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2mo ago

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

The initiative aims to replace the EB-5 visa program, promising faster processing but raising concerns over affordability, security, and housing market impacts.

President Donald Trump's gold visa could drive up housing inflation in the United States.
Donald Trump introduced a new gold card that immigrants can purchase for $5 million.
Commerce Secretary nominee Howard Lutnick listens as President Donald Trump speaks after signing an executive order in the Oval Office of the White House, Thursday, Feb. 13, 2025, in Washington. (AP Photo/Ben Curtis)
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Overview

  • President Trump has announced a proposal for a $5 million 'gold card' visa, offering permanent residency and a pathway to citizenship for wealthy foreign investors.
  • The program is intended to simplify and replace the existing EB-5 visa system, which has faced criticism for fraud, inefficiency, and lengthy processing times.
  • Critics warn the initiative could exacerbate housing affordability issues in major U.S. cities and pose potential security risks without stringent vetting procedures.
  • Supporters argue the program could attract significant investment to the U.S., boosting job creation, infrastructure, and economic growth if managed effectively.
  • The 'gold card' faces challenges, including its high price compared to similar programs abroad and questions over whether it can legally bypass Congressional approval.