Introducing the Trump-featured Gold Visa: A path to U.S. citizenship for immigrants
Donald Trump has introduced a new Gold Card residency program aimed at attracting wealthy individuals and celebrities, offering a direct path to U.S. citizenship.
The Gold Card introduced by Donald Trump has been making waves, especially among wealthy individuals seeking U.S. citizenship. This new residency card promises exclusive benefits for those able to afford it, but the details have stirred considerable interest and debate.
With this new initiative, the Trump administration is hoping to attract significant foreign investment, but questions remain about the card's long-term impact on U.S. immigration policies and the economy. What exactly does this new program entail, and who stands to benefit the most?
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Trump announces new Gold Visa for immigrants
Donald Trump unveiled a new residency card designed to allow wealthy and famous Latinos to obtain U.S. citizenship. The initiative, driven by the Republican president, aims to attract foreign wealth, create jobs, and generate state revenue. Onboard Air Force One, the president presented the prototype of the Gold Card and confirmed it would feature his face and signature.
For five million dollars, this could be yours,” Trump said during a meeting with journalists on the presidential plane, showcasing the Gold Card prototype, which he also referred to as the “Trump Card.” When asked, he confirmed he was "the first buyer" and added, “It will be available in about two weeks. Exciting, right?”
This new residency card will offer a direct path to citizenship, aimed at wealthy individuals. Commerce Secretary Howard Lutnick confirmed that it would replace the EB-5 visa, which has been in place since 1992. He also stated that each applicant would undergo a thorough verification process.
Gold Card: A million-Dollar replacement for the EB-5 visa
The EB-5 visa allowed for permanent residency through investments ranging from $800,000 to $1.05 million. In exchange, beneficiaries had to create at least ten secure jobs for U.S. citizens. In contrast, the new Gold Card will remove this requirement.
In late February, Trump criticized the previous program, calling it fraudulent. Lutnick added, "The EB-5 program was a way to get a green card at a low price, but it was filled with problems."
"You have a green card. This is a gold card. We’ll price it at around $5 million, and that will give you green card privileges, plus a route to citizenship," Trump commented at the time.
What benefits does Trump promise with the new Gold Visa?
Trump stated that the card would attract significant contributors and job creators. "Wealthy people will come to our country by buying this card. They will be successful, spend a lot of money, pay a lot of taxes, and employ many people," he asserted.
The White House has not set annual limits for issuing these cards, although Trump estimated they could sell up to one million, generating $5 billion in revenue. Lutnick mentioned in a March interview that, so far, “they’ve already sold a thousand cards.”
Some of the main benefits of the Gold Card include:
- Annual Limits: Unlike the EB-5, which has a cap of 15,000 visas per year, the Gold Card has no limit on the number issued.
- Employment Requirements: While the EB-5 requires the creation or maintenance of ten jobs in the U.S., the Gold Card does not impose this condition.
- Processing Time: The Gold Card could be issued faster, while the EB-5 visa has delays depending on the applicant's country of origin.
- Taxation: Trump indicated that no taxes will be charged on income generated outside of the U.S., unless the holder becomes a citizen.
