gold card…money can only get immigrants so far. Trump says recipients will be fully vetted.

Donald Trump:

“Depends. The country is largely. The people will be vetted very carefully.”

Reporter:

Would a Russian oligarch be eligible for a gold card?)

Donald Trump:

“Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people. It’s possible. They’re not quite as wealthy— they’re not as wealthy as they used to be. I think they could have. I think they could afford $5 million.

Simone Del Rosario:

Commerce Secretary Howard Lutnick says it will be used to pay down deficits.

Howard Lutnick:

Why do we give out lotteries of green cards? Why do we give out EB-5 for green cards? The president of the United States understands that the right answer is why don’t we eliminate the deficit of the United States instead?

Simone Del Rosario:

The program would be one of the most expensive golden visas in the world. New Zealand and Singapore command more than Trump’s proposed amount, while the popular Malta visa only costs around $630,000. The president says he plans to move fast on the gold card. He says they’ll start selling them in two weeks.