Trump Proposes $5 Million 'Gold Card' Visa for Wealthy Foreign Investors

The plan aims to replace the EB-5 visa program, but experts warn of legal, economic, and ethical challenges.

President Trump announced plans for a $5 million 'Gold Card' visa, offering wealthy foreigners a path to U.S. permanent residency and citizenship.
The proposed scheme would replace the EB-5 visa program, which required direct investment in U.S. businesses and job creation but faced criticism for fraud and misuse.
Experts caution that implementing the program would require Congressional approval, as creating a new visa category exceeds executive authority.
Similar 'golden visa' programs in Europe have been linked to money laundering, housing crises, and economic inequality, leading many countries to terminate them.
Critics argue the plan could prioritize wealthy individuals over traditional immigrants and raise concerns about vetting the origins of applicants' funds.