Overview

• President Trump announced the 'Gold Card' visa, requiring a $5 million fee for permanent residency and a path to citizenship, as an alternative to the existing EB-5 investor visa program.
• The 'Gold Card' fee would go directly to the federal government, unlike the EB-5 program, which ties investments to U.S. businesses and job creation.
• Immigration experts and billionaires expressed doubts about the program, citing the high cost, lack of clear returns, and existing cheaper alternatives in other countries.
• Concerns have been raised over the program’s vague details, its legality without Congressional approval, and the potential for limited demand among wealthy individuals.
• While some ultra-wealthy individuals showed interest, many questioned the appeal of U.S. citizenship given global tax implications and other residency options.