U.S. President Donald Trump has proposed a controversial immigration program, the “Gold Card,” which would grant residency and a “path to citizenship” to foreign investors willing to pay a $5 million fee.
The plan to launch in two weeks is to replace the existing EB-5 investor visa program, which Trump officials have criticized as “fraudulent and inefficient.”
Unlike the EB-5 program—which requires foreign investors to inject capital into job-creating U.S. businesses—the Gold Card would allow wealthy individuals to secure permanent residency simply by directly paying the government. The administration claims the move will boost the economy while maintaining strict controls on other immigration forms.
“We’re going to be selling a gold card,” Trump declared at a press conference on Tuesday. “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 will be a route to citizenship.”
Commerce Secretary Howard Lutnick called the EB-5 program “full of nonsense, make-believe, and fraud.” He said the new plan eliminates the need for investment in businesses and job creation, streamlining the process for the ultra-rich.
The announcement marks a stark departure from America’s traditional immigration policies, historically prioritizing skilled labor, family reunification, and refugee resettlement.
What Happens to the EB-5 Investor Visa?
Under the current EB-5 visa, investors must commit at least $1.05 million (or $800,000 in designated high-unemployment areas) to a commercial enterprise that creates at least 10 U.S. jobs. While the program has brought in billions of dollars, critics argue it has been exploited for fraud and favoritism, particularly by wealthy Chinese investors.
“Frankly, the EB-5 program has been a disaster,” Trump stated. “With the Gold Card, we cut through the nonsense. It’s direct, it’s simple, and it brings in money.”
Economic Ambitions: A $50 Trillion Windfall?
Trump suggested that the Gold Card could be a game-changer for America’s national debt.
“We’ll be able to sell maybe a million of these cards, maybe more than that,” he said. “A million cards would be worth $5 trillion. If we sell 10 million, that’s $50 trillion—and we have a $35 trillion debt.”
Financial analysts, however, have expressed skepticism about these numbers. “Selling 10 million Gold Cards would mean granting residency to a population roughly the size of Sweden,” said immigration policy expert Linda Martinez. “It’s highly unrealistic.”
One of the more controversial aspects of the proposal is Trump’s openness to Russian oligarchs obtaining the Gold Card. When asked if they would be eligible, he responded:
“Yeah, possibly. I know some Russian oligarchs that are very nice people.”
Critics argue that such a policy could open the door to money laundering and foreign interference. “It raises serious national security concerns,” said Democratic Senator Chris Murphy. “Are we really going to hand out green cards to billionaires with questionable ties just because they have the cash?”
The proposal has drawn sharp criticism from both political opponents and social commentators. Some have pointed out the irony of Trump’s immigration stance—cracking down on undocumented migrants while selling U.S. residency to the ultra-wealthy.
“The Statue of Liberty says, ‘Give me your tired, your poor, your huddled masses,’” political comedian Jason Selvig quipped. “Trump just rewrote it to: ‘Give me your rich, your billionaires, your Russian oligarchs.’”
Immigration advocates also condemned the plan. “This is selling America to the highest bidder,” said Raul García, a policy director at the American Immigration Council. “It’s a slap in the face to hardworking immigrants who have waited years to get legal status.”
Global Competition in “Golden Visas”
Trump’s proposal mirrors similar Golden Visa schemes in Portugal, Greece, the UAE, and Canada, which offer residency in exchange for investment. However, the $5 million price tag makes the U.S. program the most expensive in the world.
According to a Henley & Partners report, demand for investor visas has surged globally, particularly among Americans seeking residency in Europe and the Middle East. “The U.S. is clearly trying to compete with global markets,” said investment migration expert Alexander Dobbs. “But will billionaires pay that much just for a green card? That’s the big question.”
Will It Pass Legal and Congress?
While Trump claims that no congressional approval is required, legal experts disagree. Immigration laws fall under Congress’s jurisdiction, and any significant changes—especially involving a “path to citizenship”—would likely face legal challenges.
