President Donald Trump has introduced a highly anticipated ‘gold card’ program, providing legal status and a pathway to American citizenship for individuals willing to invest $1 million. The launch of the program, which aims to attract and retain top talent while generating revenue for the U.S. government, was accompanied by the unveiling of a website for applications on December 10. Trump declared the initiative on Truth Social just before its debut, expressing excitement about the direct path to citizenship it offers to qualified individuals.
This program is designed to replace the EB-5 visa, established by Congress in 1990 to stimulate foreign investment. Instead of the previous requirements for investing in a company with a minimum of 10 employees, Trump’s new visa program allows individuals to secure legal residency by investing the full $1 million. Corporations, on the other hand, will need to invest up to double the amount per foreign-born employee.
Funds collected through the program will be directed to the U.S. government, with Trump anticipating billions flowing into a Treasury Department account for the benefit of the country. The ‘gold card’ effectively functions as a green card, offering permanent legal residency and a robust path to citizenship. Trump emphasized the program’s strength and potency compared to traditional green cards.
Notably, the president did not outline specific job creation requirements for participating corporations or set overall caps on the program, in contrast to the existing EB-5 program. He highlighted the challenges faced by businesses in recruiting talented graduates from U.S. universities who require permission to stay in the country, emphasizing the need to address these barriers.
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